Individuals can now
register online
for the 2009 AAIS Main Event, April 26-28 at
The Ritz-Carlton in Half Moon Bay, Calif. To get a discount on
your registration, sign up by Friday, March 6. (Companies sending more
than one person are encouraged to register all of them, including
spouses and guests, at the same time, if possible.)
Five outside speakers for the conference were
announced in the last AAIS Advisory,
and more information on their presentations is available
online.
Of particular importance to AAIS member companies
will be the presentation on AAIS rating initiatives to be delivered by
Deborah Summerlin, vice president of insurance lines, and Greg
Jaynes, chief actuary, during the "AAIS Update" segment of the
conference program.
Attendees will hear how AAIS is incorporating
multivariate analysis, catastrophe modeling, predictive analytics, and
other techniques to expand the number of price points in its rating
plans. This session is a valuable opportunity for companies to see what
lies ahead.
A
hotel reservation form is also available online.
For more information, contact Joseph Harrington,
director of corporate communications, at
joeh@AAISonline.com, or by
calling 800-564-AAIS.
AAIS has added a new class of coverage--Equipment
Sales and Rental--to its Inland Marine
Guide of forms, rating procedures, underwriting guidelines, and
other information for the traditionally nonfiled classes of inland
marine insurance.
The new section features a base form that provides
open perils coverage for agricultural, construction, and other kinds of
mobile equipment held for sale or rental and described on a schedule.
Coverage is also provided for parts and accessories, for equipment of
others the insured is servicing, and for loss to rented equipment when
the lessee fails to meet obligations to insure it.
More details are available in a
press release. For
information on affiliating with AAIS for use of the Inland Marine
Guide, contact Rick Maka at
rickm@AAISonline.com or by calling 800-564-AAIS, ext. 222.
AAIS member companies are invited to participate in
a web seminar describing the new "Pronto" property valuation service
offered by e2Value, Inc., Stamford, Conn., a leading provider of online
valuation applications.
The seminar is scheduled for Thursday, Feb. 19 at 10
a.m. Central time (11 a.m. Eastern). The presenters will be Debbie
Wagner, vice president of sales for e2Value, and Rick Maka, AAIS
director of marketing.
To register for the seminar, go to
https://www1.gotomeeting.com/register/393189858
Pronto™ is a one-stop source where insurance professionals can obtain a
complete property report that includes data scoring, images, and an
insurance valuation as well as risk mapping. Using Pronto, agents,
brokers, and underwriters only need to provide the property address in
order to establish a replacement value. Pronto stores all the
information provided about a property as part of the valuation; this
information can be retrieved and updated at policy renewal.
Pronto is capable of analyzing carriers’ policies one at a time or all
at once. This capability can help carriers balance their
insurance-to-value (ITV) and manage their entire book of business. The
results of the data mining can be used for greater differentiation and
rating delineation.
AAIS member companies that sign up directly with
e2Value for use of Pronto will be eligible for an AAIS member discount.
Companies that use AAIS inland marine programs and
the AAISdirect Internet service now have access to the latest
edition of the AAIS Inland Marine Cause of Loss Report. Other
companies can access the report for a fee.
Updated annually, the report includes tables of
premium and loss data for 50 classes of personal, commercial,
and farm inland marine insurance.
For each class and for the line as a whole, tables
are provided listing written and earned premium, paid and incurred
losses, percentage of loss due to property perils (fire, wind/hail,
theft, etc.), and average severity of loss. Results are provided for
each year from 2003 through 2007, and for the five-year period.
The report is available free of additional charge to
companies that use AAISdirect and at least one of the four
following AAIS programs: Personal Inland Marine (filed), Commercial
Inland Marine (filed), Farm Inland Marine (filed), and the Inland
Marine Guide (nonfiled).
Other companies seeking to access the report can
contact Rick Maka, director of marketing, at
rickm@AAISonline.com, or by
calling 800-564-AAIS, ext. 222.
A
revised regulation in Kansas, effective Jan. 29, 2009, requires
licensed property/casualty insurers to inform their agents of the
availability of coverage under the state's assigned risk plans. Agents
are to be informed of the plans upon appointment and at least once a
year thereafter.
Also, carriers are responsible for making sure
agents know where forms are available for placing risks under the
assigned risk plans, but agencies are no longer required to maintain
supplies of the forms.
