Bulletin: AL2020003

Date:
July 23, 2020
To:
All Alabama Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Effective July 31, 2020

Dear Associates:

Attached is the new STG Alabama Rate Manual that is effective July 31. Notably, the manual reflects changes in three areas: 

  1. a single, unified state rate for policies;
  2. changes to certain endorsement rates; and
  3. rates for newly filed and approved endorsements. 

Also, the following forms have been approved for use in the state of Alabama: 

ALTA 3.3-06 Zoning - Completed Improvement - Non-Conforming Use

  • This endorsement insures against loss or damage sustained by the Insured resulting from a Non-Conforming Use not being allowed by the municipality or county because the Non-Conforming Use violates a Zoning Ordinance; or a final decree of a court of competent jurisdiction either prohibiting the Non-Conforming Use or requiring the removal or alteration of the Improvement because, at the Date of Policy, the Non-Conforming Use violates a Zoning Ordinance with respect to delineated matters. Certain exclusions apply. This endorsement can be issued with Owner’s or Loan Policies.

ALTA 3.4-06 Zoning - No Zoning Classification

  • This endorsement insures against loss or damage sustained by the Insured resulting from an existing use not being allowed by the municipality or county because the use violates a Zoning Ordinance; or a final decree of a court of competent jurisdiction either prohibiting the use or requiring the removal or alteration of the Improvement because, at the Date of Policy, the use violates a Zoning Ordinance with respect to delineated matters. Certain exclusions apply. This endorsement can be issued with Owner’s or Loan Policies.

ALTA 18.3-06 Single Tax Parcel and ID

  • This endorsement insures against loss or damage sustained by the Insured by reason of the Land being taxed as part of a larger parcel of land or failing to constitute a separate tax parcel for real estate taxes; or any portion of the Land not being assessed for real estate taxes under a tax identification number. This endorsement can be issued with Owner’s or Loan Policies.

The forms are attached here. There is a premium associated with each of these endorsements.

Please contact PropertyInfo Customer Care or your title production software vendor to get the new forms and new rates implemented in your system.

If you have any questions relating to this or other bulletins, please contact the Alabama State Office for assistance.

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.