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COLORADO
Status report on compliance with the
Terrorism Risk Insurance Act of 2002
and related state regulatory policies

Regarding "certified" commercial losses
For an act of terrorism to be certified by the U.S. Secretary of the Treasury (and thus trigger coverage under the federal Terrorism Reinsurance Program), it must cause more than $5 million in losses and be inspired, directed, and/or carried out on behalf of a foreign person or interest.

IN FORCE BUSINESS - Use the endorsements and rating information shown below only when the insured accepts the offer of coverage for certified terrorism loss.
NEW AND RENEWAL BUSINESS 
Posting date: 12/30/02, 3/4/03 (addl. info)

AAIS commercial lines programs filed on behalf of companies

AAIS endorsement used when coverage is provided under the federal Terrorism Insurance Program

Rating factor to accompany coverage endorsement

AAIS endorsement used when insured declines terrorism coverage
(New and Renewal Policies Only)

Fire following rating factor for SFP states 
Agricultural Output

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Artisans

Filing Not Required - (Use AP 0700 12 02)

.0200

Filing Not Required - (Use AP 0710 12 02)

N/A
Businessowners

Filing Not Required - (Use BP 0750 12 02)

.0175

Filing Not Required - (Use BP 0760 12 02)

N/A
Commercial Inland Marine (filed classes)

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Commercial Liability

Filing Not Required - (Use GL 0250 12 02)

.0200

Filing Not Required - (Use GL 0260 12 02)

N/A
Commercial Output

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Commercial Output XL

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Commercial Properties

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Contractors & Developers Output

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Crime

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
Glass

Filing Not Required - (Use CL 0600 12 02)

.0175

Filing Not Required - (Use CL 0610 12 02)

N/A
AAIS Effective Date: 12/30/02
AAIS Filing Number(s): AAIS-2002-82 (Rating Information only); Form Filing Not Required
Company action:

Endorsements
Companies that have granted AAIS filing authority for forms and endorsements can adopt the endorsements without notifying the insurance department. No company action is required with the insurance department, but companies should keep documentation as to the effective date of the forms and endorsements that they use.

Rating Information
Companies that have granted AAIS filing authority for rating information can adopt this rating information without notifying the insurance department if they intend to use it without change.

However, companies that choose to depart from the AAIS filed rating information, including a decision not to adopt the rating information, must notify the insurance department in writing as soon as possible.

Expedited Filing Transmittal
An Expedited Filing Transmittal Document For Terrorism Risk Insurance Forms and Pricing must be included in order to receive expedited handling of any filing required under these instructions.
Comments:

Disclosure Notices
Affiliated companies can use the AAIS policyholder notices as filed with slight modifications for individual policies or develop independent notices that contain the information required by the Terrorism Risk Insurance Act. Companies that develop their own notices are NOT required to place them on file.
Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: Not Applicable -- Filing Not Required

Effective Date: 2/11/03

Company Action: Affiliated companies can adopt the endorsement, as filed, without taking any filing action.

AAIS commercial lines advisory filings

AAIS endorsement used when coverage is provided under the federal Terrorism Insurance Program

Rating factor to accompany coverage endorsement

AAIS endorsement used when insured declines terrorism coverage

Fire following rating factor for SFP states 
Commercial Umbrella

Filing Not Required - (Use UM 0755 12 02)

Refer to company

Filing Not Required - (Use UM 0765 12 02)

 N/A
AAIS Advisory Effective Date: 12/30/02
AAIS Filing Number(s): Not Applicable
Company action:

Endorsements
Companies that are affiliated for these lines of insurance can adopt the endorsements without notifying the insurance department. No company action is required with the insurance department, but companies should keep documentation as to the effective date of the forms and endorsements that they use.

Rating Information
Companies must submit Commercial and/or Farm Umbrella rating information independently.

Expedited Filing Transmittal
An Expedited Filing Transmittal Document For Terrorism Risk Insurance Forms and Pricing must be included in order to receive expedited handling of any filing required under these instructions.
Comments:

Disclosure Notices
Affiliated companies can use the AAIS policyholder notices as filed with slight modifications for individual policies or develop independent notices that contain the information required by the Terrorism Risk Insurance Act. Companies that develop their own notices are NOT required to place them on file.

 Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: Not Applicable -- Filing Not Required

Effective Date: 2/11/03

Company Action: Companies that are affiliated for these lines of insurance can adopt the endorsements without notifying the insurance department. No company action is required with the insurance department, but companies should keep documentation as to the effective date of the forms and endorsements that they use.

  

Regarding "non-certified" commercial losses
Non-certified terrorism losses are all commercial losses from acts of terrorism that are not certified as such by the Secretary of the Treasury, and thus not covered by the federal reinsurance program. These include, but are not necessarily limited to, acts inspired, directed, and/or carried out by domestic U.S. groups or individuals.

NEW AND RENEWAL BUSINESS 
Posting date: 3/4/03
Filings Submitted for Proposed Effective Date of: 4/1/03
AAIS commercial lines programs filed on behalf of companies

AAIS endorsement used to exclude coverage for non-certified terrorism losses

AAIS endorsement used to exclude coverage for nuclear, biological, or chemical terrorism losses
Agricultural Output

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Artisans

Filing Not Required (Use AP 0730 12 02)

Filing Not Required (Use AP 0750 12 02)
Businessowners

Filing Not Required (Use BP 0780 12 02)

Filing Not Required (Use BP 0800 12 02)
Commercial Inland Marine (filed classes)

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Commercial Liability

Filing Not Required (Use GL 0270 12 02)

Filing Not Required (Use GL 0280 12 02)
Commercial Output

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Commercial Output XL

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Commercial Properties

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Contractors & Developers Output

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Crime 

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Farm Properties

Filing Not Required (Use FL 0630 12 02)

 Filing Not Required (Use FL 0650 12 02)
Farmowners

Filing Not Required (Use FO 0630 12 02)

Filing Not Required (Use FO 0650 12 02)
Glass

Filing Not Required (Use CL 0630 12 02)

Filing Not Required (Use CL 0650 12 02)
Personal & Premises Liability (Farm Only)

 Filing Not Required (Use GL 0330 12 02)

Filing Not Required (Use GL 0340 12 02)
AAIS Effective Date: 4/1/03
AAIS Filing Number(s): AAIS-2002-83 (Rules only); Form Filing Not Required
Company action: Companies that have granted AAIS filing authority for forms and endorsements can adopt the endorsements without notifying the insurance department. No company action is required with the insurance department, but companies should keep documentation as to the effective date of the forms and endorsements that they use.
Comments: Manual rules that address the use of the various terrorism endorsements were filed in conjunction with the endorsements that exclude loss caused by non-certified acts of terrorism. (See the Sample NSFP Terrorism Rules Supplement attachment to Bulletin 02-0550 at this Web site).
AAIS commercial lines advisory filings

AAIS endorsement number for excluding coverage for non-certified terrorism losses

AAIS endorsement used to exclude coverage for nuclear, biological, or chemical terrorism losses
Commercial Umbrella

 Filing Not Required (Use UM 0775 12 02)

Filing Not Required (Use UM 0785 12 02)
Farm Umbrella

Filing Not Required (Use UM 0350 12 02)

Filing Not Required (Use UM 0360 12 02)
AAIS Advisory Effective Date: 4/1/03
AAIS Filing Number(s): Not Applicable -- No Filing Required
Company action: No company action is required with the insurance department, but companies should keep documentation as to the effective date of the forms and endorsements that they use.

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