Bulletin: NY000562

Date:
January 22, 2015
To:
All New York State Offices, Counsel, Managers and Agents
RE:
AMENDED High Liability/ Over Limit Policy Approval Procedures

Stewart Legal Services would like to remind all of our policy issuing offices of it’s hi li approval procedures. I direct your attention to Bulletin 510.  Bulletin 510 and your underwriting agreement will indicate those transactions that you must seek approval to insure.  To make this process easier, we have changed the over-limits form to mirror the Stewart Title Guaranty form.  The new form will give you two options, to request approval on transactions outside New York and to request approval on transactions in New York.  Please make sure you are directing the New York transactions to Stewart Title Insurance Company.   Please review these procedures and do not hesitate to contact us at 800-433-0014 if you have any questions.

Request Form (NEW)

The NEW form for High-Li/ Over-Limit Policy Requests is located in the Stewart Agent Resource Center on http://www.stewart.com/new-york.  The form is located in the “Forms & Requests” section and is available in Word format.

How to Access the Stewart Agent Resource Center

Please go to http://www.stewart.com/new-york
Click on “Agent Login”.
Enter your Agent ID Number as your password.
If you do not know your Agent ID No., please call 800-433-0014.

Sending a Request (REMEMBER TO SEND ALL NEW YORK STATE TRANSACTIONS TO STEWART TITLE INSURANCE COMPANY)

When sending a request, we would ask that all high-li/ over-limit policy request forms be emailed to HighLiPolicy@stewart.com or faxed to 212-983-1133.  The centralization of this process will allow us to process your requests in a more efficient manner.

You must provide us with a working and monitored email address so that we may communicate with you. 

Once the request is assigned to counsel, you will receive a confirmation email advising of the contact information of the counsel working on your request.  Please contact the assigned counsel with any questions.

If for some reason you do not receive a confirmation, please contact us directly so we may assist you. 

AGENTS AND OFFICES IN ALL NEW YORK ZONES SHOULD FOLLOW THIS PROCEDURE.  NO HI LI APPROVAL REQUESTS SHOULD BE SENT TO ANY OTHER OFFICE. 

We thank you for your anticipated cooperation.

Attachments:                          Overlimits Approval Request Form

 

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:
NY000482 High Liability/ Over Limit Policy Approval Procedures
Related Bulletins:
NY000191 Requests for Policy Approval
 
NY000222 Reinsurance Procedures and Policy Approval
 
NY000259 Reinsurance Procedures and Policy Approval
 
NY000510 Over limits/High Liability/Special/Extra Hazardous Risks, New York Policy Issuing Offices
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None