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AAIS has initiated a countrywide filing of the manual
for its Commercial Liability
Program, with a proposed effective date of Jan. 1, 2007.
The revised manual consists of new and revised
rules, classifications, and rating information. Among the new features
of the countrywide rules are a minimum premium rating procedure,
deductible discount factors, and additional optional limits for higher
each occurrence-annual aggregate combinations.
With this filing, the countrywide Commercial
Liability manual introduced in 1999 will become the standard manual for
the program. That manual features countrywide rules with state exception
pages and other information consolidated on a countrywide basis. It
utilizes inflation-sensitive rating bases, such as gross sales.
The previous state-specific manuals, which use fixed
rating bases, such as area, for most premises classifications will
remain available to current users as the "traditional" manuals. In most
states, rate level changes for the traditional manuals became effective
in 2006, but no future updates are planned. As of Jan. 1, 2007, the
traditional manuals will be available to new users only on an advisory
basis.
Filings are underway to update the rating information
provided in the AAIS Farmowners
Program for principal farm dwellings, with proposed effective dates
of Nov. 1, 2006 or Dec. 1, 2006, depending on the state.
The Farmowners rating information for dwellings is
being revised to coincide with rate level changes recently approved for
the AAIS Homeowners and Mobile-Homeowners programs. The changes will vary by
state and can include revisions to loss cost base amounts, plus
revisions to relativities for protection class, construction, territory,
and/or policy size.
For information on affiliating with AAIS for the use
of any of its insurance line programs, contact Rick Maka, director of
marketing, at rickm@AAISonline.com,
or by calling 800/564-AAIS.
John Oxendine, Georgia insurance and safety fire
commissioner, recently issued two
emergency rules affecting the amount of time property/casualty
insureds have to file suit for recovery against an insurer.
One rule changes the statutory Standard Fire Policy
to require insurers to give policyholders at least four years after a
loss to file such a suit. The other rule extends this requirement to all
P/C policies.
The action effectively requires property insurers to
adopt a 4-year "suit against us" provision, as such provisions are
called in AAIS policy forms; the rule takes effect for policies written
or renewed on or after March 1, 2006. While the emergency rule expires
within 120 days, Commissioner Oxendine indicated in his notice of
rulemaking that a final rule will be promulgated during that period.
AAIS will take filing action after a final rule is
issued.
The
2006
AAIS Annual Conference has drawn higher-than-usual attendance, and
anyone still seeking to register should do so immediately.
The room block deadline for the conference hotel has
been extended to a final date of Friday, March 10. The event itself will
be held April 9-11 at The Ritz-Carlton in Sarasota,
Florida. To
register,
This conference program is designed to provide information
and guidance to property/casualty executives faced with a growing number
of critical decisions. Other presenters include :
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Professor J. Edward Russo of Cornell University,
who
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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Matthew Josefowicz, manager of the global
insurance group for the research and consulting firm Celent;
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James Lee Witt, former director of the Federal
Emergency Management Agency (FEMA), now a co-chairman of "ProtectingAmerica.org;"
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Ernst Csiszar, president of the Property Casualty
Insurers Association of America; and
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John Lucker, principal, and Jim Marino, director,
Deloitte Consulting.
In addition, there will be a panel of company
executives that includes:
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Greg Ostergren, chairman, president and CEO of
American National Property and Casualty Company, Springfield, Mo.;
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Kenneth Stover, executive vice president,
Western National Mutual Ins. Co., Minneapolis, Minn.; and
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James Sullivan, president and CEO of
Co-Operative Insurance Companies, Middlebury, Vt., who will moderate
the panel.
For more information, contact Joe Harrington, director
of corporate communications, at
joeh@AAISonline.com
or by calling 800-564-AAIS.
The AAIS Homeowners and Commercial Liability programs
will be addressed at a
Claims Summit
sponsored by the Pennsylvania Association of Mutual Insurance Companies
(PAMIC), April 4-5 in Harrisburg, Pa.
Information on the AAIS programs will be provided by
Fred Macy, an independent trainer and the founder of Gray Wolf Insurance
Seminars, LaVale, Md., which conducts training on AAIS and other
programs.
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