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AAIS
Product Advisory - May 12, 2003
Special Version of Interstate Accounts Rule Applies To Virginia
Terrorism Supplement
At the request of the Virginia Bureau of Insurance (BOI), the
Interstate Accounts rule included in the Virginia Terrorism Loss
Rules Supplement has been revised to expressly state how coverage
for Virginia risks and multistate risks must be written.
Specifically, the new rule shown on page Rules
- 9 indicates that when the policy is endorsed to address
terrorism, the policy cannot cover property located in Virginia
and in any other state unless the terrorism endorsements and
rating information (if rating information is applicable) that
apply in Virginia, also apply in each state where covered property
is located.
Bulletin
03-0181 provides additional information. Bulletin 03-0181, and a
complete copy of the updated VA Rules Supplement, have been posted
to the AAIS open Web site at http://www.aaisonline.com/terror/Bulletin/03_0181.htm.
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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.
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To unsubscribe or change your e-mail subscription, contact Pat
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or 800/564-AAIS x289.
Contact Product Advisory at info@AAISonline.com.
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