Bulletin: CT2019004

Date:
October 08, 2019
To:
All Connecticut Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - NEW Homeowner’s Plus Endorsement

Dear Associates:

The Connecticut Insurance Department recently approved the submission of the Homeowner’s Plus Endorsement which will be available for use in Connecticut as of November 7, 2019. This form can be viewed via the link below and will be available on Virtual Underwriter. 

The Homeowner’s Plus Endorsement will benefit the insureds of Homeowner’s Policies as follows:

1.  PARAGRAPHS 1 and 2 alleviate the need to issue future endorsements, requests for which are made frequently, by providing automatic coverage for post policy transfers by an individual insured to a wholly owned corporate entity or transfers to or from spouses.

2.  PARAGRAPH 3 effectively provides coverage based on Conn. Gen. Stat. Section 29-265 with respect to lack of certificates of occupancy.

3.  PARAGRAPH 4 reduces coverage ceilings which, based on our claims history for the said coverage risks, rarely if ever occur.

This endorsement is only available for the Homeowner’s Policies used for 1-4 family residential properties.

Please contact Property Info Customer Care or your title production software vendor to get the new rate/form changes implemented in 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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
Homeowner’s Plus Endorsement