- September 14, 2016
- All Nebraska Issuing Offices
- RATES AND/OR FORMS UPDATE - Revised Nebraska Rate Manual
The Nebraska Title Insurance Rate Manual has been revised and updated. Some of the changes incorporated in the revision are:
- Negotiable Charge for High Liability Commercial Policies: The premium charge for commercial transactions of $5,000,000.00 or more may be as low as 60% of the basic rate, subject to certain factors listed in the Manual.
- ALTA Residential Limited Coverage Mortgage Modification Policy: This form may be used to provide modification coverage when the existing policy was issued by another Insurer. This will help to streamline situations in which the original issuing agent has gone out of business and is thus unable to issue a Modification Endorsement on the prior Insurer’s paper.
- A comprehensive list of all filed endorsements with premium charges is a part of the Manual, in a more user-friendly format.
Several editorial and stylistic changes have been made to the language of the Manual to clarify the information therein.
The new Nebraska Rate filing has an effective date of September 1, 2016, and will be distributed in the very near future.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
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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.