The word "not" was inadvertently omitted from a
sentence on page 6 of the Winter 2009 edition of AAIS's Viewpoint
magazine.
The correct sentence reads: "AAIS Homeowners forms
include an incidental coverage, however, for BI/PD liability arising
from specified use of certain vehicles not registered for
use on public roads or required to be registered at the location of an
occurrence."
Anyone attending or
planning to attend the AAIS Main Event conference, April 26-28 at The
Ritz-Carlton in Half Moon Bay, Calif., should reserve a room quickly if
you haven't done so already.
AAIS has reserved a
block of rooms through Monday, March 23. Rooms may be available after
that date, but there is no guarantee they will be available at the AAIS
group rate.
You can reserve a
room
online; be sure to add the AAIS group code (dhpdhpa) under
"Additional Information." Alternatively, you can use a
hotel reservation form developed specifically for the Main Event.
A
description of the
conference program and
conference registration
are also available online. The "early bird" registration fee has
been extended to allow additional companies to capitalize on the deep
discounts in air fares recently announced by major airlines.
For more information, contact Joseph Harrington,
director of corporate communications, at
joeh@AAISonline.com, or by
calling 800-564-AAIS.
AAIS has posted a
new online report on developments in insuring residential
condominium property.
In the latest of AAIS's reports on "Emerging Issues
and Exposures," Kirk Hansen, AAIS director of education, provides
background information on different approaches used to assign insurance
responsibilities to condominium associations and individual unit-owners.
Kirk then reviews recent developments in Florida,
Georgia, and Maryland related to this topic.
To contact Kirk, write to
kirkh@AAISonline.com or call
800-564-AAIS, ext. 247.
The latest revision of loss costs provided under the
AAIS Commercial Crime Program has been filed and approved in 51
jurisdictions. The revised loss costs
are currently in effect in 48 states and the District of Columbia. They
will take effect in Puerto Rico on April 1, 2009 and in California on
June 1; the revision was not filed in Florida.
The AAIS Commercial Crime Program provides forms,
endorsements, manual rules, and rating information for providing nine
different types of commercial crime coverage: burglary/robbery, computer
fraud, counterfeit money/money orders/travelers checks, employee
dishonesty, forgery, forgery--personal accounts, money/securities,
premises liability for guests' property, and theft.
Changes to the Commercial Crime loss costs reflect
indications based on AAIS statistical data and, for certain coverages,
crime experience data collected and published by the Federal Bureau of
Investigation.
The federal crime data was utilized to calculate
average incidence of property crime per 1,000 persons in each state and
the District of Columbia, and to determine the relativity of each
state's incidence of property crime to the national average. The rate
level adjustments in this filing reflect such relativity, as well as
recent years' premium and loss experience, and related cost index
changes.
For information on affiliating with AAIS for use of
the Commercial Crime Program, contact Rick Maka, AAIS director of
marketing, at rickm@AAISonline.com,
or by calling 800-564-AAIS, ext. 222.
Insurers writing homeowners insurance in Delaware
have until April 15 to complete the state's
2009
Homeowners Insurance Rate Survey.
Instructions for completing the survey and a
list of companies required to complete the survey are provided
online.
The survey asks respondents to price hypothetical
risks using current rates. Therefore, companies must respond on their
own. Historical premium and loss data reported to AAIS will not fulfill
the requirements of the survey.
A recent
bulletin from the Ohio Department of Insurance reminds insurers and
agents that they face possible sanctions if they issue certificates of
insurance that do not accurately reflect the terms of the policies they
refer to.
Among other things, the order states that carriers
may be bound to honor any statement in a certificate of insurance or
other document that extends the coverage of the subject policy. Such
statements could include references to construction contracts, service
contracts, or insurance requirements; the bulletin says certificates
should avoid such references.
In addition, the bulletin says that each certificate
of insurance or other "evidence document" should include an explicit
statement that the document "neither affirmatively nor negatively
amends, extends, or alters" the terms of the policy it references.
