THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NM2022003
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Bulletin: NM2022003
Date: April 07, 2022
To:
All New Mexico Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Rates Update
Dear Associates:
On March 29, 2022, the New Mexico Superintendent of Insurance issued a final order approving new rates to be effective beginning July 1, 2022. The Order implements a six percent (6%) decrease in the basic title insurance premium rates. The order approves no change to the existing premium splits of 80% for title insurance agents and 20% for title insurance underwriters for policy amounts of less than $2,000,000.00. No other change in rates was implemented. A copy of the Final Order can be found under Id number 047 here.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
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References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None