Bulletin: WV2011001

Date:
April 25, 2011
To:
All West Virginia Issuing Offices
RE:
ALTA U.S.A Owner's Policy (09/28/91) and Corresponding Endorsements

Dear Associates:  

Please be advised that Stewart Title Guaranty Company has filed the ALTA U.S.A Owner’s Policy form with the West Virginia Department of Insurance effective February 7, 2011. The ALTA U.S.A. Owner’s Policies are title insurance policies, very similar to the regular ALTA Owner’s Policy, but designed to insure title in the United States of America or a U.S. Agency. The policy can be used when an entity of the Federal Government is taking title in property that they are acquiring for their needed inventory of various types of property. There currently is no change in any rates for this policy as the rate will be the same as already approved for the Owner’s policy of title insurance in West Virginia.

You may view the policy format at www.virtualunderwriter.com

In addition please note that when issuing the ALTA U.S.A. Owner’s policy you must attach the STG standard arbitration endorsement and the paragraph 12 (b) endorsement to the policy. Both endorsements were filed simultaneously with the U.S.A. policy. Copies of each endorsement are attached to this bulletin.  

If you have questions related to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.

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:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA U.S. Policy 1991