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: AZ2024001
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Bulletin: AZ2024001
Dear Associates:
The Arizona Department of Insurance has approved the following form and rate revisions, which become effective April 1, 2024:
A copy of the Revised Arizona Manual of Charges and Forms for Title Insurance is available here.
A summary of the changes to the Rate Manual is outlined below.
- The Closing Protection Letter (CPL) fee was increased by $5.00 (see page 24).
- There were also several revisions to language and formatting throughout the rate manual.
The new forms approved in this filing include the following:
- Two new CPL's were filed: (1) STG Arizona Single Transaction CPL and (2) STG Arizona Seller CPL - Single Transaction.
The Rate Manual is attached. Please distribute to the appropriate Associates within your company.
MODIFICATIONS TO CPL FORMS
Closing Protection Letters may not be (1) modified, (2) prepared by an Issuing Agent on its letterhead or in any other format, or (3) typed, computer generated, or signed by any agent.
Stewart’s current policy and CPL production system (“Stewart Connect”) contains the most current Closing Protection Letter(s) approved for issuance and maintains a record of all such CPLs generated as issued.
These rates have been provided to third-party TPS vendors. Please contact your TPS vendor or account services representative to have the new rates implemented in 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.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None