Bulletin: MT2017002

Date:
November 21, 2017
To:
All Montana Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Rate Manual Update

Dear Associates:

Effective Date: September 19, 2017

A new Rate Manual has been filed with the Montana Department of Insurance. The new Manual went into effect on September 19, 2017. A small amendment to the Manual to correct a typo in one of the simultaneous rates was made this month. That change will go into effect December 11, 2017. After December 11, 2017, the Rate Manual you should be using should reference the December 11, 2017, date. The new Manual has only one major change. The Rate Manual now provides for a “SMART Policy”. The rates and additional exceptions to be used for the SMART Policy can be found on page 12, Paragraph E. 12.

The typo that was corrected on December 11, 2017, is found on page 14 paragraph F. The Rate Manual indicated a 130% charge for an extended lender’s policy when issued with an extended owner’s policy. It should have said 30%, not 130%.

Agents, please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/forms changes implemented in your system.

These changes have been made to the Rate Manual, which will be available in December at http://www.stewart.com/montana.en.html.  

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:
None