STG Secondary Insurance Endorsement Guideline 2
Explanation:If the Insured has a prior Policy and requests a new Policy or additional coverage for only the additional amount and endorsement to the prior Policy is not possible (for example, where the prior Policy was issued by another insurer or where a new Policy is requested solely on a new mortgage instrument), then a new Policy may be issued for the additional amount, provided it is not violative of state law and regulation and provided that an excess or stacking provision is inserted in the new Policy.
Underwriting Requirements:(1) Satisfactory determination that state law and regulation are not violated by issuance of such Policy; and
(2) Senior Underwriter approval is required for issuance of these endorsements.
The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):