Advocus filed new Rates and Rules for Wisconsin title insurance policies with the State of Wisconsin Office of Commissioner of Insurance (OCI) on November 15, 2024. 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 November 15, 2024, are not affected. New rates will apply to all new quotes or invoices on or after November 15, 2024. Agents may at their own discretion begin using the new rates immediately. It is optional prior to November 15, 2024, 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. 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 Advocus 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-D-WI.

Listed below is a summary of all substantive rule changes. Please use Advocus form 4044-WI to provide context to the summarized changes.

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

Thomas G. Cullen 
Wisconsin Underwriting Counsel
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 this filing has new premium amounts (form 4044-C-WI). In addition, a new tier has been added within the Original Policy Rate. The filing created a premium tier for insurance purchased between $300,001 and $500,000.

Please review page 3 of the Rule and Rate Filing for the new premium amounts of the Original Policy Rate. Appendix A of the Rule and Rate filing has a 2-million­ dollar rate chart (Form 4044-C-WI). Also attached to this memorandum is a 10-million rate chart. The rates continue to provide a minimum and maximum rate. The agent may select to use any premium that is within the rate range.

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 on expedited searches of residential refinances. This rate is not available for non-residential property. Under the new rule the first $350,000 of title insurance coverage shall be charged at a flat rate of $500. The premium for title insurance over $350,000 shall be charged at $1.00 per thousand. The expedited search 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 Loan Policy rate has increased on full searches of residential refinances. Under the new rule the first $350,000 of title insurance coverage shall be charged at a flat rate of $575. The premium for title insurance over $350,000 shall be charged at $1.00 per thousand. The full search 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
Over $351,000
Over $1,000,000

Full Search Rate
$575
Add $1.00 per thousand of insurance
Original Policy Rate

3. Section II, Paragraph D (pages 4-5) – Residential Construction Loan and Owner's Policy Rate

This section has been expanded to provide a rate for both the Loan and Owner's policy for residential construction. The title premium for a Loan Policy has been increased as follows:

Amount of Insurance
First $400,000
Over $400,000

Full Search Rate
$775
Add $1.00 per thousand of insurance

The title premium for an Owner's policy rate is a new rule/rate filing. The rate will vary depending on the circumstances. If, as in most cases, the Owner's Policy is being issued simultaneously with the construction Loan Policy and is equal to or than the Loan Policy coverage, the premium for the Owner's Policy is $300.00.

4. Section II, Paragraph G (pages 5-6) – Simultaneous Issue Rate

The premium for the loan policy or policies issued simultaneously with the Owner's Policy has increased to $500 for residential, and $800 for non- residential.

5. 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 $500 up to 1-million of insurance. Premium over 1-million of insurance is charged at $1.00 per thousand.      

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

The Master and Take Off Policy rules have been clarified. Take-off policies issued from a Master Policy shall be charged at the take-off policy rate of $250 for residential and $500 for non-residential. Any Master Policy in existence as of the date of this rule/rate filing shall continue to use the previous take-off policy rate of $200 residential and $400 for non-residential. The old rate will apply until the existing Master Policy has been reduced to zero.

7. Section II, Paragraph K (page 7) – Charitable Non-Profit Organization Rate

This section has been eliminated. 

8. Section II, Paragraph K (page 7 replacement) – Survey Clearance for Non-Residential Policies up to $5,000,000.

On non-residential Loan Policies of $5,000,000 or less the Standard Exceptions for survey coverage (Standard Exceptions 2 and 3) may be insured over, without a survey, for a premium of $600. This rule/rate is not available for vacant land or new construction and must be less than 30 acres of land. The rule/rate is not available for Owner's Policy coverage.

9. Section IV – Endorsements (pages 9-14)

There have been significant changes to the endorsement list of the rule/rate filing. Many new forms have been added to the endorsement list. The premium for most endorsements for both residential and non-residential has increased. This includes the Gap endorsement which increased to $175 for residential, and $300 for non­ residential. Please review Advocus 4044-B-WI for the updated endorsement list.

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 Advocus National Title Insurance Company. The complete search, including recorded documents and prior policy, if available, must be submitted for underwriting review. The title agent may be required to submit a "Request for Authorization to Issue" (Form 4222) and, upon written approval, the title agent will be authorized to issue the Commitment.

2. Section I, Paragraph B-6 (page 2) – 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 Advocus.

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

For policies in excess of 3-million, Advocus 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 Advocus at its sole discretion. However, the additional premium will not exceed the amount charged by the reinsurer to Advocus. Please keep in mind that Advocus will not automatically charge reinsurance on policies over 3-million, but retains the right to do so if appropriate for the transaction. Any decision to charge reinsurance will be made after consultation with the agent.