Bulletin: DE2011002

Dear Associates:

Last year the Delaware Title Insurance Rating Bureau ("DTIRB") submitted to the Delaware Department of Insurance a request for an increase in rates, as well as a filed CPL with a fee. 

The request was recently approved by the Delaware Department of Insurance and will have an effective date of March 1, 2011.  Below please find a summary of the revisions, as well as the corresponding section of the Rating Manual affected:

The following sections of the Rating Manual have been revised to reflect an increase in the rate schedule:

Section 3.2 – Original Title Insurance Rates for Owner’s Policies

Section 3.3 – Rate for Reissue Owner’s Policy

Section 3.6 – Original Title Insurance Rates for Loan Policies

Section 3.7 – Rate for Reissue Loan Policy

Section 3.10 – Assignment of Mortgage

Section 3.11 – Extension or Modification of an Insured Mortgage

The following sections have been added to the Rating Manual:

Section 7 Supplemental Charges   

Section 7.1 Closing Protection Letter – Single Transaction Limited Liability – provides description of the Closing Protection Letter as well as the $75.00 fee per transaction.

Section 8 Supplemental Forms – Closing Protection Letter – DTRIB CPL (03/01/2011)

The complete Rating Manual can be found on the website of the local Stewart Title office in Delaware (http://www.stewart.com/delaware). 

Please feel free to contact the Delaware State Office at (302) 651-9201 with any questions or concerns.

If you have any questions relating to this or other bulletins, please contact your local underwriting personnel or Stewart Legal Services.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.