Bulletin: IN2015004

Date:
July 09, 2015
To:
All Indiana Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New Schedule of Charges for Use in The State of Indiana effective August 1, 2015

Dear Associates:

Please find the Attached Schedule of Charges for Use in The State of Indiana, which has been approved by the IDOI for use effective August 1, 2015. The new rates are effective for all policies issued by or on behalf of Stewart Title Guaranty Company in transactions involving Indiana real estate after August 1, 2015.   

The new rates include the following important changes: 

  1. Definition of Residential Policies provided on the attached rate schedule.
  2. Simultaneous Issued Residential Loan Policy Premium being less or equal to the Owner's Policy will be $50.00. 
  3. Simultaneous Issued Commercial Loan Policy Premium being less or equal to the Owner's Policy will be $225.00.
  4. Minimum Policy Premium rates now apply to all types of policies both Residential and Commercial. See attached rate schedule.
  5. Reissue discount is applicable only to Owner's policies based on an Owner’s Policy issued within the proceeding 10 years and credit applied up to the amount of the previous policy.
  6. No refinance or reissue rates apply to loan only policies.
  7. New Home Premium shall be 50% of the basic owners policy premium shown above (1-4 family dwellings only) sold for first time and only applicable to Owner’s Policy.
  8. ALTA Residential Limited Coverage Junior Loan Policies for up to $250,000; the premium will be $75.00.
  9. Indiana Foreclosure Guarantee rates and liabilities are defined in the attached rate schedule.
  10. All filed endorsements available in Indiana are listed on the attached rate and defined as Standard Non-hazardous or Extra-hazardous as set out on attached rate schedule.

Indiana policy forms and endorsements are available on Virtual Underwriter by clicking here: Indiana Forms

Any Agents using AIM+, please contact PropertyInfo Customer Care to advise them of the new rate changes and request that they implement the changes in their respective AIM+ systems effective August 1, 2015. All other Agents please contact your software vendor or manager to have them modify your systems to implement the new rates effective August 1, 2015.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

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:
None