Regulatory Alerts1994-03-01 | Bulletin 94-2Added · Updated
Bulletin 94-2: Title Insurance May Not Use Schedule B to Add Coverage
The Oregon Insurance Division issued Bulletin 94-2 to prohibit title insurers and agents from using Schedule B to provide additional coverage for dual mortgages. This practice constitutes the use of unauthorized rates and forms in violation of ORS 737.320 and 742.003, as Schedule B is strictly reserved for exceptions and clarifications. Regulators require the immediate cessation of this activity and the issuance of two separate policies until appropriate endorsed products are filed and approved.
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