Bulletin: VT2013001

Date:
August 07, 2013
To:
All Vermont Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Schedule of Rate Changes

Dear Associates:

Stewart was recently approved for a rate increase in the state of Vermont. The revised Schedule of Rates are effective as of August 1, 2013. They can also be found on-line at the link below. 

http://www.stewart.com/vermont/rates

Please note some important changes:

1.     Loan Policy premium is a flat rate of $175.00 up to $50,000 of coverage. From $50,000.00 to
$1,000,000 of coverage the rate is $2.50/thousand of coverage;

2.     Owner Policy premium is a flat rate of $260.00 up to $50,000 of coverage. From $50,000.00 to $1,000,000 of coverage the rate is $3.25/thousand of coverage;

3.     Policies over $1,000,000.00 of coverage require an underwriter premium quote;

4.     Stewart will now offer a 40% reissue discount for refinance transactions;

5.     Stewart will now require a simultaneous issue fee of $25.00 per file.

Agents using AIM For Windows or AIM+ should contact Property Info or Customer Care to have the changes implemented in their AFW or AFW+ system. For those Agents using Stewart Docs, a brief system upgrade will be required. Please contact Customer Care for instructions. 

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