September 7, 2005

REGULATORS CALL FOR GRACE PERIODS
IN THE WAKE OF HURRICANE KATRINA

Mississippi Insurance Commissioner George Dale has issued a directive calling on carriers writing business in that state to grant a 60-day grace period for premium payments from residents affected by Hurricane Katrina.

In Alabama, Insurance Commissioner Walter Bell publicly noted that several insurers in that state had granted grace periods to their policyholders affected by the disaster, and he urged other companies to do the same. As of this posting, however, Bell had not mandated a grace period.

As this is posted, the Louisiana department of insurance is holding a meeting with insurers in Atlanta, Ga. to present department policies on advanced payments, cancellations, non-renewals and other matters raised by the hurricane. For the latest information from the Louisiana department, go to its special Hurricane Katrina Web page.

STATE SERFF REQUIREMENTS COMPILED FOR 
2005 STATE FILINGS GUIDE UPDATE

AAIS has compiled a table of requirements for each state regarding filings made using the System for Electronic Rate and Form Filings (SERFF). The table indicates which states currently accept SERFF filings, and whether they require cover letters, component headings, side-by-side forms comparisons, or other materials.

The SERFF table, made available to all companies through the link above, is a sample of the type of information AAIS affiliates receive in the State Filings Guide, a comprehensive resource combining the latest information on filing requirements for forms, rules, and rating information in all jurisdictions.

The 2005 update of the Guide is scheduled  to be issued with AAIS's Sept. 16 program bulletins. This year's annual update adds new information on filing guidelines for applications and binder certificates, plus the state-specific SERFF requirements.

Companies not affiliated with AAIS can purchase the State Filings Guide for $200 a copy. To order a copy, contact Rick Maka, director of marketing, at rickm@AAISonline.com, or by calling 800/5654-AAIS.

ELIZABETH LUPETINI JOINS AAIS

Elizabeth Lupetini has joined AAIS as assistant vice president assigned to special projects.

Lupetini has 18 years' experience in the insurance industry, and has worked extensively in compliance and commercial liability in recent years. An economics graduate of Northwestern University, Lupetini also holds several professional designations, including that of Chartered Property Casualty Underwriter.

Before coming to AAIS, Lupetini served as assistant vice president of underwriting services for General Star Management Company. Previously, she worked for Zurich North American, American Horizon Services, Interstate National Corporation, and the Midwest regional office of the Insurance Services Office.

INSURANCE ORGANIZATIONS
SEEK DONATIONS FOR KATRINA VICTIMS

Property/casualty insurance organizations are seeking donations to charities to provide relief to the victims of Hurricane Katrina.

The National Association of Mutual Insurance Companies has organized a fund called "Mutual Insurers Respond" while the Independent Insurance Agents and Brokers of America are sponsoring a "Big I Katrina Relief Fund."

The Property Casualty Insurers Association of America is encouraging donations to an alliance of volunteer organizations called the National Voluntary Organizations Active in Disaster. 

NEW JERSEY RE-ESTABLISHES CAP
ON GUARANTY FUND SURCHARGES 

The New Jersey Department of Banking and Insurance has issued an order authorizing insurers who have paid their guaranty fund assessments to recoup the costs from policyholders.

Under the order, carriers who have paid their assessments can levy a surcharge on policyholders up to 1.75% of annual net direct written premium. The 1.75% cap applies to the combination of all recoupment surcharges arising from both the latest and earlier guaranty fund assessments.

AAIS REPRESENTATIVES TO BE AT
UPCOMING INDUSTRY MEETINGS

AAIS staff members will be at present at these upcoming insurance meetings:

• Wisconsin Association of Mutual Insurance Companies, Sept. 11-13, Appleton, Wis.

• Association of Insurance Compliance Professionals (AICP), Sept. 18-20, Dallas, Tex.

• National Association of Mutual Insurance Companies, Oct. 2-5, Phoenix, Ariz. (Booth 111)

• CPCU Society Annual Meeting and Conferment, Oct. 22-24, Atlanta, Ga. (Booth 310)

• Agribusiness Conference, Oct. 24-25, Des Moines, Iowa

To arrange contact with AAIS staff at any of these events, contact Rick Maka, director of marketing, at rickm@AAISonline.com or by calling 800/564-AAIS.