|
AAIS Product
Advisory - April 25, 2003 PM
"Product Advisory" identifies all AAIS bulletins issued
this week and includes other information of interest to
property/casualty insurers. Link here for Product Advisory from
previous weeks: http://www.AAISonline.com/General/advisory/palist.htm
NORTH DAKOTA NEW EFFICIENT PROXIMATE CAUSE LAW SB 2224, EFFECTIVE
08-01-03
New law addresses efficient proximate cause issues related to
Western National v. University of North Dakota. AAIS has been in
contact with the ND Department of Insurance and will assess the
need for policy language changes once the Department's position is
final. A future bulletin will provide details of any filing action
taken.
See: http://www.state.nd.us/lr/assembly/58-2003/bill_text/DRCN0200.pdf
To view, highlight the entire link or copy to your browser.
ARTICLE ON COINSURANCE AND INSURANCE TO VALUE REQUIREMENTS
An article explaining the purpose of coinsurance in commercial
property policies and insurance to value requirements in the
homeowners policy is available on AAISdirect for those affiliates
that are subscribers. The article provides examples of how to
calculate the loss payment when such requirements apply, including
application of the deductible. The article is found under the
Commercial Property and Homeowners education materials.
Companies that do not subscribe to AAISdirect can contact Bob
Prahl at bobp@AAISonline.com
for an electronic copy of the article.
STATE-SPECIFIC TERRORISM INFORMATION POSTED
Information regarding the AAIS certified filings has been posted
for all 52 jurisdictions. Non-certified filings have been
submitted in 48 jurisdictions and approved in 40. State-specific
filing information related to compliance with the federal
terrorism reinsurance program is posted at:http://www.AAISonline.com/terror/StateAction.htm
----------------------------------------------------------
BULLETINS BY CATEGORY
------------------------------------------------------------------------------------
COUNTRYWIDE/MULTIPLE LINES
------------------------------------------------------------------------------------
COUNTRYWIDE
Commercial Inland Marine, Inland Marine Guide, Personal Inland
Marine
Latest Cause of Loss Report Available
Bulletin 03-0156
Report provides statistical data for premium and losses in more
than 40 classes of inland marine insurance.
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------
TERRORISM UPDATES - Bulletins listed by State
-------------------------------------------------------------------------------------
COUNTRYWIDE
Dwelling Properties, Personal and Premises Liability
Bulletin 03-0160
Status of Certified Terrorism Filings
Filings acknowledged in 25 jurisdictions.
-------------------------------------------------------------------------------------------------------------
VIRGINIA
Commercial Lines
Bulletin 03-0161
Certified Terrorism Exclusion Endorsements Revised
Proposed effective date July 1, 2003.
-------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
PROGRAM UPDATES - Bulletins listed by Line of Insurance
--------------------------------------------------------------------------------------------------
COMMERCIAL OUTPUT
New York
Revision 3.0 Filed
Bulletin 03-0157
Proposed
effective date July 1, 2003.
-------------------------------------------------------------------------------------------------------------
COMMERCIAL UMBRELLA
Alaska
Mold, Construction Defects, and EIFS Endorsements Disapproved
Bulletin 03-0158
-------------------------------------------------------------------------------------------------------------
FARMOWNERS, HOMEOWNERS, MOBILE-HOMEOWNERS
California
Identify Fraud Expense Coverage Option Approved
Bulletin 03-0149
Effective date Aug. 1, 2003.
---------------------------------------------------------------------------------------------------------
AAIS helps more than 600 property/casualty insurers compete in
their markets by providing cost-effective technical services,
including forms and manuals, and product development, actuarial,
statistical, filing, and software support.
---------------------------------------------------------------------------------------------------------
Subscribers to http://www.AAISdirect.com
may view and download these bulletins immediately.
Companies that do not currently use an AAIS program referenced
here can request additional information from Rick Anderer at richarda@AAISonline.com
or 800/564-AAIS x222.
Feel free to forward the AAIS Product Advisory to anyone. To
subscribe to AAIS Product Advisory, go to www.AAISinfo.com.
To unsubscribe or change your e-mail subscription, contact Pat
Peters at patp@AAISonline.com
or 800/564-AAIS x289.
Contact Product Advisory at info@AAISonline.com.
-------------------------------------------------------------------------------------------
 Top
|
