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AAIS will hold a Web-based seminar on Friday, Dec. 16,
to review the status of the federal terrorism reinsurance program and AAIS plans for addressing different scenarios that may arise from
federal action.
The Web seminar will begin at 10:30 a.m. Central time
(11:30 Eastern) and last 30-45 minutes. Attendance is restricted to
companies affiliated with AAIS for lines of insurance directly affected by
the Terrorism Risk Insurance Program (TRIP). The principal speakers will be:
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Deborah Summerlin, AAIS vice president for
insurance lines, who will discuss potential changes to endorsements;
and
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Kim Ward, AAIS chief actuary, who will address
potential changes to rating information.
To register, 
As of this Advisory, TRIP is scheduled to expire on Dec. 31. AAIS has
developed endorsements and notices for use by its affected affiliates in
the event the program does expire.
To date, the U.S. House and Senate have passed bills to extend
TRIP with some modifications. As this Advisory was being prepared
for transmission, press reports stated that progress toward compromise
reported the day before had stalled, but Republican leaders expressed a
determination to pass a bill this week.
AAIS will distribute a form for complying with a
Florida law mandating premium discounts for residential properties that
have features designed to mitigate hurricane damage.
The Florida Office of Insurance Regulation (OIR) has
prescribed the form, as required by statute, to notify personal lines
residential policyholders of discounts available for building features
designed to mitigate windstorm damage. An informational memorandum and a
sample of the form are available
on the OIR website.
AAIS Homeowners and Dwelling Properties affiliates
that write business in Florida will receive a bulletin Friday, Dec. 16
with a partially completed copy of the form that lists AAIS premium discount percentages for features such
as roof shape, roof covering, protection of openings, and other factors.
Companies will have to add information of their own and file their form
with the OIR no later than Jan.
31, 2006.
While the discounts have been in effect for a few
years, use of the form was recently mandated as a
means to communicate to policyholders steps they could take to mitigate windstorm
damage to their homes.
"Executive Leadership: Decision-Making in a
Dynamic Environment" is the theme of the 2006 AAIS Annual
Conference,
April 9-11 at The Ritz-Carlton in Sarasota, Florida.
This conference is designed to provide information and
guidance to property/casualty executives faced with a growing demand to
make more decisions, more quickly, and with more uncertainty and
complexity. Our speakers include the following:
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Professor J. Edward Russo of Cornell University
will lead a half-day session on effective decision-making. Each
registrant will receive a complimentary copy of his book Winning
Decisions: Getting It Right The First Time.
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Ernst Csiszar, president of the Property Casualty
Insurers Association of America (PCI), will address a range of public
decisions facing the industry.
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Matthew Josefowicz, manager of the global
insurance group for the research and consulting firm Celent, will
speak on the future of insurance technology.
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John Lucker, principal, and Jim Marino, director,
Deloitte Consulting, will speak on the growing use of predictive
analytics (e.g., scoring) for underwriting small commercial accounts.
Also, a panel of company executives is being formed to
share insights on decisions they have made to position their companies for
success. Other speakers may be invited as the event approaches.
Social events at the conference include a golf outing
at the Legacy Golf Club in Bradenton, a spouse/guest tour of the Ringling
estate, and a closing reception and dinner at The Ritz-Carlton Members
Beach Club.
For more information, contact Joe Harrington, director
of corporate communications, at joeh@AAISonline.com
or by calling 800-564-AAIS.
Insurers that write property coverage in Louisiana
will be required to provide new notices specifying which coverages are
provided in a policy.
Under new laws recently signed by Gov. Kathleen
Blanco, the commissioner of insurance is directed to develop the disclosure
forms. AAIS will notify affiliates of the availability of the forms once they are
developed.
One
law states that no "fire" policy can be issued without the
new disclosure; the
other essentially repeats that directive, but adds that no payment of
a homeowners claim shall be considered a final settlement if the insurer
fails to provide a statement that accurately reflects the amount paid
under each category of coverage under the policy.
The staff of AAIS offers our best wishes to our
customers and friends for a happy holiday season and a safe and prosperous
new year.
Special thoughts and prayers go out to American
servicemen and women serving around the world. May they come home soon and
safe.
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