ALTA Endorsement 23.1-06 (Co-Insurance - Multiple Policies) (08-01-16)

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ALTA Endorsement 23.1-06 (Co-Insurance - Multiple Policies) (08-01-16)

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Form Document
08/29/2016
V 1

ENDORSEMENT

Attached to Policy No. __________

Issued by

STEWART TITLE GUARANTY COMPANY

 (“Issuing Co-Insurer”)

Attached to and made a part of Issuing Co-Insurer’s Policy No. _____________ (“Co-Insurance Policy”). Each title insurance company executing this 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.”

1. 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, except an [ALTA Aggregation Endorsement (ALTA 12-06 or ALTA 12.1-06)][ALTA 12-06 or ALTA 12.1-06 Aggregation Endorsement], if any, issued by any other Co-Insuring Company, 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

 

 

$

 

Total Co-Insurance Amount

 

 

$

 

2. If the Co-Insurance Policy is aggregated with other policy liability of the Issuing Co-Insurer using [either] an [ALTA Aggregation Endorsement (ALTA 12-06 or ALTA 12.1-06)][ALTA 12-06 or ALTA 12.1-06 Aggregation Endorsement], each Co-Insurer’s policy liability is aggregated with that of Issuing Co-Insurer, but only to the extent that Co-Insurer issues its own [ALTA Aggregation Endorsement (ALTA 12-06 or ALTA 12.1-06)][ALTA 12-06 or ALTA 12.1-06 Aggregation Endorsement] showing that Co-Insurer’s policy liability and Aggregate Amount of Insurance is consistent with the [a][A]ggregation [e][E]ndorsements of Issuing Co-Insurer.

3. Each of the Co-Insuring Companies shall be liable to the Insured only for its Percentage of Liability of:

(a) the total loss or damage under the Co-Insurance Policy, but in no event greater than its respective Aggregate Amount of Insurance set forth in its [ALTA Aggregation Endorsement (ALTA 12-06 or ALTA 12.1-06)][ALTA 12-06 or ALTA 12.1-06 Aggregation Endorsement], if any; and

(b) the 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][the] address set forth above.

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

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

This endorsement is issued as part of the Co-Insurance 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:

STEWART TITLE GUARANTY COMPANY

By:                                                      

 

Co-Insurer:

STEWART TITLE GUARANTY COMPANY

By:                                                      

 

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

This endorsement is issued as part of the 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.

No guidelines are available for this form at this time.