Bulletin: TX2014003

Date:
February 27, 2014
To:
All Texas Issuing Offices
RE:
UNDERWRITING - CO-INSURANCE ENDORSEMENT FORM (T-48)

Dear Associates: 

When issuing a promulgated Co-Insurance Endorsement Form (Form T-48), a Stewart Title Guaranty Company (STG) policy number must be issued to the file and referenced in the co-insurance transaction even when STG is not the lead insurer. In your production system, if a policy jacket must be produced in order to obtain a STG policy number, the following language must be prominently written on each of page of the jacket:

THIS POLICY IS ISSUED IN CONJUNCTION WITH THE CO-INSURANCE TRANSACTION WITH [INSERT NAME OF OTHER UNDERWRITER(S)] AND POLICY NUMBER [INSERT THE POLICY NUMBER] ISSUED BY [Insert name of THE LEAD UNDERWRITER].

Any STG policy jacket produced for the purpose of obtaining a STG policy number should remain in the file and contain the above language. The policy jacket is not to be provided to either the insured or the co-insurer(s). You must provide the STG policy number to the lead underwriter for inclusion in the Co-Insurance Endorsement and for their records.

If you are completing a Form T-48, the lead underwriter’s policy number should be listed in the space following “Attached to Policy No.” at the top of the form. STG’s policy number shall be included under item 1 referencing STG’s information as to the co-insurance transaction.

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:
T-48 TX Co-Insurance Endorsement