Starting next week, AAIS will be
offering free access for a limited time to the
"Residential" valuation program
developed by e2Value, Inc., Stamford, Conn. This offer is extended to
every AAIS-affiliated company that uses AAISdirect, whatever AAIS
program a company uses.
In addition to their own personnel, AAIS affiliates
have the option during this trial period of giving their agents access
for the e2Value residential valuation program. Instructions and access
codes for agent use will be transmitted to AAISdirect users next
week. (Agent use of company codes is not permitted, and may block company users from accessing the
service.)
The e2Value residential valuation 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.
Starting soon, companies that use AAISdirect
will have free access for a limited time to online risk mapping applications
provided at "RiskMeter.com," a service of CDS Business Mapping, Boston,
Mass.
RiskMeter provides instantaneous access to more than
30 categories of geographic information related to hazards at a
location. The information provided specifies a location's distance from
coastlines, fault lines, and flood zones, as well as its exposure to
hail, tornadoes, wildfires, crime, and other hazards.
Of particular importance to companies that use AAIS
programs is RiskMeter's information on the distance from an insured
location to the nearest fire station. That distance is a determining
factor in the application of AAIS's simplified fire protection
definitions ("protected," "partially protected," and "unprotected").
Having the distance available automatically through RiskMeter saves time
and improves accuracy in the use of the simplified definitions.
Companies that use AAISdirect should watch
the service's home page for the appearance of a banner link announcing
access to RiskMeter.
AAIS is filing revised rules, rating procedures, rating territories, and
loss cost rating information for earthquake coverage options in
commercial lines in eight states with seismic exposures (Arkansas, Idaho, Illinois, Indiana,
Ohio, Oregon, Tennessee, and Washington). The proposed effective date
for most filings is Jan. 1, 2007.
Earlier in May, AAIS reported approval of the first of its latest
commercial lines earthquake filings, in Kentucky, effective Oct. 1,
2006. Work continues on earthquake rating in other states.
Earthquake rating revisions were introduced in personal and farm lines earlier in
the year, and described in a previous
Advisory.
As in personal lines, the revised rating information was developed with
the use of catastrophe modeling techniques to estimate losses due to
earth shaking and fire following an earthquake. The revised earthquake
rating information consists of loss costs for rating zones defined on
the basis of ZIP Code.
A rule regarding earthquake premium modifications has been amended to
include two new criteria for modifications:
-
A building height modification for adjusting
premium for structures that exceed three stories; and
-
A year of construction modification for
adjusting premium for buildings constructed or first occupied before
the year 2000.
Also, minimum percentage deductibles for earthquake coverage
are increased for most construction classifications.
For information on affiliating with AAIS for use of any of its
commercial lines programs, contact Rick Maka, director of marketing, at
rickm@AAISonline.com or by
calling 800-564-AAIS.
