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Results for content tagged as Homeowners insurance

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Sep 29, 2015 - Rick Maka, AAIS director of marketing and strategic alliances, will speak on "The AAIS Homeowners Program and By-Peril Rating" at the 2016 Annual Convention of the Mutual Insurance Company Association of Indiana, Dec. 10-11 in Indianapolis. Rick came to AAIS in June 2004 after 12 years at Aon, where he rose to become senior vice president of the financial and professional risk solutions division. Prior to that, he worked as an independent agent in the Chicago area, specializing in coverage for...

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Jun 8, 2015 - Oct. 21 UPDATE: As of this update, the updated AAIS by-peril loss costs have been filed and approved in all but two states. Updated loss costs are now being filed in most states for the AAIS Homeowners By-Peril Rating Plan (HOBP). To date, approvals have been received from five jurisdictions, and the loss costs are available for use in two more states where approval is not required. Additional approvals are pending. Introduced in 2010, the HOBP was the first bureau plan available to insurer...

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Mar 23, 2015 - Insurers writing residential property insurance in Mississippi have until Oct. 1, 2015 to report direct earned premium, incurred losses, policy limits, reinsurance, allocated loss adjustment expenses, and the number of policies in force under affected lines for calendar years 2005 through 2014. Under the state's new "Property Insurance Clarity Act," the data is to be reported for three categories of policies: Those that include windstorm coverage along with other covered perils...

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Sep 23, 2014 - [ACTION_PRINT_ARTICLE] John Kadous, AAIS vice president of personal lines, was recently interviewed by commentator Jacob Goldstein for a segment of National Public Radio's "Planet Money" program. In the 17-minute segment, John comments briefly toward the end about legalized marijuana being one of the emerging trends monitored by insurers. He was selected to be interviewed as someone working for an organization that develops homeowners policy language. John came to AAIS in March 2014 after...

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Jul 11, 2014 - [ACTION_PRINT_ARTICLE] A recent law in Missouri modifies the notice requirement for cancellation of a homeowners policy for non-payment of premium. Previously, no notice of cancellation was effective unless mailed or delivered to a named insured at least 30 days before the effective date of the cancellation. Under the new law, insurers can cancel a homeowners policy in 10 days for non-payment of premium, provided the following notice, or a substantially similar notice, is provided in bold-fac...

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Jun 18, 2014 - [ACTION_PRINT_ARTICLE] A new law in Florida  directs homeowners insurers to provide a copy of the state's "Homeowner Claims Bill of Rights" to a policyholder within 14 days of the first notice regarding a potential claim, unless the claim arises from a disaster declared by the governor. The entire text of the bill of rights is included in the law, and notices for complying with the act are not required to be filed, so AAIS will not be drafting any advisory notices for meeting these requi...

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Jun 13, 2014 - [ACTION_PRINT_ARTICLE] A new law in Connecticut addresses several matters of interest to property insurers. Effective immediately, the law allows insurers licensed to provide homeowners and commercial property coverage to offer flood insurance for 1-4 unit owner-occupied residences on a "less than statewide basis." The following provisions in the bill take effect on Oct. 1, 2014: Homeowners insurers cannot refuse to issue or renew a policy solely because the homeowner failed...