Bulletin: OH2012002

Date:
July 25, 2012
To:
All Ohio Issuing Offices
RE:
Ohio Resident Business Entity License Renewals

Dear Associates: 

The Ohio Department of Insurance has issued an announcement regarding license renewals for all Ohio resident business entities holding a major line, limited line and/or title insurance license. These entities are required to renew their license(s) by September 30, 2012. 

The renewal application must be submitted between July 3, 2012, and September 30, 2012. The Department encourages all business entities to submit their application electronically.  Applications may be submitted through Vertafore’s Compliance Express service. 

The business entity will have a one-month extension in which to submit an application if it fails to submit a license renewal by September 30, 2012.  In addition to the $25 renewal fee, the business entity will be required to pay a $100 extension fee.  During the one-month extension period, the business entity’s license will remain active. 

If a license renewal application is not submitted by October 31, 2012, the license will be suspended on November 1, 2012.  All company appointments will be terminated and the business entity must cease all insurance activities. 

A license suspended for non-renewal can be reinstated within one year of the original license expiration date. 

Please contact the Ohio Department of Insurance Licensing Division at (614) 644-2665 with any questions regarding the renewal process. 

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