AAIS Products and people you can rely on

Results for content tagged as Michigan

1.

Nov 5, 2015 - ... law in Michigan allows certain information in auto and home insurance rate filings to be designated as trade secrets to be protected from public disclosure. The law takes effect Jan. 11,...

2.

Jul 7, 2014 - [ACTION_PRINT_ARTICLE] Michigan has joined a number of states in passing legislation restricting how certificates of insurance can be used. Under a new law in Michigan, effective immediately, no one can prepare, issue, or deliver a certificate that contains false or misleading information regarding the referenced policy, or that claims to alter, amend, or extend the coverage provided under the referenced policy. Similarly, the law prohibits anyone from demanding or requiring the issuance of a...

3.

Jan 23, 2013 - ... Michigan amends an existing law requiring carriers to provide notice to auto or homeowners policyholders. Among other things, the new law eliminates a previous requirement that an...

4.

Jul 10, 2012 - [ACTION_PRINT_ARTICLE] NOTE: The format of the AAIS Advisory has changed, starting in June 2012. Notices are now posted individually as they arise, then combined in a periodic email message. Michigan recently enacted a series of related laws that regulate the use of credit information in insurance. One of the new laws specifies, among other things, that an insurer cannot use credit information or an insurance score to deny, non-renew, or cancel a policy. It also prohibits an insurer from usi...

5.

Jul 28, 2011 - The Industry LeaderInland marine has consistently been one of the most profitable lines of commercial insurance. Through prolonged soft markets, inland marine has been one line where carriers could achieve an underwriting profit. While inland marine coverage may produce a small percentage of account premium, it can provide a much larger share of margins. To achieve those benefits, however, you need resources and methods to underwrite and price this type of coverage. For decades, AAIS has...

6.

Feb 15, 2011 - For decades, most homeowners insurers have faced a stark choice when it comes to liability coverage for dog bites: Cover the dog, or reject the policy. To be sure, several homeowners carriers have proprietary dog exclusions, with varying degrees of acceptance among the states, and some states allow insurers to file manuscript endorsements excluding dog-related liability on an individual basis. But, to date, there has been no standard industry approach to excluding what is often the...

7.

Feb 1, 2010 - It's been more than 30 years since the first standardized "easy read" homeowners policies were developed, yet property/casualty policies continue to be among "the least-read best sellers," as the saying goes. Whether policies are read or not, state regulators have an abiding concern that they be written in plain, clear language understandable to the average person. Today, 20 states have statutes or regulations mandating certain levels of "readability&rdqu...

8.

Dec 29, 2009 - ... Services (AAIS). The two companies are: Great Lakes Mutual Ins. Co., Calumet, Mich. Based in Houghton County of Michigan's Upper Peninsula, Great Lakes Mutual has agents throughout Michigan offering policies based on the AAIS Homeowners and Dwelling Properties programs. As of March 2009, all of the company's agent quotes and applications in affected AAIS lines have...

9.

Dec 1, 2009 - ... to the filing. This flex-rating provision, which combines rating flexibility and consumer protection, was originally scheduled to expire on July 1, 2009. While Connecticut focused on personal lines rate flexibility, Michigan reversed a long-standing policy on the filing of homeowners and auto forms. Effective July 1, new or revised personal automobile forms were required to be filed for approval;...

10.

Mar 1, 2009 - AAIS member companies are familiar with e2Value, Inc. as an AAIS strategic business partner that provides residential, commercial, and farm property valuation applications available to users of AAISdirect. There is, then, perhaps no one better than Todd Rissel, president and CEO of e2Value to respond to questions about how the collapse of real estate values is impacting construction cost estimates used to establish building property limits. Companies have long faced the problem of mortg...