Bulletin: MU2009002

Date:
March 10, 2009
To:
All Issuing Offices except Florida, Louisiana, New Mexico, New York and Texas
RE:
ALTA Homeowner's Policy of Title Insurance (1/1/08)

Dear Associates:

The ALTA Homeowner's Policy of Title Insurance (1/1/08) has been modified to improve coverage by incorporating the changes made in the 2006 ALTA Owner's Policy, such as many of the new Covered Risks of the 2006 ALTA Owner's Policy. The new Homeowner's Policy provides more coverage to owners than the 2006 ALTA Owner's Policy. It also includes the Covered Risks in the prior 2003 ALTA Homeowner's Policy. The ALTA Homeowner's Policy contains 32 insuring clauses (Covered Risks). For a list of these Covered Risks and the requirements for issuance of the ALTA Homeowner's Policy, please see our Guideline: ALTA Homeowner's Policy of Title Insurance (1/1/08).

The ALTA Homeowner's Policy of Title Insurance (1/1/08) generally will have a premium charge of 110% of the applicable cost of the Standard Owner's Policy (unless a higher rate is filed in your state). For Schedule A Deductible Amounts and Maximum Dollar Limits of Liability, please see our Guideline: ALTA Homeowner's Policy of Title Insurance (1/1/08).

If you have questions relating to this bulletin, please contact Stewart Legal Services or your local Underwriting Personnel.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

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:
MU2008002 New ALTA Forms
 
SLS00307 2006 ALTA Forms
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Homeowner's Policy of Title Insurance (1/1/08)