Bulletin: PA2013001

Date:
April 01, 2013
To:
All Pennsylvania Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revisions to Pennsylvania Manual of Rates and New Endorsements and Policy Effective April 1, 2013

Dear Associates:

The Title Insurance Rating Bureau of Pennsylvania (“TIRBOP”) submitted to the Pennsylvania Insurance Department six (6) revised endorsements, seventeen (17) new endorsements, and one revised policy form. The forms were approved and will be effective April 1, 2013.

The Revised Endorsements are as follows: 

TIRBOP Endorsement 1030 (Loan Policy Only) – Restrictions, Encroachments, Minerals (ALTA Endorsement 9-06 as revised 04/02/12)
Charge – 10% of the applicable rate; minimum charge of $75.00. This rate is unchanged. 

TIRBOP Endorsement 1031 (Owner’s Policy Only) – Covenants, Conditions and Restrictions – Unimproved Land (ALTA Endorsement 9.1-06 as revised 04/02/12)
Charge –10% of the applicable rate or 5% if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00. This rate has changed. 

TIRBOP Endorsement 1032 (Owner’s Policy Only) – Covenants, Conditions and Restrictions – Improved Land (ALTA Endorsement 9.2-06 as revised 04/02/12)
Charge – 10% of the applicable rate or 5% if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00. This rate has changed.

TIRBOP Endorsement 1110 (Loan Policy Only
) – First Loss – Multiple Parcel Transactions (ALTA Endorsement 20-06)
Charge –10% of applicable rate; minimum charge of $500.00. This rate is unchanged. 

TIRBOP Endorsement 1130 (Owner’s Policy Only) – Leasehold Owners (ALTA Endorsement 13-06 as revised 04/02/12)
Charge – The charge for this endorsement, together with the ALTA Owner’s Policy, is set forth in Section 5.10. This rate is unchanged. 

TIRBOP Endorsement 1140 (Loan Policy Only) – Leasehold Loan (ALTA Endorsement 13.1-06 as revised 04/02/12)
Charge – The charge for this endorsement, together with the ALTA Loan Policy, is set forth in Section 5.10. This rate is unchanged. 

The New Endorsements are as follows:  

TIRBOP Endorsement 1033 (Loan Policy Only) – Private Rights (ALTA Endorsement 9.6-06)
Charge - $500.00

TIRBOP Endorsement 1034 (Loan Policy Only) - Restrictions, Encroachments, Minerals – Land Under Development (ALTA Endorsement 9.7-06)
Charge – 15% of applicable rate; minimum charge of $75.00. 

TIRBOP Endorsement 1035 (Owner’s Policy Only) – Covenants, Conditions and Restrictions – Land Under Development (ALTA Endorsement 9.8-06)
Charge – 15% of applicable rate or 10% if issued in conjunction with TIRBOP 301 Endorsement; minimum charge of $75.00. 

TIRBOP Endorsement 1312 (Loan Policy Only) - Encroachments – Boundaries and Easements (ALTA Endorsement 28.1-06)
Charge – 10% of applicable rate or $500.00 if issued with TIRBOP Endorsements 1030 or 1034. 

TIRBOP Endorsement 1313 (Owner’s Policy Only) – Encroachments – Boundaries and Easements (ALTA Endorsement 28.1-06)
Charge – 10% of applicable rate or 5% of applicable rate if issued in conjunction with TIRBOP Endorsements 1031, 1032 or 1034; minimum charge of $75.00. 

TIRBOP Endorsement 1340 (Owner’s Policy Only) – Minerals and Other Subsurface Substances – Buildings (ALTA Endorsement 35-06)
Charge - $500.00 

TIRBOP Endorsement 1350 (Owner’s Policy Only) – Minerals and Other Subsurface Substances – Improvements (ALTA Endorsement 35.1-06)
Charge – 10% of applicable rate or 5% of applicable rate if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00. 

TIRBOP Endorsement 1360 (Owner’s Policy Only) – Minerals and Other Subsurface Substances – Land Under Development (ALTA Endorsement 35.3-06)
Charge – 15% of applicable rate or 10% of applicable rate if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00. 

TIRBOP Endorsement 1400 (Owner’s and/or Loan Policy) – Severable Improvements (ALTA Endorsement 31-06)
Charge - $500.00 

TIRBOP Endorsement 1410 (Owner’s Policy Only) – Energy Project – Leasehold/Easement (ALTA Endorsement 36-06)
Charge - $500.00 

TIRBOP Endorsement 1420 (Loan Policy Only) – Energy Project – Leasehold/Easement
(ALTA Endorsement 36.1-06)
Charge - $500.00 

TIRBOP Endorsement 1430 (Owner’s Policy Only) – Energy Project – Leasehold (ALTA Endorsement 36.2-06)
Charge - $500.00 

TIRBOP Endorsement 1440 (Loan Policy Only) – Energy Project – Leasehold
(ALTA Endorsement 36.3-06)
Charge - $500.00

TIRBOP Endorsement 1450 (Owner’ Policy Only) – Energy Project – Covenants, Conditions and Restrictions – Land Under Development (ALTA Endorsement 36.4-06)
Charge – 15% of applicable rate or 10% of applicable rate if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00.  

