Bulletin: UK000001
Dear Associates:
Before obtaining reinsurance, your office must first obtain the standard overlimits approval from Stewart Title Insurance Company (UK) in order to issue a large commitment and/or title guaranty or policy as required by your agency, retainer, or underwriting agreement with Stewart Ti...
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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.
EXHIBIT 1
National Requirements
Overlimit of Issuing Agent
Title Guaranty or Policy: If the title guaranty or policies to be issued are in excess of the limits of the issuing agent's underwriting authority as set forth in the underwriting agreement or involve unusual risks, approval to issue such title guaranty or policies must be obtained form Stewart Title Insurance Company (UK) Limited. This commitment and any title guaranty or policies to be issued are subject to any additional limitations, requirements or exceptions.
Title Guaranty or Policy Requires Reinsurance: If the title guaranty or policies to be issued are in excess of 200,000 pounds, issuance of this commitment and the title guaranty or policies are subject to the approval of Stewart Title Insurance Company (UK) Limited and its reinsures prior to issuance. This commitment and any title guaranty or policies to be issued are also subject to any additional limitations, requirements or exceptions.
Remember: Before obtaining reinsurance your office must first obtain the standard overlimits approval from Stewart Title Insurance Company (UK) Limited to issue a large commitment and/or title guaranty or title guaranty or policy as required by your agency, retainer, or underwriting agreement.