Companies affiliated with AAIS for its
inland marine
programs can soon access a copy of the latest
Inland Marine Cause of Loss Report on the AAISdirect
Internet service.
Issued annually by AAIS, the report provides data on
premiums and losses for more than 40 classes of inland
marine insurance. The latest edition provides data for the
year 2008 and cumulative results for more than $2 billion in
premium and about $800 million in losses over the period
2004-08.
For each class, losses are categorized by nine causes of
loss: fire; extended coverage perils; collision; burglary
and robbery; theft and disappearance; breakage, collapse,
and landslide; water damage and flood; marine perils; and
all others.
Insurers who are not affiliated with AAIS for inland
marine, or who do not use AAISdirect, can order a copy of the report for $300. To order
a copy of the report, contact Rick Maka, director of
marketing, at
rickm@AAISonline.com.
The Massachusetts
Division of Insurance (DOI) recently approved, with changes,
AAIS Mobile-Homeowners (MHO) endorsements filed to allow
insurers to comply with a state law requiring them to offer
property and liability coverage for heating oil leaks or spills
at residential properties.
The MHO endorsements will take effect July
1, 2010. With the approval of those endorsements, AAIS will
proceed to file equivalent endorsements for other lines insuring
residential property.
The Massachusetts law mandating coverage for
heating oil spills and leaks was discussed in three previous
Advisories:
Jan. 7,
Feb. 10, and
March 10.
Robert Guevara, AAIS
vice president of inland marine, will speak on "Trends in
Inland Marine Coverage" at an upcoming seminar
sponsored by the Midwest Advisory Committee of the Inland Marine
Underwriters Association (IMUA).
The seminar
will be 8:30-10 a.m., Wed., June 9, in the UBS Tower, One North
Wacker Dr. in downtown Chicago. Registration begins at 8 a.m.;
the cost is $35 beforehand, $40 at the door; breakfast will be
provided.
In his address, Guevara will concentrate on topics in builders'
risk and installation floater coverage. He will discuss important court rulings,
"green" coverages, equipment breakdown coverage, coverage for
historic preservation tax credits, and the important distinction
between "delay in construction costs" and "soft costs."
To register for the seminar, see the
registration form.
Direct questions to Scott Gennusa at
sgennusa@harleysvillegroup.com.
AAIS is teaming up with The Hartford
Steam Boiler Inspection & Insurance Company (HSB) to provide
a free breakfast forum on "Equipment Breakdown in
Construction" on the final morning of the annual meeting
of the Inland Marine Underwriters Association (IMUA).
The event will be 8-10 a.m. on Wednesday,
May 19, at the Kingsmill Resort, Williamsburg, Va., the site of
the IMUA meeting.
Lisa Phillips, HSB product design
manager, will discuss how to identify and underwrite equipment
breakdown exposures on jobsites.
Robert Guevara, AAIS vice president of inland marine,
will describe new equipment breakdown coverage forms developed
in consultation with
HSB for the Builders Risk and Installation Floater classes found
in the AAIS Inland Marine Guide.
Attendance is free of charge to all IMUA
members; breakfast will be provided. To reserve a spot, contact
Sheila Morris, AAIS manager of inland marine, at
sheilam@AAISonline.com,
or by calling 800-564-AAIS, ext. 286.
