- February 18, 2015
- All Delaware Issuing Offices
- RATES AND/OR FORMS UPDATE - DTIRB Rating Manual Revisions - Rate Increase and increased fee for Closing Protection Letter
Last year the Delaware Title Insurance Rating Bureau (“DTIRB”) submitted to the Delaware Department of Insurance a request for an increase in rates, as well as an increase for the charge for the CPL.
The request was recently approved by the Delaware Department of Insurance and will have an effective date of March 1, 2015. The following sections of the Rating Manual have been revised to reflect the increase in the rate schedules:
Section 3.2 – Original Title Insurance Rates for Owner’s Policies
Section 3.3 – Rate for Reissue Owner’s Policy
Section 3.6 – Original Title Insurance Rates for Loan Policies
Section 3.7 – Rate for Reissue Loan Policy
Section 3.10 – Assignment of Mortgage
Section 3.11 – Extension or Modification of an Insured Mortgage
Section 7.1 Closing Protection Letter – Single Transaction Limited Liability
Attached please find the revised sections of the Rating Manual. The complete Rating Manual will be available on the website of the local Stewart Title office in Delaware (http://www.stewart.com/delaware) in March.
Please feel free to contact the Delaware State Office at (302) 651-9201 with any questions or concerns.
Any agent using AIM+ should contact PropertyInfo Customer Care to get the new rate(s) changes implemented in their AIM+ 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.