Starting this week, AAIS will
be distributing new rating worksheets for several classes in the
Inland Marine Guide, AAIS's
industry-leading resource of policy forms, rating procedures, and
underwriting guidelines for the traditionally nonfiled classes of inland
marine insurance.
On Friday, Aug. 10,
Guide users will receive new rating worksheets that correspond to
recently revised countrywide Transit rating information. New Transit
worksheets will be available for per vehicle, volume shipment, and trip
transit rating.
The following
Friday, Aug. 17, Guide users will receive new rating worksheets
for the revised Difference in Conditions class, as well as for
Miscellaneous Floaters for insuring property on exhibit, sales
representative samples, patterns and dies, mobile equipment, and
miscellaneous bailee and scheduled property risks.
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.
The New York State Insurance Department has extended
a 2006 emergency order regarding notice to homeowners insureds who are
cancelled, non-renewed, or conditionally renewed .
The order, now extended through early October 2007,
requires carriers to inform eligible policyholders
of the possibility of coverage through a state-sponsored "market
assistance program" (MAP) or the New Property Insurance Underwriting
Association.
According to the original
order, the notice must provide sufficient information on how to
apply for coverage under the programs.
In a recent
bulletin, the
New Hampshire Insurance Department announced that it will no longer
accept paper filings after
Jan. 1, 2008. As of that date, all rate and form filings in New
Hampshire must be submitted
using "SERFF," the System for Electronic Rate and Form Filing,
and all filings-related fees must be paid via electronic funds transfer
(EFT).
To date, the following jurisdictions, plus
New Hampshire, have implemented electronic requirements that have taken effect
sometime between Jan. 1, 2007 and Jan. 1, 2008: Alabama, Delaware,
District of Columbia, Georgia, Iowa, Minnesota, Rhode Island, South Dakota, and
Utah.
AAIS is a licensed
third-party provider of SERFF filings, with EFT capability, and can submit custom filings of
company forms and manuals, whether or not they are based on AAIS
programs. For information, contact
compliance@AAISonline.com.
Insurers writing
most property/casualty lines in New Jersey have until Sept. 15, 2007 to
pay an assessment equal to 1.4% of net direct written premium to the
state's Property-Liability Guaranty Association.
The assessment is
explained in an
order from the New Jersey Department of Banking and Insurance, which
authorizes affected insurers to levy a surcharge up to 1.4% of net
direct written premium on certain policies to recoup the assessment. The
order also addresses surcharge limits for carriers whose surcharges in
previous years may have exceeded or fallen short of their guaranty fund
assessments.
