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Commercial Monolines

Commercial Inland Marine

The AAIS Commercial Inland Marine Program provides insurers with a comprehensive set of filed commercial inland marine forms and rating procedures that are consistent with those found in the Inland Marine Guide, AAIS's industry-leading program for the nonfiled classes.

As with AAIS forms for the nonfiled classes, AAIS forms for the filed commercial classes have common inland marine conditions built in, eliminating the need for bridge endorsements.

The forms can be packaged with other AAIS and non-AAIS forms, or written as stand-alone policies.

The filed program features these standard filed classes:

  • Accounts Receivable
  • Camera and Musical Instrument Dealers
  • Floor Plan Merchandise
  • Jewelry Dealers
  • Mobile Equipment Dealers (formerly Implement Dealers)
  • Musical Instruments
  • Negative Film
  • Photographic Equipment
  • Physicians and Dentists Equipment
  • Signs
  • Theatrical Property
  • Valuable Papers and Records

AAIS Commercial Monolines provide forms, rules, and rating information that are consistent with industry standards, and regularly updated to address changes in state regulation and emerging exposures such as virus and bacteria, known injury, pollution, silica, and more.

AAIS's booklet-style forms can be written as monoline policies or packaged with other industry forms

Commercial Liability

The Commercial Liability Program features five basic forms: commercial liability, broad form commercial liability, owners and contractors protective, premises only, and farm premises and operations.

Endorsements are available to limit or exclude coverage for claims arising from construction defects, mold, synthetic stucco, known injury ("Montrose"), and other exposures.

The classifications listing in the program's multistate manual includes entries describing more than 1,000 classes, many of which are rated on an inflation-sensitive basis, such as "sales" or "payroll."

State-specific rating information is provided for the premises/operations and products/completed work exposures associated with most classes. A supplement to the multistate manual provides loss estimates to help insurers develop rates for those classes that are not frequently used.

The AAIS Commercial Liability Program also includes an experience rating plan that provides a process for modifying a policy's premium to reflect how the risk's loss experience over the previous three or five years compares with a benchmark for its industry.

Eligibility under the experience rating plan extends to risks that have three or five years of premium and loss data, and that pay at least $1,000 in annual premium. Manual rules and step-by-step instructions are provided for calculating the experience modification factor, and applying it to the premium for both the premises/operations and products/completed work exposures.

Commercial Properties

The Commercial Properties Program provides standard industry coverages in a simplified policy structure. Class rating is offered for a wide variety of risks, along with detailed manual rules with explicit rating instructions. Manual lists of statistical codes are provided for risks that are specifically rated.

The rating information for the program incorporates modeled catastrophe loss data derived from software developed by EQECAT, one of the world's leading catastrophe modeling firms.

For this and other AAIS property programs, AAIS has developed a simplified fire protection classification system that allows insurers to place a risk in one of three fire protection classifications:

  • A "protected" classification with five separate tiers (Protected 1, Protected 2, and so on) that correspond to the distance of a risk from a responding fire department (but all still within five miles);
  • A "partially protected" classification, which refers to buildings located more than 1,000 feet from a fire hydrant but within five road miles of a responding fire department; and
  • An "unprotected" classification, which refers to buildings that are not classified as protected or partially protected.

Commercial Crime

The Commercial Crime Program includes a number of coverage parts that can either be added to a commercial package policy or used to issue a stand-alone crime policy:

  • A single form providing combined coverage for money/securities, burglary/robbery, and employee dishonesty;
  • Separate forms for providing coverage for money/securities, burglary/robbery, limited burglary/robbery and employee dishonesty; and
  • Additional forms for covering computer fraud, premises' liability for guests' property, theft loss to churches, and loss arising from counterfeit money, money orders, or travelers checks.

The loss costs provided in the Commercial Crime manual reflect indications based on AAIS statistical data and, for certain coverages, crime experience data collected and published by the Federal Bureau of Investigation.

The Glass Program provides a simplified rating plan based on square feet. An experience rating plan is available.

The Combination Policy Program (a manual only) provides concise rules and premium modification factors for packaging monoline coverage parts with other AAIS or non-AAIS forms. This program provides package modifiers that apply to both property and liability coverages, and includes individual risk premium modification (IRPM) factors.

Insurance companies seeking more information on AAIS products and services can contact Raul Socha, Director of Business Development, by completing our contact form or by calling 800.564.AAIS x3238.

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