Bulletin: VA2016001

Date:
March 24, 2016
To:
All Virginia Issuing Offices
RE:
UNDERWRITING – Inter-Underwriter Indemnity Treaty

Dear Associates:

We are pleased to announce that Stewart Title Guaranty Company has executed an Amendment to the Inter-Underwriter Indemnity Agreement (the “Agreement”) adding the following additional underwriters (the “Additional Parties”) to the Agreement:

Conestoga Title Insurance Company

Investors Title Insurance Company

North American Title Insurance Company

Title Resources Guaranty Company

Westcor Land Title Insurance Company

WFG National Title Insurance Company

Pursuant to the Amendment, Stewart Title Guaranty Company and the Additional Parties have agreed to be mutually bound by the terms of the Agreement as of April 3, 2016. The Agreement allows agents of participating title underwriters to issue owner's or lender's title policies without exception to certain known prior defects provided an owner's (or in limited circumstances a lender's title policy) has been previously issued by a participating underwriter which does not except to the specific title issue, and provided further that the matter is covered under the Agreement.

Please be sure to carefully review the Agreement and prior Underwriting Bulletin VA2015002, issued October 9, 2015, which explains the Agreement in detail. Underwriting Bulletin VA2015002 remains in effect, subject to the following modifications:

1-  We do not require that the “Prior Policy” be at least one year old: and

2-  Before relying on the Agreement, you must contact Underwriting Counsel to confirm the Agreement is applicable to your scenario.

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:
VA2015002 UNDERWRITING - Inter-Underwriter Indemnification Treaty
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None