TIRBOP Endorsement 1460 (Loan Policy Only) – Energy Project – Covenants, Conditions and Restrictions – Land Under Development (ALTA Endorsement 36.5-06)
Charge - 5% of applicable rate; minimum charge of $75.00  

TIRBOP Endorsement 1470 (Owner’s Policy Only) – Energy Project – Encroachments (ALTA Endorsement 36.6-06)
Charge – 15% of applicable rate or 10% if issued in conjunction with TIRBOP Endorsement 301; minimum charge of $75.00. 

TIRBOP Endorsement 1471 (Loan Policy Only) – Energy Project – Encroachments
(ALTA Endorsement 36.6-06)
Charge – 5% of applicable rate; minimum charge of $75.00. 

The Revised Policy is as follows: 

ALTA U.S. Policy (12/3/12

The following Endorsements and Policy forms have been Withdrawn simultaneously with the filing of the revised forms 

TIRBOP Endorsement 1030 (04/01/07) – Special Risks (Restrictions, Encroachments, Minerals) (ALTA Endorsement 9-06)  

TIRBOP Endorsement 1031 (04/01/07) – Restrictions, Encroachments, Minerals – Unimproved Land (ALTA Endorsement 9.1-06) 

TIRBOP Endorsement 1032 (04/01/07) – Restrictions, Encroachments, Minerals – Improved Land (ALTA Endorsement 9.2-06) 

TIRBOP Endorsement 1130 (04/01/07) – Leasehold Owner’s (ALTA Endorsement 13-06) 

TIRBOP Endorsement 1140 (04/01/07) – Leasehold Loan (ALTA Endorsement 13.1-06) 

TIRBOP Endorsement 1110 (04/01/07) – First Loss – Multiple Parcel Transactions (ALTA Endorsement 20-06) 

ALTA U.S. Policy (9/28/91

The Rate Manual and forms are available under the “Forms and Policy Information” index on our website:  http://www.stewart.com/pennsylvania 

Agents using Aim for Windows (AFW) or Aim for Windows Plus (AFW+) should contact PropertyInfo Customer Care to have the changes and new rate(s) implemented into the AFW or AFW+ system. 

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:
PA 1030 (ALTA 9-06) Endorsement - Restrictions, Encroachments, Minerals 4/02/12
 
PA 1031 (ALTA 9.1-06) Endorsement - Restrictions, Encroachments, Minerals - Unimproved Land 04/01/13
 
PA 1032 (ALTA 9.2-06) Endorsement - Restrictions, Encroachments, Minerals - Improved Land 04/01/13
 
PA 1033 (ALTA 9.6-06) ENDORSEMENT- Private Rights - Loan Policy Only (07/01/14)
 
PA 1034 (ALTA 9.7-06) ENDORSEMENT - Restrictions, Encroachments, Minerals - Land Under Development - Loan Policy Only (04/01/13)
 
PA 1035 (ALTA 9.8-06) ENDORSEMENT - Covenants, Conditions and Restrictions - Land Under Development - Owner's Policy Only (04/01/13)
 
PA 1130 (ALTA 13-06) Endorsement - Leasehold Owner 04/01/13
 
PA 1140 (ALTA 13.1-06) Endorsement Leasehold - Lender 04/01/13
 
PA 1312 (ALTA 28.1-06) ENDORSEMENT- Encroachments - Boundaries and Easements - Loan Policy Only (04/01/13)
 
PA 1313 (ALTA 28.1-06) ENDORSEMENT- Encroachments - Boundaries and Easements - Owner's Policy Only (04/01/13)
 
PA 1340 (ALTA 35-06) ENDORSEMENT - Minerals and Other Subsurface Substances - Buildings - Owner's Policy Only (04/01/13)
 
PA 1350 (ALTA 35.1-06) ENDORSEMENT - Minerals and Other Subsurface Substances - Improvements - Owner's Policy Only (04/01/13)
 
PA 1360 (ALTA 35.3-06) ENDORSEMENT- Minerals and Other Subsurface Substances - Land Under Development - Owners Policy Only (04/01/13)
 
PA 1400 (ALTA 31-06) ENDORSEMENT- Severable Improvements - Owners and/or Loan Policy (04/01/13)
 
PA 1410 (ALTA 36-06) ENDORSEMENT - Energy Project - Leasehold/Easement - Owners Policy Only (04/01/13)
 
PA 1420 (ALTA 36.1-06) ENDORSEMENT- Energy Project - Leasehold/Easement - Loan Policy Only (04/01/13)
 
PA 1430 (ALTA 36.2-06) ENDORSEMENT- Energy Project - Leasehold - Owners Policy Only (04/01/13)
 
PA 1440 (ALTA 36.3-06) ENDORSEMENT- Energy Project - Leasehold - Loan Policy Only (04/01/13)
 
PA 1450 (ALTA 36.4-06) ENDORSEMENT- Energy Project - Covenants, Conditions and Restrictions - Land Under Development - Owners Policy Only (04/01/13)
 
PA 1460 (ALTA 36.5-06) ENDORSEMENT - Energy Project - Covenants, Conditions and Restrictions - Land Under Development - Loan Policy Only (04/01/13)
 
PA 1470 (ALTA 36.6-06) ENDORSEMENT - Energy Project - Encroachments - Owner's Policy Only (04/01/13)
 
PA 1471 (ALTA 36.6-06) ENDORSEMENT - Energy Project - Encroachments - Loan Policy Only (04/01/13)