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.
Bulletin: NJ2018001
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Bulletin: NJ2018001
Dear Associates:
Changes have been made to the New Jersey Rate Manual effective December 31, 2017. Please take the opportunity to familiarize yourself with the updated Rate Manual, which the Department of Banking and Insurance has approved for use in New Jersey as of December 31, 2017. This revision removed Section 10.45 of the Rate Manual which read:
10.45 GOING CONCERN ENDORSEMENT
This endorsement, when affixed to a title insurance policy, provides assurances that, in the event of a loss covered under the policy, the determination of the value of the insured estate or interest in the land shall include consideration of the use or uses to which the land is being put at the time of the loss. The charge for this endorsement shall be 20% of the applicable Underwriting Charge.
Pursuant to this revision, the Going Concern Endorsement (Section 10.45) is no longer available for use in New Jersey.
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References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None