Bulletin: PA2018003

Date:
July 31, 2018
To:
All Pennsylvania Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revisions to Pennsylvania Manual of Rates and New Endorsements and Policy Effective August 1, 2018

Dear Associates:

The Title Insurance Rating Bureau of Pennsylvania (“TIRBOP”) submitted to the Pennsylvania Insurance Department four (4) revised endorsements, two (2) new endorsements, and the withdrawal of two (2) endorsements. The forms were approved and will be effective August 1, 2018.

The new and revised endorsements are as follows:

TIRBOP Endorsement 810 (ALTA 4.1-06) Condominium - Current Assessments 

TIRBOP Endorsement 820 (ALTA 5.1-06) Planned Unit Development - Current Assessments. These endorsements are revised to make the language consistent with that in ALTA Endorsements 4.1-06 and 5.1-06.

TIRBOP Endorsement 910 (ALTA 8.2-06) Environmental Protection Lien. This endorsement is being withdrawn and replaced by ALTA Endorsement 8.2-06 which provides the same coverage as TIRBOP Endorsement 910. ALTA Endorsement 8.2-06 will be designated as TIRBOP Endorsement 910 with a new date.

TIRBOP Endorsement 1034 (ALTA 9.7-06) Restrictions, Encroachments, Minerals - Land Under Development. This endorsement is being revised to incorporate the technical revision made by ALTA to ALTA 9.7-06.

TIRBOP Endorsement 1100 Waiver of Arbitration. This endorsement was previously expanded to allow issuance with an Owner’s Policy; the TIRBOP Endorsement is being revised to include that change.

TIRBOP Endorsement 1150 (ALTA 14.2-06) Future Advance - Letter of Credit. This endorsement is being withdrawn and replaced with the current version of ALTA Endorsement 14.2-06 and will continue to be designated as TIRBOP Endorsement 1150 with a new date.

Please contact PropertyInfo Customer Care or your title production software vendor to implement the changes. 

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:
ALTA Endorsement 14.2-06 (Future Advance - Letter of Credit) Revised 02-03-11
 
ALTA Endorsement 8.2-06 (Commercial Environmental Protection Lien) (10/16/08)