Bulletin: LA2011003

Date:
April 20, 2011
To:
All Louisiana Issuing Offices
RE:
ALTA 17.2-06 (10/16/08) and LA 103 (05/01/11) Form Filing and Rate Rule

Dear Associates:   

The Louisiana Department of Insurance has approved the Form and Rate Rule filing made by LATISSO for the endorsements referenced below.

These new Forms and new Rate Rules become effective May 1, 2011.


ALTA® Endorsement 17.2-06 (Utility Access) (10/16/08)

This endorsement to an Owner's or Loan Policy provides coverage for loss or damage if the insured lacks the right of access to various specifically selected utilities or services either over, under or upon rights of way or easements for the benefit of the Land.

Rate:  $250.

LATISSO Endorsement 103 (Foundation) (05/01/11)

This endorsement to a Loan policy provides coverage for the indebtedness secured by the insured mortgage against loss or damage which the insured shall sustain by reason of: 

    1. The failure of the foundation of the structure under construction on the land to be within the boundary lines of the land as of the date hereof;
    2. The location of the foundation as of the date hereof, being in violation of the covenants, conditions or restrictions referred to in Schedule B as of the date hereof;
    3. The foundation encroaching as of the date hereof, onto any of the servitudes or easements referred to in Schedule B.

      Rate:  $100.

The Louisiana Rate and Form Manual has been updated to reflect the addition of these new forms and new rates.  Please go to www.stewart.com/louisiana for the updated manual and the new forms in electronic format.

If you have questions related to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.

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 17.2-06 (Utility Access) (10/16/08)
 
LA Endorsement 103 Foundation (05/01/11)