ILLINOIS
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.

NEW AND RENEWAL BUSINESS 
Posting date: 12/10/03, 6/4/04

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 
Farm Properties FL 0600 01 04 .0300 FL 0620 01 04

.0105
Farmowners FO 0600 01 04 .0300 FO 0620 01 04

.0075
Personal & Premises Liability (Farm Only) GL 0310 01 04 .0300 GL 0320 01 04

N/A
AAIS Effective Date: 1/1/04
AAIS Filing Number(s): Endorsements: AAIS-2003-62; Rating Information: Not Applicable--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.

Rating Information
Rates and/or loss costs are not subject to filing requirements in Illinois.

Companies affiliated for rating information need to establish an effective date, and submit only the completed transmittal form RF-3 (Illinois Department of Insurance Summary Sheet) to the insurance department.

Companies should, however, keep documentation as to the effective date and rates that they use.

Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: AAIS-2003-3

Effective Date: 2/11/03

Company Action:

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

Posting date: 11/12/03, 6/4/04      

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 
Farm Umbrella

UM 0330 01 04

Refer to company

UM 0340 01 04

N/A
AAIS Advisory Effective Date: 1/1/04
AAIS Filing Number(s): AAIS-2003-57  
Company action: Each company that wishes to adopt the 01 04 Farm Umbrella endorsements must do so by establishing an effective date and notifying the Insurance Department in writing.

Companies are not required to submit filings for Farm Umbrella rating information.

Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: AAIS-2003-4

Effective Date: 2/11/03

Company Action:

Affiliated companies can adopt the endorsement by establishing an effective date and notifying the insurance department in writing. Refer to the applicable Filing Number when corresponding with the Department.

 

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