February 7, 2007


Main Event 2007
April 22-24, 2007
Charleston, S.C.

Link here for AAIS Advisory 
from previous weeks: http://www.aaisonline.com/
services/pastpa.html
 

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To unsubscribe or change your e-mail subscription, contact Pat Peters at patp@AAISonline.com or 800/564-AAIS x289.Contact AAIS Advisory at info@AAISonline.com.


  

NEW CAUSE OF LOSS REPORTS
TO BE POSTED ON AAISdirect

Two new cause of loss reports will be posted on AAISdirect next week.

AAIS Homeowners affiliates will have access to new tables that provide causes of both property and liability loss for calendar years 2003-05. Information will be available on a countrywide and state-by-state basis.

For property coverage, the tables will list the percentage of losses caused by fire, lightning, wind, hail, water damage, freezing, theft, and "other" causes. For liability coverage, the tables will list causes of loss by bodily injury, property damage, medical payments, and "other" causes.

In addition, AAIS inland marine affiliates for both filed and nonfiled classes will have access to the latest update of the AAIS Inland Marine Cause of Loss Report, which provides data on five years of premium and losses for more than 50 classes of inland marine insurance.

Additional data reports for other lines are planned for introduction over the next few months.


REVISED FORMS AND ENDORSEMENTS
ISSUED FOR INLAND MARINE GUIDE

AAIS has released revised forms, endorsements, and schedules for the Contractors' Equipment and Motor Truck Cargo sections of the Inland Marine Guide.

The revised Motor Truck Cargo forms clarify the coverage provided under the supplemental coverages for Freight Charges and Contract Penalty. They also provide updated references to flood and earth movement, and clarify certain references to loss settlement and defense costs coverage.

In the Contractors' Equipment section, the valuation provisions in the Agreed Amount Endorsement are clarified. Also, a small tools floater schedule is revised to show separate limits for "Your Tools," "Employee Tools," and "Leased/Rented Tools."

Revised forms, endorsements, and schedules will be filed with a proposed effective date of July 1, 2007 in states that do not exempt inland marine classes from filing requirements.


AAIS FILES FORMS AND MANUAL FOR NEW
FARM INLAND MARINE PROGRAM

AAIS has initiated a countrywide filing of the forms and manual for the new Farm Inland Marine Program, announced in an earlier Advisory.

The new forms introduced for Farm Irrigation Equipment, and the revised forms for Farm Machinery and Livestock, contain updated policy language patterned primarily after provisions used in commercial lines. The forms are structured in a new format that utilizes more titles and paragraph breaks to identify clearly all conditions, limitations, and exclusions.

Details on refinements to the coverages in the forms were provided in a countrywide bulletin issued Feb. 2.

The new manual includes, among other things:

  • Rules and loss cost rating information for the Farm Machinery and Livestock classes, previously provided in the Personal Inland Marine Program, but with the addition of a new extra expense factor;

  • Rules and loss cost rating information for the new Farm Irrigation Equipment class; and

  • A countrywide individual risk premium modification ("IRPM") plan.

For information on affiliating with AAIS for use of its inland marine programs, contact Rick Maka, director of marketing, at rickm@AAISonline.com, or by calling 800/564-AAIS.


AAIScompliance SERVICE CAN HELP 
MEET GEORGIA SERFF REQUIREMENTS

As of Jan. 1, 2007, insurers are required to use the System for Electronic Rate & Form Filing (SERFF) for all filings submitted in the state of Georgia.

AAIS is an authorized third-party SERFF filer and can submit your Georgia filings for any property/casualty program, whether based on AAIS programs or other forms and manuals.

For information on SERFF filings and other services offered through the AAIScompliance program, contact compliance@AAISonline.com.


FEB. 28 IS DISCOUNT DEADLINE
FOR AAIS 'MAIN EVENT'

Companies that register by Feb. 28 will receive a discount on their registration fee for the AAIS Main Event, April 22-24 at the Mills House Hotel in Charleston, S.C. The Main Event is an executive-level conference devoted to product-related issues of strategic importance to CEOs and heads of operational units. To register,

Tommy Thompson, former U.S. cabinet secretary and governor of Wisconsin, will deliver the keynote address. Other speakers include:

  • Dr. Robert Blaunstein, manager of loss control under contract for American Safety Ins. Co.;

  • David Herman, senior counsel and senior director of claims for the Food Products Association;

  • Charles Kingdollar, vice president in the emerging issues unit of Gen Re; and

  • Sam Miller, executive vice president of the Florida Insurance Council.

In addition, the conference program will feature a panel of CEOs discussing public issues related to P/C products, and roundtable discussions on personal lines, commercial lines, and executive concerns.


AAIS SPEAKERS TO ADDRESS
NAMIC UNDERWRITING SEMINARS

Two AAIS vice presidents have been selected to lead sessions at underwriting seminars sponsored by the National Association of Mutual Insurance Companies (NAMIC).

Robert Guevara, AAIS vice president of inland marine, will address two breakout sessions at the NAMIC Commercial Lines Underwriting Seminar, Feb. 28 to March 2 in Chicago. On Thursday, March 1, Guevara will speak on "Demystifying Commercial Output Coverage." The following morning, March 2, he will lead a presentation entitled "Understanding Current Inland Marine Coverage Issues for Construction Risks."

Susan Luecke, assistant vice president for personal lines, will lead two sessions on homeowners insurance issues at the NAMIC Personal Lines Marketing & Underwriting Seminar, April 18-20 in Savannah, Ga. On Thursday morning, April 19, Luecke will discuss property coverage issues and the AAIS response to them in the 2007 revision of the AAIS Homeowners forms. A companion program on liability issues and the AAIS response will follow later in the morning.


Transmitted by the American Association of Insurance Services, 1745 S. Naperville Road, Wheaton, IL 60187.
 


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