OTIRO Endorsement No. 108 - Co-Insurance with Limited Joint and Several Provision Endorsement

ENDORSEMENT

ATTACHED TO POLICY NO. [FILL IN]

ISSUED BY

STEWART TITLE GUARANTY COMPANY

[Date           : [FILL IN] ]

[Premium    : [FILL IN] ]

Attached to and made a part of Issuing Co-Insurer’s Policy No. ____________________ (“Co-Insurance Policy”).  Each title insurance company executing this Co-Insurance Endorsement, other than the Issuing Co-Insurer, shall be referred to as a “Co-Insurer.”  Issuing Co-Insurer and each Co-Insurer are collectively referred to as “Co-Insuring Companies.”

By issuing this endorsement to the Co-Insurance Policy, each of the Co-Insuring Companies adopts the Co-Insurance Policy’s Covered Risks, Exclusions, Conditions, Schedules and endorsements, subject to the limitations of this endorsement.

Co-Insuring Companies

Name and Address

Policy Number [File Number]

Amount of Insurance

Percentage of Liability

Issuing Co-Insurer

$

Co-Insurer 

$

Co-Insurer

$

Co-Insurer

$

Aggregate Amount of Insurance

$

2. Each of the Co-Insuring Companies shall be liable to the Insured only for its Percentage of Liability of:  (a) the total of the loss or damage under the Co-Insurance Policy, but in no event greater than its respective Amount of Insurance set forth in this endorsement; and (b) costs, attorneys’ fees and expenses provided for in the Conditions.

3. Notwithstanding Paragraph #2 of this endorsement, each of the Co-Insuring Companies shall be jointly and severally liable with the other Co-Insuring Companies for the first $[Insert Amount] of any loss or damage compensable under its Co-Insurance Policy, including costs, attorneys’ fees and expenses provided for in the Conditions.

4. Any notice of claim and any other notice or statement in writing required to be given under the Co-Insurance Policy must be given to each of the Co-Insuring Companies at its address set forth above.

5. Any endorsement to the Co-Insurance Policy issued after the date of this Co-Insurance Endorsement must be signed by each of the Co-Insuring Companies by its authorized officer or agent. 

6. This Co-Insurance Endorsement is effective as of the Date of Policy of the Co-Insurance Policy.  This Co-Insurance Endorsement may be executed in counterparts.

This endorsement is issued as part of the Coinsurance Policy.  Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance.  To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.  Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.

DATED: ______________

Issuing Co-Insurer:

STEWART TITLE GUARANTY COMPANY 

By:                                                      

Co-Insurer:

STEWART TITLE GUARANTY COMPANY 

By:                                                      

Co-Insurer:

[Additional Co-Insurer signatures may be added if needed.] 

[Order Reference: [FILL IN] ]

STEWART TITLE GUARANTY COMPANY 

[BY: _______________________________]

[Authorized Signer].

[Witness clause optional]