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WHEATON, Ill., June 1, 2005—Insurers that write
motor truck cargo liability insurance have access to new rating rules
and worksheets provided through the Inland Marine Guide,
published by the American Association of Insurance Services (AAIS).
AAIS is a national insurance advisory organization
that develops standardized policy forms and rating information used by
more than 600 property/casualty companies throughout the U.S.
The Inland Marine Guide provides forms,
rating procedures, underwriting guidelines, and other information for
the traditionally nonfiled classes of inland marine insurance,
including motor truck cargo. Policy forms provided in the Guide
are filed in states that do not exempt inland marine insurance from
filing requirements.
The revised rating rules address new coverages,
risk modifications, and risk characteristics in the latest revision to
the Guide's Motor Truck Cargo section.
Rating steps have been added for new coverages for
mobile equipment, moving equipment, electronic equipment, personal
property, and trailers. Risk modification steps have been added for
long haul operations, contingent coverage, and exposures at terminals.
In addition, the revised rating rules include a
deductible modification step and the expansion of the types of risk
characteristics that are used to document the selection of loads or
modifications.
Companies using the Guide have been issued
a series of rating worksheets that take underwriters step-by-step
through the process of rating cargo coverage on a per vehicle or gross
receipts basis, and of rating coverage for equipment, trailers, and
other property.
For information on the AAIS Inland Marine Guide,
contact Rick Maka, director of marketing, at rickm@AAISonline.com
or by calling 800/564-AAIS.
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