- October 24, 1996
- All Issuing Offices in Arizona
- Implementing Settlement of Federal Antitrust Litigation in Arizona and Wisconsin
Please send the attached Exhibits "B" and "C" to every person who has ordered a title policy since August 15, 1996.
Please contact Marietta Maxfield or Patrick Thesing by facsimile (713-552-9523 to obtain the endorsements, which are attached as Exhibits "D" and "C".
These instructions are supplemental to the comprehensive Bulletin MU000020, implementing the settlement of antitrust litigation, IN RE: TITLE SEARCH AND EXAMINATION SERVICES ANTITRUST LITIGATION, MDL DOCKET NO. 94-1027.
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.
EFFECTIVE DATE: August 15, 1996
TO:All Arizona Stewart Title Guaranty Company Issuing Agents
FROM:Marietta M. Maxfield, Vice-President/Special Counsel
RE:Implementing Settlement of Anti-Trust Litigation in MDL 94-1027
Please find enclosed a notice and proof of entitlement to be attached to every commitment for title insurance you send out from now through August 15, 1997.
Please forward the notice and proof of entitlement to every customer who has ordered title insurance since August 15, 1996. If you are contacted by anyone who receives a notice or provides a proof of entitlement, please forward all documentation to me by facsimile and by mail; endorsements will be provided on request.
NOTICE TO PURCHASERS OF TITLE INSURANCE AND RELATED
SERVICES FROM JANUARY 1, 1981 THROUGH JUNE 10, 1986
The settlement of certain litigation involving Stewart Title Guaranty Company and a number of other title insurance companies may entitle you to a special benefit. If you believe that you are entitled to this benefit, we need specific information from you which is requested in a Proof of Entitlement Form.
This benefit is part of the settlement of certain litigation approved on May 3, 1996 by the United States District Court for the District of Arizona and entitled, In Re Title Search and Examination Services Antitrust Litigation, MDL 94-1027.
If during the time period from January 1, 1981 through June 10, 1986, inclusive, you purchased title insurance or related services, including search and examination, for property located in Arizona or Wisconsin, we may provide you with the last $5,000 of coverage without charge on any new title insurance policy purchased from us from August 15, 1996 through August 15, 1997 and the company issuing your former policy may provide you with an endorsement enhancing your coverage by 60%.
If this situation applies to you, you must provide the information requested on the Proof of Entitlement and return it to us.
PROOF OF ENTITLEMENT (ARIZONA)
1. Did you purchase or obtain title insurance or related services during the period of January 1, 1981 or June 10, 1986 inclusive? _______ Yes _______ No
2. If your answer to question No. 1 was yes, please indicate which item you purchased:
Owner's title insurance policy. Please indicate the name(s) of the insured on that policy ___________________________________________________________
_____ Tract book or lot book search
_____ Other. Please describe: ___________________________________________
_____ Stewart Title Guaranty Company or one of its agents
_____ Ticor Title Insurance Company or one of its agents
_____ First American Title Insurance Company or one of its agents
_____ Lawyers Title Insurance Corporation or one of its agents
_____ Security Union Title Insurance Company or one of its agents
_____ Title Insurance Company of Minnesota or one of its agents
_____ American Title Insurance Company or one of its agents
_____ Commonwealth Land Title Insurance Company or one of its agents
_____ TRW Title Insurance Company or one of its agents
_____ National Attorney's Title Insurance Company or one of its agents
_____ Title USA Insurance Corporation of New York or one of its agents
_____ Old Republic Title Insurance Company or one of its agents
_____ Fidelity National Title Insurance Company or one of its agents
_____ Meridian Title Insurance Company or one of its agents
_____ Security Title Insurance Company or one of its agents
_____ Transamerica Title Insurance Company or one of its agents
_____ Nations Title, Inc. or one of its agents
_____ Nations Title Insurance Company or one of its agents
_____ Other (Please name) __________________________________________
4. Approximate date of the purchase: _______________________________________
Please attach a copy of your paid bill, a closing statement, canceled check or any other document which shows that you paid for the item or service indicated at question No. 2.
I represent that the above information is true and correct to the best of my knowledge.
Order No. ______________
ENDORSEMENT EXHIBIT "D"
ENDORSEMENT TO TITLE POLICY
HEREIN CALLED THE COMPANY
IN RE: TITLE SEARCH AND EXAMINATION SERVICES ANTITRUST LITIGATION, U.S. DISTRICT COURT, DISTRICT OF ARIZONA, MDL DOCKET NO. 94-1027
This Endorsement forms a part of the title insurance policy to which it is attached on the inception date of the Policy of Title Insurance purchased during the period between January 1, 1981 and June 10, 1986, inclusive, for property located in ______________________ issued by the Company or its Agents.
The amount of insurance coverage stated in Schedule A of said Policy is increased without additional charge to cover the amount which would reflect inflation between January 1, 1981 and August 15, 1996, as measured from the policy date, by the most recent Department of Commerce construction Index, and any increase in coverage under this endorsement will be calculated as though the enhancement had been in effect ab initio PURSUANT TO ORDER AND JUDGMENT OF U.S. DISTRICT COURT FOR ARIZONA dated May 3, 1996, In Re: Title Search and Examination Services Antitrust Litigation, U.S. District Court for the District of Arizona, M.D.L. No. 94-1027.
The total liability of the Company under said Policy and any endorsements therein shall not exceed, in the aggregate, the face amount of said policy and costs which the Company is obligated under the Conditions and Stipulations thereof to pay.
This endorsement is made a part of said policy and is subject to the Exclusions from Coverage, Schedules, Conditions and Stipulations therein, except as modified by the provisions hereof.
This endorsement is not to be construed as insuring the title as of any later date than the date of said policy, except as herein expressly provided as to the subject matter hereof.
Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature, this the _____ day of ______, 199__.
Chairman of the Board President
ENDORSEMENT EXHIBIT "E"
An Endorsement to be attached to new policies where last $5,000 of insurance coverage is provided without charge.
ENDORSEMENT TO TITLE POLICY
HEREIN CALLED THE COMPANY
IN RE: TITLE SEARCH AND EXAMINATION SERVICES ANTITRUST LITIGATION, U.S. DISTRICT COURT FOR THE DISTRICT OF ARIZONA, M.D.L. NO. 94-1027
The last Five Thousand ($5,000.00) Dollars of insurance coverage stated in Schedule A of the Policy is provided without charge PURSUANT TO THE ORDER AND JUDGMENT OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA DATED MAY 3, 1996.
This Endorsement is made a part of said policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof.
Nothing herein contained shall be construed as extending or changing the effective date of said policy, unless otherwise expressly stated.
Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature, this the _____ day of _______, 199_.
Chairman of the Board President
- Bulletins Replaced:
- Related Bulletins:
- MU000020 Implementing Settlement of Federal Antitrust Litigation in Arizona and Wisconsin
- Underwriting Manual:
- Exceptions Manual: