Bulletin: LA000020

Date:
October 20, 2006
To:
All Louisiana Agents and Issuing Offices
RE:
Notice of Availability of Owner's Title Insurance

Dear Associates,

The Louisiana Department of Insurance (DOI) requires that purchasers in real estate transactions be informed of their ability to purchase title insurance for their protection, not just protection for their lender.Proof that the purchaser has been informed of this ability would either be an owner's title policy in the file or an affidavit showing the purchaser rejected our product.

The DOI requires title underwriters to provide this affidavit to their agents and that it is approved by the DOI. Attached is the newly approved Notice of Availability of Owner's Title Insurance form.

We have updated this form to include expanded coverage available in the ALTA Homeowners Policy of Title Insurance.

Thank you for your business and please call John Hall at 1-800-209-4675 x4 or Wayne McDonald at x3 with any questions.

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:
LA Notice of Availability of Owner's Title Insurance