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AAIS's next Web-based training seminar, scheduled for
1 p.m. Central time on May 25, will address aspects of rating and loss
control in Motor Truck Cargo (MTC) insurance.
Robert Guevara, AAIS vice president of inland marine,
will open the presentation with a review of changes to the rating
procedure provided in the MTC section of the AAIS Inland
Marine Guide.
The Guide is a leading industry resource for
forms, rating procedures, underwriting guidelines, and other information
for the traditionally nonfiled classes of inland marine insurance; Guevara
is its principal developer.
Guevara will be joined by Bruce Dalrymple, president
and CEO of Marine Solutions
Group, LLD, who will describe the use of telephone surveys for loss
control in Motor Truck Cargo.
To register,
AAIS is beginning rate-related filing action for three
of its monoline programs.
Revised loss costs are being filed for the Commercial
Liability manual that includes traditional fixed rating
bases, such as square footage. (AAIS also maintains an Alternate
Commercial Liability manual with inflation-sensitive rating bases,
including gross sales and receipts. Revised loss cost filings for the
Alternate Commercial Liability manual will begin in the near future.)
The revised loss costs currently being filed reflect
updated information
on trend, loss adjustment expenses, and loss development for three sublines: premises, premises and operations, and
products/completed work.
AAIS has also begun a countrywide review of actuarial
indications in its Dwelling Properties and
Farm Properties programs, and
revised loss costs will be filed where warranted. The revised information
will be provided in state-specific manuals; a countrywide manual with
state manual pages will be introduced in a future update.
As of Jan. 1, 2006, a property/casualty policy form
filed in Montana will be considered, or "deemed," to be approved
if the insurance department has not acted on the filing within 60
days.
A company wishing to implement a form after the 60-day
waiting period must notify the department at least 10 days before
marketing the form. The notification must
come in a letter separate from the filing and be delivered to the department
by hand or certified mail with return receipt requested. The filings themselves can still be made
electronically.
The new provisions were enacted in a law recently
signed by Gov. Brian Schweitzer.
Alma Gordon-Smith has been promoted to AAIS director
of inland marine, where she will continue to report to Robert Guevara,
AAIS vice president of inland marine. Alma came to AAIS in January 2000,
and has assumed primary responsibility for maintaining the AAIS Commercial
Output Program, as well as overseeing administrative aspects of the Inland
Marine Guide. Before coming to AAIS, Alma had 20 years'
experience with CNA, Merchants Insurance Group, Chubb, Lexington, and
Aetna Casualty and Surety.
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