The Mills House
Hotel in Charleston, S.C., has been selected as the site for the "AAIS Main Event," an updated successor to
AAIS's annual conference, scheduled for April 22-24, 2007.
The full name of the enhanced meeting--"The AAIS
Main Event:
Where insurance
leaders come together to explore product issues, discuss solutions,
exchange ideas"--signifies the importance of this
event
as a venue for AAIS customers and other insurance professionals to network with each other and share
ideas.
Among other things, the program content and format
will be designed to strengthen the connection between AAIS and its
member companies, prospective new members, and business partners. The
program will focus on product-related issues of strategic
importance to company CEOs and heads of operational units. AAIS also
plans to vary the format with concurrent sessions and small group
discussions to provide more opportunity for exchanging ideas.
For more information, contact Joseph Harrington,
director of corporate communications at
joeh@AAISonline.com or by
calling 800-564-AAIS.
Two new Contractors Equipment endorsements with
corresponding revisions in rating rules are scheduled
to be distributed Friday, Sept. 1 to companies that use the AAIS
Inland Marine Guide. The Guide is a leading resource
of forms, rating procedures, underwriting guidelines, and other
information for the traditionally nonfiled classes of inland marine
insurance.
The new endorsements are:
-
"Equipment Borrowed from Others," which extends
coverage under a contractors equipment policy to loss by a covered
peril to equipment borrowed by the insured from another contractor
or individual.
-
"Continuing Rental Or Lease Payments," which can
be used to provide coverage for the insured's legal liability for
payments on leased or rented equipment that has been lost or
damaged.
The
revised rating rules will expand the types of risk characteristics used
to determine the loads so they reflect the coverage provided by these
new endorsements, but the rules will not include any changes to the actual
loads or factors. The current
loss cost rating information found in the Contractors Equipment section
of the Guide will continue to be used.
For ease of use, the newly revised Contractors
Equipment rating worksheet will display the rating steps on the left
side of the worksheet and the corresponding explanation, load,
modification, etc. to the right of each step. An automated version of
the worksheet will be posted on
AAISdirect.
For information on affiliating with AAIS for use of
the Inland Marine Guide, contact
Rick Maka, director of marketing, at
rickm@AAISonline.com or by
calling 800-564-AAIS.
Insurance departments in two states are seeking input
from AAIS compliance specialists.
The Massachusetts Division of Insurance has asked
AAIS to review and comment on two "buyer's guides" it has prepared for
consumers, one on boatowners insurance and the other covering personal
umbrella insurance.
The Colorado Division of Insurance has asked AAIS to
review and comment on the nine regulations listed here:
AAIS member companies that want to have input on
this review can contact Larsen at
larrisl@AAISonline.com.
Larris Larsen, AAIS assistant vice president for
compliance, participated last week in the second meeting of the
Massachusetts
Form and
Rate Filing Forum. The meeting reviewed, among other things, policy
change endorsements, effective dates for filings, pre-assessment
processing, and filing requirements for inland marine.
At the meeting in Boston, Larsen noted that
organizations that use the System for Electronic Rate and Form Filing
(SERFF), including AAIS, are not able to file a form simultaneously for
multiple programs in Massachusetts, while organizations that submit
paper filings are allowed to.
In response, the Massachusetts Division of Insurance
is considering changes that would allow companies that use SERFF to
submit "interline filings," and thus avoid having to file the same form
multiple times.
AAIS member companies
that wish
to attend future sessions of the Massachusetts forum or have concerns
they want presented there can contact Larsen at
larrisl@AAISonline.com.
