Bulletin: PA2022001

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Bulletin: PA2022001

Bulletin Document
Date: September 06, 2022
To: All Pennsylvania Issuing Offices
RE: RATES AND/OR FORMS UPDATE - New and Revised 2021 ALTA Forms and September 1, 2022, TIRBOP Rate Manual

Dear Associates:

As many of you are aware, the Title Rating Insurance Bureau of Pennsylvania (TIRBOP) recently adopted a revised Rate Manual and new/revised forms that were to be effective as of September 1, 2022. However, many software providers made it known that they would not be able to produce the new/revised forms by the proposed effective date.

In light of this difficulty, TIRBOP filed amended copies of the revised Rate Manual and the new/revised forms with the Pennsylvania Insurance Department (PID) delaying the effective date of both until April 1, 2023. The PID approved this filing on August 22, 2022.

Therefore, the current Rate Manual and forms will remain effective and in use for the time being, and the revised Rate Manual and the new/revised forms will not be effective until April 1, 2023. A bulletin providing an overview of the revised Rate Manual and the new/revised forms will be released closer to the new effective date.

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