Bulletin: OH2017004

Date:
June 02, 2017
To:
All Ohio Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revised Rate Manual

Dear Associates:

Changes have been made to the Ohio Rate Manual which the Ohio Department of Insurance has approved for use effective June 1, 2017.

It was discovered that an incorrect version of the Short Form Residential Loan Policy was submitted in a prior filing as set forth in Ohio Bulletin OH2017002 published March 15, 2017. There were two versions that were released by the American Land Title Association, one for Current Assessments and one for Assessment Priority. The Ohio Title Insurance Rating Bureau filed the ALTA Expanded Coverage Residential Loan Policy - Current Assessments but incorrectly filed the ALTA Short Form Expanded Coverage Residential Loan Policy - Assessments Priority. Both the policy and the short form policy should have been for - Current Assessments. The correct version of the ALTA Short Form Expanded Coverage Residential Loan Policy - Current Assessment has been approved.

The correct version of the OH ALTA Short Form Expanded Coverage Residential Loan Policy, reflecting Current Assessments, is attached hereto along with the corrected Ohio Rate Manual effective June 1, 2017.

Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/forms changes implemented in your system.   

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

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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.