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ILLINOIS
DWELLING PROPERTIES AND PERSONAL &
PREMISES LIABILITY (GL-600) PROGRAMS
Status report on compliance with the Terrorism Risk Insurance Act of 2002 (the Act) and
related state regulatory policies Regarding
"certified" terrorism 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.
The applicability of AAIS's Dwelling Properties and Personal/Premises Liability
terrorism endorsements will depend on whether rental properties insured by such policies
are deemed to be commercial insurance for purposes of the federal program. For an
explanation, see Bulletin 03-0142.
| State Name: Illinois |
Posting date: 4/1/03 |
| |
Ed date/
Rev # |
Program |
AAIS effective date |
AAIS
filing # |
Insurance dept. filing #, if any |
| End't |
03 03 |
DP |
4/1/03 |
AAIS-2003-11F |
|
| |
|
PPL |
4/1/03 |
AAIS-2003-11F |
|
| Rules |
1.0 |
DP |
4/1/03 |
Filing not required |
|
| |
|
PPL |
4/1/03 |
Filing not required |
|
| Special company action: AAIS has not filed the manual
supplement in this state. For the Dwelling Properties program only, with respect to rules,
companies must establish their own effective date and submit rules to the insurance
department as an independent filing. For the Personal & Premises Liability program
only, with respect to rules, rules are not required to be filed in this state. Companies
are not required to notify the insurance department regarding their use of the supplement,
however, AAIS recommends that companies keep documentation as to the date upon which they
begin using it. |
| Comments: |
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