Bulletin: NL000059

Date:
March 06, 1997
To:
All Issuing Offices
RE:
Overlimit Authority and Reinsurance Form

Dear Associates:

Please contact our Forms and Information Department for a copy of Stewart Title Guaranty Company's revised Overlimit Authority and Reinsurance Form.

  • When to utilize this form

    • On any transaction over your underwriting authority limit, per your contract with Stewart Title Guaranty Company prior to the issuance of any commitment, policy or form to the Insured.

    • Endorsements if they increase an existing policy over your underwriting authority under the contract

    • Modification endorsements issued to an existing policy if over your underwriting authority amount under the contract

    • You must complete the last page regarding reinsurance questions on any transaction over $25 million (except in Michigan which has a 10% of Capital and Surplus limitation and in Bahamas, Canada, Guam, Mexico, Northern Mariana Islands (Saipan), Puerto Rico, and Virgin Islands which have a $10 million limitation and Argentina which has a $5 million limitation).

  • When to obtain Stewart's approval

    • You must obtain approval before you issue. In the event the referenced commitment is released prior to approval by Stewart Title Guaranty Company, the following requirement must be included in the commitment:

      "Approval to issue this policy must be obtained from authorized Underwriting Personnel of Stewart Title Guaranty. This commitment and any policies to be issued are subject to any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company."

The above forms are available from Stewart Title Guaranty Company Forms and Information Department by calling 1-800-729-1901.

Overview

Please see our reinsurance bulletins and underwriting criteria if you want more information on our reinsurance guidelines.

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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
17.20 Reinsurance
Exceptions Manual:
None
Forms:
None