TX STG Request for Approval to Issue Overlimits (Large) Policy or Extra Hazardous Coverage

TX STG Request for Approval to Issue Policy
(Must be used if Amount of Insurance exceeds authority limits)

REQUEST FOR APPROVAL TO ISSUE POLICY
 
To: Stewart Title Guaranty Company             Date:                                                   

From:    ______________________________________________________________ [Name of Sender]
            __________________________________________________ [Company/Office, City, and State]
Telephone: ______________; Fax: ______________; Email: ____________________________

Re:       Title/File/Order No. ____________________________
            _____________________________________________________ [Property Address/Reference]

1. Title was examined from ______________ to _______________

2. Starter, if any. Please specify: (a) prior Company: ____________________; (b) prior Effective Date: ________________; (c) ______ Owner's Policy or ______ Loan Policy (check one). [*] Please attach a copy. [Must comply with Bulletin TX000065]

3. List the Policy Form(s), Type, Insured and Stewart’s Policy amount. If Policy Form not indentified, the form will be the 2006 ALTA Policy. Attach a copy of Commitments.

4. Description of Property (e.g., undeveloped, apartments, offices, etc.):                                            

5.  Describe transaction and purpose of financing (Briefly, but in detail):                                           

6. Describe any conflict or interest or potential conflict of interest. If none, write the word "None": _________________________________________________________________________________________

* May be modified to refer to other endorsements available in applicable states.

9. Does this file involve the following? (If applicable, write YES; if no, write NO):

_____ A construction loan?

_____ Broken-priority (e.g., early start) or no-priority? If so, please describe underwriting: _________________________________.

_____ Recent construction performed or completed within the lien period? If so, please describe underwriting: _________________________________________________________.  

_____ Request for Mechanic's Lien Coverage?

_____ Access based solely upon an easement (i.e., is there no direct access to a dedicated public street)? If so, was title to the access easement examined? _________

_____    Lien priority based upon subordination of a lien or mortgage
_____    Tidelands, filled land, submerged land, navigable waters or riparian issues

_____    Insuring title to railroad property
_____    Title based upon judicial proceedings (e.g., tax foreclosure, condemnation, bankruptcy)
_____    Title based upon foreclosure or deed in lieu of foreclosure
_____    Easement independent of real property (i.e., an easement in gross)
_____    Insured option
_____    Native American (Indian) lands
_____    Water rights
_____    Sheriff’s Sale in last 10 years (other than mortgage foreclosure)

_____    Other extra hazardous risks, such as those shown in VU Underwriting Manual Section 5.36

If yes to any of the above, please describe in the next section or by supplement.

10. Other unusual risks, issues and/or affirmative coverages, if any: ____________________________________________________________________________________
____________________________________________________________________________________

11. If this transaction involves co-insurance, list the co-insurers and their liability amounts/percentages:  ___________________________________________________________________________________
____________________________________________________________________________________

12. This policy will be issued by (must be completed):

______(a) an issuing agent authorized in the state, in compliance with state law; or

______(b) direct issue/home office, in compliance with state law.

______(c) attach completed T-00 signed by Entity Requesting Payment and the Agency Issuing the Policy/Paying for the Work

13. From our examination of the Title and the foregoing, we are of the opinion that the requested Policy complies with Company Guidelines, including, but not limited to, those on Virtual Underwriter, and can be safely issued. 

The requested coverages and endorsements are allowed to be issued in the state, and the rates to be charged will comply with state requirements.

Signature: __________________________________________ (Title Examiner/Chief Title Officer/Closer)
Printed Name: ______________________________          Title:  _________________________________ 

IF THERE ARE ADDITIONAL MATERIAL FACTS OR SUBSTANTIVE CHANGES OF CIRCUMSTANCES OR IF ADDITIONAL COVERAGES ARE REQUESTED, YOU MUST OBTAIN WRITTEN APPROVAL.  A COPY OF THE COMMITMENT OR TITLE REPORT MUST BE ATTACHED.

This approval is NOT an approval for Reinsurance.  If the Policy amount is $100,000,000.00 or larger contact our Reinsurance Department even if Reinsurance is not required, so that the transaction may be properly reported to management.
This approval form must be signed by your State, District or Division Counsel, or other Underwriter before forwarding to a Senior Underwriter.

APPROVAL      Re:       Title/File/Order No. ____________________________
Based upon the information above given, approval is hereby granted to issue the Policy as requested, subject to the following: ________________________________________________________________

Revised 7/6/11