Bulletin: WV2023002

Dear Associates:

The West Virginia Department of Insurance has approved the following form and rate revisions, which will become effective August 25, 2023:

A copy of the Revised West Virginia Manual of Charges and Forms for Title Insurance is available here.

A summary of the changes to the Rate Manual is included below.

1. Commercial Owner’s or Leasehold Owner’s Policies: Increases the rate from $2.00 to $2.10 per $1000 in the $1 M to $5 M bracket.
2. Commercial Loan Policy: Increases the rate from $1.50 to $1.70 per $1000 in the $500K to $1M bracket.
3. Commercial Loan Policy: Increases the Commercial Loan Policy Rate from $1.25 to $1.50 per $1000 in the $1M to $5M bracket.
4. Refinance Charge for Loan Policies: Specifies the Rate to be $2.25 per $1000 for loans up to and including $100,000.
5. Refinance Charge for Loan Policies: Specifies the Rate to be $1.50 per $1000 for loans from $100,001 to $500,000.
6. Refinance Charge for Loan Policies: Specifies the Rate to be $1.15 per $1000 for loans from $500,001 to $5,000,000.
7. Refinance Charge for Loan Policies: Specifies the Rate to be $0.75 per $1000 for loans from $5,000,001 to $10,000,000.
8. Refinance Charge for Loan Policies: Specifies the Rate to be $0.70 per $1000 for loans from $10,000,001 to $50,000,000.
9. Refinance Charge for Loan Policies: Specifies the Rate to be $0.45 per $1000 for loans above $50,000,000.
10. Simultaneous Issue Rates: Increases the Simultaneous Issue Rate from $100 to $500 for transactions with more than $1 million in liability.
11. Policies Insuring Transfers from an Open Decedent’s Estate: Specifies that the minimum charge for payment of this extra-hazardous risk charge to Stewart is $250.00.
12. ALTA 3.3 & 3.4 Endorsements: Revised to add a charge of 20% of premium with $150 minimum charge for each.
13. ALTA 34 & 34.1 Endorsements: Revised to add a charge of 20% of premium with a $250 minimum charge for each.
14. ALTA 47 Series: Added to the endorsement chart with No Charge.
15. ALTA 48 Endorsement: Added to the endorsement chart with No Charge.

In addition, several STG endorsements were added to the endorsement chart at No Charge: STG 2021 ALTA Homeowner’s Endorsement, STG Amendment of Covered Risk 10, STG Deletion of PACA-PSA Exclusion, STG Post Policy Forgery Endorsement, WV Payment of Loss Endorsement, STG Secondary Mortgage Market Endorsement, and a General Endorsement.

The new forms approved in this filing include the following:

• 9067 ALTA 23.1 Coinsurance Multiple Policies 5-12-22
• 9072 ALTA Short Form Residential Limited Coverage Junior Loan Policy (4-2-22)
• 9220 ALTA Residential Limited Coverage Mortgage Modification Policy without Arbitration (4-2-22)
• 9219 ALTA Residential Limited Coverage Junior Loan Policy without Arbitration (4-2-22)
• 9073 ALTA Endorsement JR 1 (4-2-22)
• 9074 ALTA Endorsement JR 2 (4-2-22)
• 9075 ALTA 48 Tribal Waivers and Consents (4-2-22)
• 9746 Secondary Mortgage Market Endorsement 1 (9-16-10)
• 9936 General Endorsement
• 9211 ALTA Loan Policy of Title Insurance, Schedule A, BI, BII without Arbitration (7-1-21) – This form was originally filed and approved in 2021, but it did not include a Schedule A with item #6. The version approved in this filing includes item #6 so that the option to incorporate a list of endorsements is now available.

The Rate Manual is attached. Please distribute to the appropriate associates within your company.

Please contact PropertyInfo Customer Care at customercare@stewart.com or your title production software vendor to have the new forms uploaded to your system.

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.