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AAIS affiliates that use the AAISdirect
Internet service will have free online access to the residential
property valuation service provided by
e2Value, Inc.,
Stamford, Conn. The service provides systematic valuation procedures for
a wide range of residential property, including high value homes,
modular and kit homes, condos and co-ops, alterations and additions, and
more.
Access to the service will be available from April
10 through May 9, 2006 to any company that uses AAISdirect for
any AAIS line of insurance program.
This is the second joint initiative between AAIS and
e2Value. Currently, carriers affiliated for AAIS farm programs have
access to e2Value's Farm & Ranch Estimator property valuation service
through AAISdirect.
For information on affiliating with AAIS or using
AAISdirect, contact Rick Maka, director of marketing, at
rickm@AAISonline.com or by
calling 800-564-AAIS.
A recent
order from
the New Jersey Department of Banking and Insurance requires companies
writing homeowners insurance in the state to submit their underwriting
guidelines and rules to the department by April 15. The order also
requires the filing of any changes to these underwriting guidelines that
take place before September 30, 2006. Those filings must be submitted
within 10 days of the implementation of a change.
NOTE: The definition of "homeowners insurance" in
the order includes any personal lines property and liability package
policy on a 1-4 family dwelling, including a mobile home or condominium.
The definition extends to package policies created by combining
dwelling property and personal liability forms.
The order states that the review is being undertaken
in the wake of "inquiries concerning the availability of homeowners
insurance coverage in the State with regard to underground storage
tanks, ownership of certain dog breeds, coastal availability, insurance
scoring, and other matters."
AAIS is filing exclusions in Texas for losses
arising from acts of terrorism that would not qualify as "certified"
acts under the federal terrorism reinsurance program. (For discussion of
the distinction between "certified" and "non-certified" acts of
terrorism,
click here.)
During the countrywide filing of terrorism
exclusions following the 2002 federal Terrorism Risk
Insurance Act, the Texas Department of Insurance had not approved
exclusions for acts of terrorism that fell outside of federal
reinsurance coverage.
Subsequently, the Texas department approved
"conditional"
and "post-TRIP" exclusions that, in effect, have permitted
exclusions for non-certified terrorist acts in certain lines, including
Crime and Farmowners. AAIS is filing "non-certified" exclusions in other
commercial lines to determine if the department is
prepared to accept such exclusions as a general policy.
Affiliates in affected lines will be notified of
filing status by bulletin.
Companies using the AAIS
Artisans Program were sent a
survey form via bulletin last week seeking their input for purposes of
planning changes to the program. Survey responses are requested by April
18, 2006.
AAIS maintains a stand-alone program for insuring
small-scale artisan contractors. Among other things, the program
provides an option for writing liability coverage only for artisan
operations that may have no building property.
The survey seeks input regarding the Artisan
Program's eligibility rules, classifications, liability rating base,
coverage issues, coverage options, and support services.
For more information on the AAIS Artisans Program, contact
Rick Maka, director of marketing, at
rickm@AAISonline.com
or by calling 800-564-AAIS.
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