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.
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 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:
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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;
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Rules and loss cost rating information for the
new Farm Irrigation Equipment class; and
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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.
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.
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:
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Dr. Robert Blaunstein, manager of loss
control under contract for American Safety Ins. Co.;
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David Herman, senior counsel and senior
director of claims for the Food Products Association;
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Charles Kingdollar, vice president in the
emerging issues unit of Gen Re; and
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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.
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.