Bulletin: OH2023002
Dear Associates:
The Ohio Title Insurance Rating Bureau has approved the following revised Rate Manual and Rate Rules for use in Ohio, effective June 1, 2023:
New Amended RATE RULES Filed:
A reference to the ALTA 9.10 endorsement has been added to section ER-8.1 (page 36) and section ER-101 (page 78). This does not change the currently filed rates.
ER-8.1 OTIRB OH-8.1 ENVIRONMENTAL PROTECTION LIENS
(ALTA FORM 8.1)
This endorsement may be issued only in connection with loan policies issued on residential property and insures the priority of the mortgage lien against existing or subsequently recorded federal or state environmental protection liens, except with respect to environmental protection provided for by certain statutes identified in the endorsement.
The rate for this endorsement is $75. If this endorsement is issued along with an ALTA 9 (OTIRB OH-9) or ALTA 9.10 (OTIRB OH-9.10) endorsement on the same policy, then the rate for this endorsement is $50.
ER-101 OTIRB OH-101 SURVEY COVERAGE, LOAN POLICY
This coverage, whether provided within the express insuring provisions of the policy issued, by the absence or deletion of a survey exception within the policy, or by endorsement expressly providing such coverage, pursuant to “evidence of survey” in compliance with Ohio Department of Insurance Bulletin 95-4, has the effect of insuring without exception for matters discoverable by a boundary survey, except as might be specifically noted in Schedule B of the policy.
The rate for Loan Policy survey coverage is $50. If the Loan Policy survey coverage under this Rule ER-101 is provided and an ALTA Form 9 (OTIRB OH-9) or an ALTA 9.10 (OTIRB OH-9.10) endorsement is issued under the same policy, then the rate for the Loan Policy survey coverage is $25.
The new Rate Manual is attached.
As a reminder, the most current version of the ALTA form available in each state for issuance with the applicable version of the ALTA Policy should be used, unless approved by a Stewart underwriter.
Please contact Property Info Customer Care at customercare@stewart.com or your title production software vendor to have the new forms uploaded to your 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.