AAIS affiliates for four of its insurance line
programs can now have access to a commercial property valuation
application via the AAISdirect Internet service.
Access to the
"Commercial"
valuation service developed by e2Value, Inc. is now available to
companies affiliated for the AAIS Agricultural Output, Businessowners,
Commercial Output, and Commercial Properties programs that use
AAISdirect.
e2Value, based in Stamford, Conn., is a leading
developer of online valuation applications. Users of AAIS personal lines
programs currently have access through AAISdirect to e2Value's
"Residential" property valuation application, and AAIS farm program
affiliates that use AAISdirect can access e2Value's "Farm & Ranch
Estimator."
Companies that do not use AAISdirect can still sign up for a free trial
of the service through the end of 2006. The trial includes access to
applicable valuation services and the "Risk Meter" risk mapping
software, available to all AAISdirect users regardless of line of
affiliation.
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.
AAIS is conferring with staff from the West Virginia
Department of Insurance over the product implications of new regulations
on farm mutual insurers.
Under
legislation enacted in 2006, West Virginia farm mutuals will now be
required to renew their certificates of authority every year. In the
process of doing so, they will have to report on the amount of business
they write in "underserved areas."
Among other things, the new law imposes restrictions
on the types of liability coverage farm mutual companies can
write, even with a liability extension to their certificate of
authority. AAIS staff is seeking to clarify the nature and extent of
those restrictions as they apply to watercraft and certain motorized
vehicles, and will be advising affected affiliates by bulletin as
questions are clarified.
AAIS is withdrawing several terrorism endorsements and
notices, and modifying two others, under its Farm Umbrella Program. The
decision follows analysis of the U.S. Treasury's final rule regarding
extension and modification of the federal Terrorism Risk Insurance
Program (TRIP).
Farm multi-peril coverage was originally covered
under the federal terrorism reinsurance program when it was created in
2002, but removed from TRIP under an extension enacted in 2005. The
application of umbrella policies to underlying exposures was clarified
by the final rule issued in late August 2006.
In light of federal action, AAIS has determined that
the program's "make available" requirement no longer applies to farm
umbrella policies. Hence, several endorsements and notices related to
the program will be withdrawn over coming weeks.
Also, two endorsements are being revised to state
explicitly that federal terrorism reinsurance does not apply to
commercial auto or farm multi-peril losses, two types of losses covered
under the original TRIP but subsequently removed from the program.
Affiliates will be informed by bulletin of action
taken in individual states.
AAIS now offers audio commentary to users of the
AAISdirect Internet service
starting Friday, Dec. 1, with the first of a weekly series of "podcasts."
Initially, the podcasts will be posted on Fridays
and briefly describe the bulletins issued by AAIS for the week. In 2-3
minutes, these commentaries will provide AAISdirect users with an
overview of product-related developments for the week, and indicate
which bulletins need immediate attention.
The podcasts will be provided as mp3 files which
can run on most computers with Internet access. To run them, users of
AAISdirect can simply click on an icon on the AAISdirect home
page.
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 on the site, 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.
