Bulletin: OH2011002

Date:
December 12, 2011
To:
All Ohio Issuing Offices
RE:
New Ohio Statistical Reporting Plan

Dear Associates:  

Beginning in 2012, the Superintendent of Insurance for the State of Ohio has mandated all underwriters gather and submit statistical information on premiums, policies, claims, and other information for purposes of analyzing rates.  All underwriters will be required to submit collected information for the calendar year being reported by June 30 of the following year. Underwriters will submit this data to the Ohio Title Insurance Rating Bureau (OTIRB) who will then submit the data to the Superintendent. 

The Ohio Department of Insurance has approved the Statistical Reporting Plan submitted by the OTIRB.  Therefore, please be advised that beginning January 1, 2012, all policies, endorsements and other title insurance products bearing an effective date of January 1, 2012, must be reported to Stewart using the attached transaction codes and Ohio State Plan Endorsements.  Additionally, all policies must contain a county code (see attached list) corresponding to the county in which the insured premises is located. Compliance with these requirements is mandatory. These statistics will be used in the future to determine future rate filings.  If you should have any questions please contact your Agency Services Manager.

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:
None