Ohio Miscellaneous Regulatory Material DEPARTMENT OF INSURANCE BULLETINS Bulletin 95-4 Survey exception on mortgage title insurance policies	Effective Date August 1, 1995

It has come to the Department's attention that certain Ohio underwriters and/or agents are insuring over the standard survey exception in mortgage policies without requiring any evidence of a survey. The Department has concluded that this practice violates Chapter 3953 of the Revised Code. Insuring over the exception without benefit of survey is a casualty approach which, regardless of the amount of risk involved, is a violation for title insurance underwriters which, as monoline companies, are authorized to write only title insurance.

In any circumstance, when the title insurer waives, with evidence of survey, the survey exception for the mortgagee policy, the exception shall also be waived for the owner's policy of title insurance.

Harold T. Duryee
Director of Insurance

DATE NEW 1995

SUBJECT CATEGORY 200 - Title insurance / insurers
300 - The policy
400 - Insurance representatives
700 - Trade practices

INDEX
Title insurers and Property inspection and Violations
Underwriting rules and Title insurers and Property inspection
Title insurance and Property inspection and Waivers