AAIS affiliates can sign up now for a web-based demonstration of the
AAISdirect
service at 1 p.m. Central time on Thursday, Nov. 30.
The event will include a demonstration of Commercial
and Residential property valuation applications developed by e2Value,
Inc. To register for the demonstration, 
Rick Maka, AAIS director
of marketing, will
lead off the event by demonstrating how AAISdirect users can quickly locate forms,
manuals, bulletins, and other AAIS resources through the service.
Debbie Wagner, e2Value's vice president of sales, will then demonstrate
how the "Residential" and "Commercial"
valuation applications can help company staff quickly and
systematically establish building property values and determine
appropriate levels of insurance-to-value.
Companies that do not use AAISdirect can still sign up for a free trial
of the service, including access to certain valuation applications and the "Risk
Meter" risk mapping software, through the end of
2006.
To start your trial immediately, print and sign the
trial
agreement and fax it to 630-681-8356. If you have questions, contact Rick Maka, director of
marketing, at rickm@AAISonline.com
or by calling 800/564-AAIS.
A web seminar describing the AAIS Agricultural
Output Program (AgOP) is scheduled for 1 p.m. Central time on Tuesday,
Dec. 5. The seminar is open to staff in companies considering an
affiliation with AAIS for use of the
AgOP. The presentation will also be useful to staff of AgOP affiliates who may not be
personally familiar with the program. To register,
Joseph Harrington, AAIS director of corporate
communications, will describe the features and benefits of the AgOP, the
first standardized program developed to provide property coverage for
large, diversified agribusinesses.
Deborah Summerlin, AAIS vice president of insurance
lines and the principal developer of the AgOP, will be on hand to
provide additional comments and respond to questions.
The AgOP provides broad property and inland marine
coverage through a single policy form, and utilizes a flexible rating
procedure that allows carriers to rate a property risk as a single
exposure rather than as the sum of disparate exposures. The program is
currently used by one of the nation's largest farm insurers and several
agricultural specialty writers.
AAIS has started to issue its Loss Estimate Supplement for the AAIS
Commercial
Liability manual. Previously referred to as the "Guide (a)" manual,
the supplement is being issued for individual states over a series of weeks.
The supplement includes estimated loss information
and corresponding rules for risk classifications that are included in
the countrywide Commercial Liability manual but not in the state rating
pages.
Certain classifications may not have standard rating
information if the risks within the class display a large variance in
their characteristics or their probability of loss. Also, there may not
be rating information for classifications that are so hazardous that no
loss cost could be developed, or those for which credible
statistics are not available due to a low number of risks.
A number of states permit AAIS to
distribute the Loss Estimates Supplement without taking filing action.
In those states, however, companies must be prepared to document how a
premium was developed and make the documentation available to state
insurance departments upon request. AAIS bulletins provide detailed
information regarding company action associated with the Loss Estimates
Supplement.
The Virginia Bureau of Insurance has issued an
administrative letter clarifying filing requirements for schedule
rating plans, expense modification plans, and experience rating plans.
Among several provisions in the letter, one provision states that
expense modification plans can now allow up to 100% of the cost of
facultative reinsurance to be passed through to a policyholder.
In response to this and other provisions, AAIS is reviewing all of its
individual risk premium modification plans filed in Virginia and will
make changes as needed to comply with the latest regulations.
AAIS invites property/casualty professionals to
submit their observations and concerns regarding emerging exposures
through our new
AAISalert web page.
The AAISalert online submission form asks users to describe
new exposures they are concerned about, indicate how they address the
exposure or plan to address it, and how it is likely to affect AAIS
programs. One need not be a
member of AAIS to participate.
Ideas generated through AAISalert may be
incorporated into AAIS's program revisions, and may also become topics
for the AAIS Main
Event, an executive-level conference devoted to product-related
issues of strategic importance to property/casualty insurance companies.
The 2007 Main Event is scheduled for April 22-24 in Charleston, S.C.
For more information, contact Joseph Harrington,
AAIS director of corporate communications, at joeh@AAISonline.com.
AAIS has decided on the venue for the closing
reception and dinner for the "AAIS Main Event," an updated successor to
AAIS's annual conference, scheduled for April 22-24, 2007 in Charleston,
S.C.
The closing event will be held at
The Old Exchange & Provost Dungeon,
a beautifully restored 18th century structure which served as a post
office, customs house, and prison over the years. Stede Bonnet, "The
Gentleman Pirate," was imprisoned in the building's cellar, as well as
several prominent South Carolina Patriots during the American
Revolution.
The full name of the enhanced meeting--"The AAIS
Main Event:
Where insurance
leaders come together to explore product issues, discuss solutions,
exchange ideas"--signifies the importance of this
event
as a venue for AAIS customers and other insurance professionals to network with each other and share
ideas. The historic Mills House
Hotel will serve as the principal conference location.
Among other things, the program content and format
will be designed to strengthen the connection between AAIS and its
member companies, prospective new members, and business partners. The
program will focus on product-related issues of strategic
importance to company CEOs and heads of operational units. AAIS also
plans to vary the format with concurrent sessions and small group
discussions to provide more opportunity for exchanging ideas.
For more information, contact Joseph Harrington,
director of corporate communications at
joeh@AAISonline.com or by
calling 800-564-AAIS.
