Bulletin: KY2013001

Date:
August 01, 2013
To:
All Kentucky Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revised Schedule of Charges Effective August 2, 2013

Dear Associates:

Stewart Title Guaranty Company has filed with the Kentucky Department of Insurance a Revised Schedule of Charges for use in the State of Kentucky which will become effective August 2, 2013. An electronic version of the rate book can be found here for your convenience.

The Revised Schedule of Charges contains several important changes. The changes include the charge for Reissue and Refinance transactions, which will move from 50% to 70% of original rates (i.e. the discount will change from 50% to 30%). Charges for the ALTA Homeowner’s Policy and the ALTA Expanded Coverage Residential Loan Policy (and the Short Form thereof) will be increased from 110% to 115% of original rates. And lastly, there has been a change to the pricing on commercial transactions. On transactions from $1,000,000 to $5,000,000, there will be a minimum charge of $1.25 per thousand for Owner’s policies, and $1.00 per thousand for Loan policies. For pricing on transactions larger than $5,000,000, the appropriate Stewart underwriting office must be contacted.

Please remember to continue using the current rate manual until August 2, 2013

Any agent using AFW or AFW+ should contact PropertyInfo Customer Care at 1-888-526-3282 to have the new rates implemented in their system. For agents on any other software system, please contact your software provider.

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