T-48 Guideline - Coinsurance

Organizational Guidelines

T-48 Guideline - Coinsurance

Guideline Document
V 1


The use of this endorsement is governed by Procedural Rule P-6c:

Where the total amount of a single risk is in excess of $15,000,000 (Fifteen Million Dollars), and when such risk is insured by more than one title insurance company, one title insurance company may issue a policy and the other co-insurers may join in execution of the Co-Insurance Endorsement (T-48), in lieu of separate issuance of a policy subject to the terms of paragraph (a). The premium shall be determined for the total risk being insured under the policy and the premium shall be apportioned between or among the different companies on a pro rata basis commensurate with the amount of risk insured by each title insurance company as specified in the Co-Insurance Endorsement (T-48). The Amount of Insurance stated in Schedule A shall be the total risk being insured under the policy, followed by the statement “Subject to the terms of the Co-Insurance Endorsement (T-48) attached hereto.”

Underwriting Requirements:

1.    The total amount of all reinsurance policies must exceed $15,000,000.

2.    The “lead” insurer issues its policy and all other co-insurers then issue a Co-insurance Endorsement T-48.  Note: each underwriting company signs the endorsement, they do not issue separate policies.  If a title insurance agent is handling the transaction and would be counter signing the policy if a policy rather than a T-48 were being issued and the transaction is not a home office issue (i.e., the agent is licensed to the county), the agent can sign the T-48.

3.    Names, addresses and policy amounts assumed are set out in the endorsement as are the individual guaranty file numbers assigned by each underwriter.

4.    The Company issuing the policy should include the entire risk amount of Schedule A and add:  Subject to the terms of the Co-Insurance Endorsement attached here to.

5.    See Co-insurance Bulletin Tx-2014003 for additional information.


For further guidance, refer to the applicable subsections in Section 11.04 of the National Underwriting Manual on Virtual Underwriter http://www.vuwriter.com/vumanuals.jsp?displaykey=UM00000208

Any revision to this form requires approval of a Stewart Title Guaranty Company underwriter. 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):