Revised sample policyholder notices for renewal
policies were recently
distributed to all AAIS affiliates for lines covered under the federal
terrorism reinsurance program.
Among other things, the notices inform policyholders
that coverage under the program can now extend to acts of domestic
terrorism, and that the insurer is not obligated for losses that exceed
a $100 billion annual cap on losses under the program. Alternative
sample notices are provided for states with or without requirements that
policies cover fire loss following an act of terrorism.
To date, AAIS has issued nearly 600 state bulletins
to announce the approval or availability of terrorism endorsements
revised to reflect the latest extension of the program. In addition,
revised multi-line terrorism manual supplements have been filed in all
states.
The 2008 AAIS Main Event has
already received more registrations than
previous AAIS conferences, and rooms at the
conference hotel are filling up fast.
The conference, April 20-22 in Ponte Vedra Beach,
Fla., features five expert speakers, a panel of insurance CEOs, and
expanded participation by AAIS staff experts.
For a detailed description of the meeting and
its social events,
To register ,
To reserve a room at Ponte Vedra Inn & Club,
For more information, contact Joseph Harrington,
director of corporate communications, at
joeh@AAISonline.com, or by
calling 800-564-AAIS.
Insurers writing homeowners insurance property
coverage in Mississippi have until the end of March to provide the state
with 2007 data on residential property insurance claims, according to a
recent
bulletin from insurance commissioner Mike Chaney.
The bulletin states that insurers have 45 days from
the date of the bulletin (Feb. 13, 2008) to report the following
information:
-
The number of "homeowners personal lines
residential insurance property claims" filed in 2007;
-
The number of claims paid of those filed in
2007;
-
The number of claims denied of those filed in
2007; and
-
The dollar amount of payments for those claims
filed in 2007.
Because of the timing of the data call and the type
of information requested, AAIS cannot respond on behalf of its
Homeowners affiliates in Mississippi.
A recent
bulletin from the Delaware insurance department reminds homeowners
insurers in that state that they have until April 15 to complete an
annual rate survey.
The department provides a
list of all companies that are required to respond (all those with
more than a .01% share of the homeowners multi-peril market) plus
instructions for providing rates for 24 hypothetical rating
situations. Those hypothetical situations involve owner-occupied,
renters, and unit-owners policies with different deductibles, types of
construction, and age of dwellings.
Insurers that write liability coverage are invited
to participate in a special AAIS research study regarding the frequency
and severity of claims for personal injury, such as libel, slander, and
violation of privacy.
In particular, carriers are asked to respond to a
voluntary call for personal injury claims data from 2002 through 2006.
Information and instructions are available in a Microsoft Word
document, and a
Microsoft Excel spreadsheet
is provided for responding to the data call.
The study seeks to determine how the frequency and
severity of personal injury claims have been affected by:
-
The growing use of e-mail, blogs, "gripe sites,"
networking sites, picture/video phones, and other forms of
electronic communication; and
-
The growing incidence of "cyberbullying" and
other offensive behaviors associated with these communications.
All carriers that write personal injury coverage can
participate, whether they are AAIS members or not. Companies that
provide data will receive a report with the aggregate results, plus
analysis.
If you have questions about the study, contact Greg
Jaynes, director of actuarial services, at
gregj@AAISonline.com, or Larry
Thill, manager of data management, at
larryt@AAISonline.com.
