Bulletin: TX2007001

Date:
June 21, 2007
To:
All Texas Agents and Issuing Offices
RE:
Guidelines for Use of New TDI Notification Form
 Dear Associates:

Although title insurance policies in Texas have disclosure and notification language promulgated by the Texas Insurance Department, a new regulation (5/22/07 bulletin and 28 TAC §1.601) now requires another English/Spanish version be provided with all policy forms.  We have chosen to comply with this requirement by the use of a separate notice. 

For agents using printed forms:

Our notice form contains the proper information for Stewart Title Guaranty Company.  You will have to insert your telephone number in the space provided after item number 2.

For agents and offices using our AIM products, we will make the necessary system changes so that when the form is created by you as part of policy preparation, both your telephone number and our information are inserted.  The system will also pick up the contact information for your other underwriters.  We will provide you with instructions as needed to assure that your system has the proper information to produce the form.

Please note that although TDI staff has indicated that they intend to further address this issue at the next rate and rules hearing, TDI's current position is that the form and bulletin applies to all lines of insurance, including title and that title licensees are expected to comply.   If and when the rule is changed, we will inform you.

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