Greetings,

In New York, the pricing and availability of title insurance coverage are approved by the Title Insurance Rate Service Association (“TIRSA”) and the Superintendent of the New York State Department of Financial Services (“DFS”). The pricing and availability of these products are compiled in the TIRSA Rate Manual. The upcoming revision of the Rate Manual is the most substantial amendment to date and will be effective for title insurance policies issued on or after October 1, 2024.

The most important changes are the addition of new endorsements and new endorsement forms previously not available in New York and the prohibition of the use of affirmative insurance unless such affirmative insurance is contained in an endorsement approved for use in New York and contained in the Rate Manual.

If you have a transaction that is adjourned past September 30, 2024, any current pro formas will need to be revised to reflect the requirements of the new Rate Manual. This may include the removal of affirmative coverage and addition of endorsements.

Please find a linked PDF below featuring all endorsements with corresponding bookmarks.

All Endorsements Compiled and Bookmarked (3.8.2024) . PDF

Prestige Title is here to provide guidance to walk you through any questions that you may have regarding these changes. Please do not hesitate to contact the individuals below with any questions.

Thank you.

Anthony Chiellino: achiellino@prestitle.com

John Bauer: jbauer@prestitle.com

Ryan Considine: rconsidine@prestitle.com

www.Prestitle.com