Bulletin: SLS2015011

Date:
July 27, 2015
To:
All Issuing Offices
RE:
UNDERWRITING - Overlimits Request Form and Related Documentation

Dear Associates:

This Bulletin reminds you that underwriting approval from the Company is required under a variety of circumstances, including but not limited to situations where policy amounts exceed an Issuing Office’s underwriting authority limits, where there are mechanic’s lien issues, or other extrahazardous risks, etc. The STG Request for Approval to Issue Overlimits (Large) Policy or Extra Hazardous Coverage Form (the "Overlimits Form") is the primary means for requesting underwriting approval. If endorsements are requested, an applicable Endorsement Supplement, or a concise list of requested endorsements, must accompany the Overlimits Form.

Please note that the STG High Liability (Over $30 Million) Mechanic's Lien Coverage Approval Request is required in addition to the Overlimits Form for high liability transactions involving mechanic's lien coverage. The STG High Liability (Over $30 Million) Mechanic's Lien Coverage Approval Request is not a substitute for the Overlimits Form.

The above-referenced forms are available in the STG Forms Section on Virtual Underwriter. Guidelines are also available. Please access these forms and guidelines on www.vuwriter.com.

The above-referenced forms are revised from time to time. Please use the most recent version of each of these forms when submitting an Overlimits Request. The date of the most recent revision of these forms appears below, and at the bottom of the form posted in Virtual Underwriter. Please ensure that your system is updated promptly with the most current versions of these forms each time they are revised, or please return to Virtual Underwriter each time to download the most current version of these forms. A request submitted using a prior version of the Overlimits Request Form may be returned to you and may delay review of the request.

Form:

Revision Date:

Request for Approval to Issue (“Overlimits Form”)

03-26-15

ALTA Endorsement Supplement

06-05-14

LA Endorsement Supplement

03-28-14

PA Endorsement Supplement

04-01-15

TX Endorsement Supplement

04-14-14

STG High Liability (Over $30 M) Mechanic’s Lien Approval Request

06-25-14

Agents using AIM+ will have the updated version of the Overlimits Form available in their system automatically. Agents using AFW must manually update the form on their system or contact Customer Care to receive the updated version from the Stewart National Forms Library to upload to their AFW account. AIM+ users are reminded to please include all components of the Overlimits Form, including questions 1-14, when assembling the form using AIM+.

A pdf version of the most current Overlimits Form is also available on VU. After downloading the pdf version, users can input responses and save the completed document.

This Bulletin also reminds you of the recently-implemented procedure for submitting Overlimits Requests. Please complete (online, if possible) the current Request for Approval to Issue Overlimits (Large) Policy or Extra Hazardous Coverage form. Please print the completed Overlimits Request, sign it, and email it to PolicyApprovalRequest@stewart.com, with a copy to your underwriting contact, if applicable. Please be thorough when completing the Overlimits Request, as missing information may delay processing, and may cause the Overlimits Request to be returned to you for additional information. Please attach a copy of the commitment or preliminary report and other applicable documentation, if any. Please keep a copy of all documents for your records. 

You will receive an email from StewartAccessUnderwriterAdmin-NOREPLY@stewart.com after your Overlimits Request has been reviewed. Please save this email address in your contacts list to avoid its inadvertent designation as spam/junk email. The email will describe additional conditions and requirements, if any, required for issuance of a policy.

Also as a reminder, Overlimits approval is different from Reinsurance approval. Reinsurance approval must be obtained separately. If the transaction involves reinsurance, please contact the Reinsurance Department as early as possible.

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.