ATG filed new Rates and Rules for Wisconsin title insurance policies with the State of Wisconsin Office of Commissioner of Insurance (OCI) on July 11, 2023. The revised Rates and Rules were designed to update fees to adequately reflect risk and expense factors and to clarify the application of existing rules.

Any transactions quoted or invoiced prior to July 31, 2023, are not affected. New rates will apply to all new quotes or invoices on or after July 31, 2023. Agents may at their own discretion begin using the new rates immediately. It is optional prior to July 31, 2023, and mandatory on or after that date.

The rate filing increases the premium for the Original Policy Rate and creates an additional tier of rate premium. 4044-C-WI. This means an overall increase in premium.  The minimum and maximum rate range remains in the filing.  The maximum amount is comparable to the premium charged by other underwriters.  

Please review the following ATG Rates and Rules Filling Forms: 4044-WI, 4044-A-WI, 4044-B-WI, 4044-C-WI.
The following rate chart is for premiums up to 10 million: 4044-WI 10M.

Listed below is a summary of all substantive rule changes.  Please note several specials rates have changed including the simultaneous rate, residential refinance rate, and the bifurcated rate. 

If you have any questions, please contact me. As always, we appreciate your business and ongoing support!

Thomas G. Cullen 
Vice President and Managing Attorney 
Wisconsin Operations
800.788.8989 or 262.347.0102
 

1. Section II, Paragraph A (page 3) – Original Policy Rate

The Original Policy Rate has changed.  This means the Rate Chart located in Appendix A of the Rule/Rate filing has new premium amounts (ATG Form 4044-C-WI). In addition, a new tier has been added within the Original Policy Rate. The filing creates a new tier for insurance purchased between $250,001 and $500,000.  

Please review page 3 of the Rule and Rate Filing for the new premium amounts of the Original Policy Rate. 

2. Section II, Paragraph C (page 4) – Residential Refinance Loan Policy Rate – Expedited and Full Searches

A. Expedited Searches

The loan policy rate has increased for expedited searches of residential refinances. Under the new rule the first $350,000 of title insurance coverage shall be charged at a flat rate of $450. The premium for title insurance over $350,000 shall be charged at $1.00 per thousand. The expedited rate is available to residential refinances of 1-million or less.  The premium for refinances over 1-million will be determined from the Original Policy Rate.     

Amount of Insurance     
First $350,000
$351,000 to $1,000,000 
Over 1,000,000

Expedited Search Rate
$450
Add $1.00 per thousand
Original Policy Rate

B. Full Searches

The threshold for the loan policy rate has been lowered to $350,000.  The premium amount has not changed.  

Amount of Insurance
First $350,000
Over $351,000

Full Search Rate
$525
Add $1.00 per thousand of insurance

3. Section II, Paragraph D (page 4) – Residential Construction Loan Policy Rate

The premium for the Residential Loan Policy Rate has not changed.  The rule clarifies that if the construction loan amount exceeds the amount of the Owner’s policy, if issued by ATG, the premium for the additional insurance will be based on the Original Policy Rate with the discount from the Reissue Rate.  

4. Section II, Paragraph E (pages 4-5) – Residential New Construction Refinance Rate

The premium for a residential construction loan being refinanced into permanent financing has increased to $325.  

5. Section II, Paragraph G (Page 5-6) - Simultaneous Issue Rate

The premium for the loan policy or policies issued simultaneously with the Owner’s Policy has increased to $450 for residential, and $750 for non-residential.      

6. Section II, Paragraph H (page 6) – Residential Bifurcated Owner’s and Loan Policy Rate 

The premium for a residential Loan Policy on a bifurcated transaction has increased to $450 up to 1-million of insurance.  Premium over 1-million of insurance is charged at $1.00 per thousand.   

7. Section II, Paragraph J (page 6) – Master Owner’s Policy and Take-Off Policy Rate

Take-off policies issued from a Master Policy shall be charged at the take-off policy rate of $200 for residential and $400 for non-residential.  The rate range from previous filings has been eliminated.  However, any Master Policy in existence as of the date of this filing shall continue to use the previous take-off policy rate until the Master Policy has been reduced to zero.   

8. Section II, Paragraph K – Employee/Agent Rate

This section has been eliminated.  

9. Section IV – Endorsements

Residential endorsement fees have not changed.  This includes the Gap endorsement at $150. Various non-residential fees have increased.  Please review ATG Form 4044-B-WI for updated fees.   
 

The following items have not changed with this Rate and Rule filing. This section has been included as a reminder and for clarification purposes:  

1. Section I, Paragraph B-2 (page 2) – Underwriting co-examination and rate approval needed prior to issuance of Commitments in excess of $3,000,000

Proposed Commitments in excess of 3-million require co-examination and rate approval from the ATG Wisconsin office. The complete search, including recorded documents and prior policy, if available, must be submitted for underwriting review. The title agent is required to submit a “Request for Authorization to Issue” (ATG Form 4222) and, upon written approval, the title agent will be authorized to issue the Commitment. 

2. Section I, Paragraph B-6 (page2) – Search Fee

At the discretion of the title agent, a search fee may be charged to the consumer.   The search fee is not title premium.  Therefore, the fee is not split with ATG.     

3. Section I, Paragraph B-7 (page 2) – Reinsurance Fees

For policies in excess of 3-million, ATG reserves the right to charge an additional premium for reinsurance expenses. The additional premium will not be part of the title agent premium split. The amount of additional premium charged will be determined by ATG at its sole discretion.  Please keep in mind that ATG will not automatically charge reinsurance on policies over 3-million. However, ATG retains the right to do so if appropriate for the transaction.  Any decision to charge reinsurance will be made after consultation with the agent.