Coinsurance
Underwriting Manuals
Standard Exceptions
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Table of Contents
COI
Coinsurance
There are two types of coinsurance: coinsurance with one or more title insurers where each issues a separate Policy (or joins in the same Policy) to assume a portion of the total liability; and coinsurance by the insured where the aggregate Policy or Policies are issued for less than the sales price or loan and the insured assumes a portion of the risk.
Exceptions
COIX01
STG
03/07/2006
V
2
Coinsurance
This policy is issued contemporaneously with Policy No._____________ of (Name of Insurance Company (ies) for $___________________. The liability of the Company hereunder is hereby limited to ____________ of any loss, but said liability shall not exceed the face amount of this policy.
Comment: Use this exception where two or more title insurers issue a separate Policy assuming part of the risk on a Mortgagee or Owner Policy.
Comment: Use this exception where two or more title insurers issue a separate Policy assuming part of the risk on a Mortgagee or Owner Policy.