WEB SEMINARS TO PROVIDE OVERVIEW
OF "RISKMETER" MAPPING SERVICE

AAIS is sponsoring web-based seminars to demonstrate features of the "RiskMeter" online risk mapping application, developed by CDS Business Mapping, Boston, Mass.

The seminars, which are open to all AAIS affiliates, will start at 1 p.m. Central time (2 p.m. Eastern) on Aug. 10 and Aug. 17, and last about an hour. Each seminar will have the same content; registrants can select the date they prefer. To register,

RiskMeter provides online 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.

AAIS is currently providing free access to RiskMeter during a trial period to all insurers that use the AAISdirect Internet service, no matter which AAIS programs they use.

The web seminars will feature introductory remarks by Joseph Harrington, AAIS director of communications, followed by a demonstration of RiskMeter features by James Munson, director of consulting services for CDS Business Mapping.

To sign up for AAISdirect service, contact Rick Maka, director of marketing, at rickm@AAISonline.com or by calling 800-564-AAIS.

VIRGINIA REVISES RULES FOR
NOTICE OF PREMIUM INCREASE

Insurers writing commercial policies in Virginia are required to provide a notice to policyholders whenever the premium on a renewal policy is more than 25% greater than that of an expiring policy due to actions by the carrier.

Under an administrative letter from the state's Bureau of Insurance, insurers no longer have to provide notice of such an increase if it results from actions of the policyholder, such as requests for changes in coverage or limits, or changes in location, operations, or exposures.

Examples of insurer-initiated increases include increases in filed rates, changes in experience or schedule rating that results in a premium increase, plus others. Whenever a renewal premium increases by more than 25%, the insurer must determine whether its actions generated the increase. If they did, the carrier must provide a written notice specifying the reason for the increase or advising the insured that the amount of and reason for the increase can be obtained from the agent or insurer.

Anyone interested in affiliating with AAIS for use of its commercial lines programs can contact Rick Maka, director of marketing, at rickm@AAISonline.com or by calling 800-564-AAIS.

NORTH DAKOTA ADVISES AGAINST
ADDING UNSOLICITED COVERAGE

In a recent memorandum, North Dakota Commissioner of Insurance Jim Poolman states a "request" that insurers add coverage to a commercial property or liability only after receiving a clear directive from a purchaser to do so.

In the memo, Poolman acknowledges that underwriters often discover facts about a risk that require an endorsement. In such cases, he calls on carriers to "make it clear" to policyholders that additional coverage requiring additional premium be added to the policy.

FLORIDA ISSUES ORDER FOR
2% GUARANTY FUND ASSESSMENT

A recent order from Florida's Office of Insurance Regulation establishes the latest assessment on insurers for the state's guaranty fund.

The order requires all members of the Florida Insurance Guaranty Association (FIGA) to pay an amount equal to 2% of their 2005 net direct written premium in Florida. The payments were due July 21.

In a letter attached to the order, FIGA Executive Director Sandra Robinson estimates the assessment will generate approximately $225 million. That amount, along with existing reserves, would address an estimated loss of $239 for the liquidation of Southern Family Ins. Co., Atlantic Preferred Ins. Co., and Preferred Property Ins. Co. Robinson cautions that losses for those insolvencies could approach $400 million, under worst case estimates.

AGENTS CAN STILL PARTICIPATE IN NEW TRIAL
OF VALUATION SERVICE THROUGH AAISdirect

AAIS member companies that use the AAISdirect Internet service can still authorize their agents to access an online residential valuation service during a trial period.

For a limited time, AAIS is offering free access 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.

To sign up for AAISdirect service, contact Rick Maka, director of marketing, at rickm@AAISonline.com or by calling 800-564-AAIS.