If the policies or aggregate risks to be issued are in excess of $_________, issuance of this commitment and the policies is subject to the approval of Stewart Title Guaranty Company and its reinsurers and any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company or its reinsurers. This commitment shall not be effective unless and until such approval is obtained.
Comment: It is preferable not to issue commitments before the issuing agent secures the Company’s approval if required in the transaction. This requirement must be added if the policy to be issued exceeds $11,414,939.80 in Michigan, $5,000,000 in Guam, or $5,000,000 in Saipan. This requirement must be added in other jurisdictions even if the Policy to be issued will not exceed $25,000,000 when the proposed insured requires reinsurance.
Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.