Large Policies
Underwriting Manuals
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Table of Contents
LAR
Large Policies
If the proposed policies or coverages involve unusual risks or if the proposed amount exceeds the issuing agent’s limits, the issuing agent must secure appropriate approval of the transaction by the Company.
Requirements
LARR01
STG
12/01/1995
V
2
Over Agency Limits
If the policies to be issued are in excess of $_________________ or involve unusual risks, approval to issue such policies must be obtained from Stewart Title Guaranty Company. This commitment and any policies to be issued are subject to any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company.
Comment: It is preferable not to issue commitments before the issuing agent secured the Company’s approval where required in the issuing agent’s contract. If that approval is not yet secured, you must add this requirement.
Comment: It is preferable not to issue commitments before the issuing agent secured the Company’s approval where required in the issuing agent’s contract. If that approval is not yet secured, you must add this requirement.
See Underwriting Manual
LARR02
STG
12/01/1995
V
2
Reinsurance (Over $25,000,000)
If the policies or aggregate risks to be issued are in excess of $25,000,000, issuance of this commitment and the policies is subject to the approval of Stewart Title Guaranty Company and its reinsurers and any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company or its reinsurers. This commitment shall not be effective unless and until such approval is obtained.
Comment: It is preferable not to issue commitments before the issuing agent secures the Company’s approval if required in the transaction. If that approval is not yet secured, you must add this requirement.
Comment: It is preferable not to issue commitments before the issuing agent secures the Company’s approval if required in the transaction. If that approval is not yet secured, you must add this requirement.
See Underwriting Manual
LARR03
STG
12/01/1995
V
2
Reinsurance (Over $____________)(Michigan, Guam
If the policies or aggregate risks to be issued are in excess of $_________, issuance of this commitment and the policies is subject to the approval of Stewart Title Guaranty Company and its reinsurers and any additional limitations, requirements or exceptions made by Stewart Title Guaranty Company or its reinsurers. This commitment shall not be effective unless and until such approval is obtained.
Comment: It is preferable not to issue commitments before the issuing agent secures the Company’s approval if required in the transaction. This requirement must be added if the policy to be issued exceeds $11,414,939.80 in Michigan, $5,000,000 in Guam, or $5,000,000 in Saipan. This requirement must be added in other jurisdictions even if the Policy to be issued will not exceed $25,000,000 when the proposed insured requires reinsurance.
Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.
Comment: It is preferable not to issue commitments before the issuing agent secures the Company’s approval if required in the transaction. This requirement must be added if the policy to be issued exceeds $11,414,939.80 in Michigan, $5,000,000 in Guam, or $5,000,000 in Saipan. This requirement must be added in other jurisdictions even if the Policy to be issued will not exceed $25,000,000 when the proposed insured requires reinsurance.
Note: You may add additional local requirements here. Please consult with our underwriting personnel in preparing appropriate provisions.