Bulletin: GM000002
Dear Associates:
Before obtaining reinsurance, your office must first obtain the standard overlimits approval from Stewart Title Guaranty Company to issue a large commitment and/or policy as required by your agency, retainer, or underwriting agreement with Stewart Title Guaranty Company.
Stewart Rei...
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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
Policy: If the 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 policies must be obtained from Stewart Title Guaranty Company. This commitment and any policies to be issued are subject to any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company.
Policy Requires Reinsurance: If the policies to be issued are in excess of $10 million, issuance of this commitment and the policies is subject to the approval of Stewart Title Guaranty Company and its reinsurers prior to issuance. This commitment and any policies to be issued also are subject to any additional limitations, requirements, or exceptions made by Stewart Title Guaranty Company and its reinsurers.
Remember: Before obtaining reinsurance, your office must first obtain the standard overlimits approval from Stewart Title Guaranty Company to issue a large commitment and/or policy as required by your agency, retainer, or underwriting agreement with Stewart Title Guaranty Company.