|
LOUISIANA
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. |
| Posting date: 1/9/03, 1/13/03 (addl. info), 1/31/03
(addl. info), 3/13/03 (rev. endrsmnts), 5/2/03 and 5/27/03 (State File Numbers added) |
| 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 |
CL 0600 05 03* |
.0125 |
CL 0620 05 03* |
.0044 |
| Artisans |
AP 0700 05 03* |
No Manual on File |
AP 0720 05 03* |
N/A |
| Businessowners |
BP 0750 05 03* |
No Manual on File |
BP 0770 05 03* |
No Manual on File |
| Commercial Inland Marine (filed classes) |
CL 0600 05 03* |
.0125 |
CL 0620 05 03* |
.0044 |
| Commercial Liability |
GL 0250 05 03* |
.0150 |
GL 0260 05 03* |
N/A |
| Commercial Output |
CL 0600 05 03* |
.0125 |
CL 0620 05 03* |
.0044 |
| Commercial Output XL |
CL 0600 05 03* |
.0125 |
CL 0620 05 03* |
.0044 |
| Commercial Properties |
CL 0600 05 03* |
No Manual on File |
CL 0620 05 03* |
No Manual on File |
| Contractors & Developers Output |
CL 0600 05 03* |
.0125 |
CL 0620 05 03* |
.0044 |
| Crime |
CL 0600 05 03* |
.0125 |
CL 0610 05 03* |
N/A |
| Farm Properties |
FL 0600 05 03* |
No Manual on File |
FL 0620 05 03* |
No Manual on File |
| Farmowners |
No Program Currently On File |
| Glass |
CL 0600 05 03* |
.0125 |
CL 0610 05 03* |
N/A |
| Personal & Premises Liability (Farm Only) |
GL 0310 05 03* |
.0150 |
GL 0320 05 03* |
N/A |
| *Special version of endorsement applies. |
| AAIS Effective Date: 2/14/03 |
| Rating Information Filing Number(s): AAIS-2002-82R and LIRC
Agenda 7b28 - 2003 January 15 10a.m. - 11867 |
| Program |
AAIS Filing No. |
State File No. |
| Agricultural Output |
AAIS-2002-82AGF |
2032652 |
| Artisans |
AAIS-2002-82APF |
2032647 |
| Businessowners |
AAIS-2002-82BPF |
2032648 |
| Commercial Inland Marine (Filed Classes) |
AAIS-2002-82CIMF |
2032653 |
| Commercial Liability |
AAIS-2002-82CLF |
2032649 |
| Commercial Output |
AAIS-2002-82COPF |
2032656 |
| Commercial Properties |
AAIS-2002-82CPF |
2032658 |
| Contractors & Developers Output |
AAIS-2002-82DOPF |
2032659 |
| Crime |
AAIS-2002-82CRF |
2032660 |
| Farm Properties |
AAIS-2002-82FPF |
2032650 |
| Glass |
AAIS-2002-82GSF |
2032661 |
| Personal & Premises Liability (Farm Only) |
AAIS-2002-82PPLF |
2032651 |
| Company action: Endorsements
Companies that have granted AAIS filing authority for forms and endorsements
can adopt the endorsements by notifying the insurance department in writing of their
intent and including the necessary filing fees. Companies that choose not to adopt a
filing must also notify the insurance department as soon as possible and include the
appropriate filing fees.
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 must
notify the insurance department in writing as soon as possible.
Companies that choose not to adopt the rating information are not required to notify
the insurance department.
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 required to place them on file for informational purposes. |
Separate Line Item Disclosure Endorsement (CL 0605 02 03)
AAIS Filing No.: AAIS-2003-3
State Filing No.: 2030997
Effective Date: 2/11/03
Company Action: Companies that have granted AAIS filing authority for forms and
endorsements can adopt the endorsements by notifying the insurance department in writing
of their intent and including the necessary filing fees. Companies that choose not to
adopt a filing must also notify the insurance department as soon as possible and include
the appropriate filing fees.
|
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 |
UM 0755 05 03* |
Refer to company |
UM 0765 05 03* |
N/A |
| Farm Umbrella |
No Program Currently On File |
| *Special version of endorsement applies. |
| AAIS Advisory Effective Date: 2/14/03 |
| AAIS Filing Number(s): AAIS-2002-84-1 |
| State File Number: 2031207 |
| Company action: |
| Endorsements |
| Each company that wishes to adopt these endorsements must
do so by establishing an effective date and notifying the Insurance Department in writing.
|
| |
| |
| Rating Information |
| Companies must also submit related 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 that wish to adopt the AAIS policyholder notices as filed,
with slight modifications for individual policies, must do so by notifying the Insurance
Department in writing. Companies that develop their own notices are required to place them
on file for informational purposes. |
Separate Line Item Disclosure Endorsement (CL 0605 02 03)
AAIS Filing No.: AAIS-2003-4CUP
State Filing No.: 2030998
Effective Date: 2/11/03
Company Action: Affiliated companies can adopt the endorsement by establishing
an effective date, notifying the insurance department in writing of their intent, and
including the necessary filing fees. Refer to the applicable Filing Number(s) when
corresponding with the Department.
|
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.
| Posting date: 3/13/03, 3/18/03 (addl. info), 5/27/03
(addl. info) |
| 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 |
CL 0640 12 02 |
CL 0660 12 02 |
| Artisans |
AP 0740 12 02 |
AP 0760 12 02 |
| Businessowners |
BP 0790 12 02 |
BP 0810 12 02 |
| Commercial Inland Marine (filed classes) |
CL 0640 12 02 |
CL 0660 12 02 |
| Commercial Liability |
GL 0270 12 02 |
GL 0280 12 02 |
| Commercial Output |
CL 0640 12 02 |
CL 0660 12 02 |
| Commercial Output XL |
CL 0640 12 02 |
CL 0660 12 02 |
| Commercial Properties |
CL 0640 12 02 |
CL 0660 12 02 |
| Contractors & Developers Output |
CL 0640 12 02 |
CL 0660 12 02 |
| Crime |
CL 0630 12 02 |
CL 0650 12 02 |
| Farm Properties |
FL 0640 12 02 |
FL 0660 12 02 |
| Farmowners |
No Program Currently On
File |
| Glass |
CL 0630 12 02 |
CL 0650 12 02 |
| Personal & Premises Liability (Farm Only) |
GL 0330 12 02 |
GL 0340 12 02 |
| AAIS Effective Date: 4/1/03 |
| AAIS Filing Number(s): AAIS-2002-83F (endorsements);
AAIS-2002-83R (rules) and AAIS-2002-83R-1 (rules) |
| State Filing Number(s): 2030808 (endorsements) 7b10-February
26, 2003 10 A.M. - 12079 & 7b10-May 22, 2003 10 A.M. - 12699 (rules) |
| Company action: Endorsements
Companies that have granted AAIS filing authority for forms and endorsements
can adopt the endorsements by notifying the insurance department in writing of their
intent and including the necessary filing fees. Companies that choose not to adopt a
filing must notify the insurance department as soon as possible and include the
appropriate filing fees.
Rules Supplement
Companies that have granted AAIS filing authority for rules can adopt the
manual supplement without notifying the insurance department if they intend to use it
without change.
However, companies that choose to depart from the AAIS filed rules must notify the
insurance department in writing as soon as possible.
Companies that choose not to adopt the rules are not required to notify the insurance
department. |
| 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. The rules filed in this state indicate that the
Commercial Inland Marine program (Filed Classes) is subject to the Standard Fire
Policy statutes that apply to policies providing property coverage for loss caused by
fire. Accordingly, the sample SFP Terrorism Loss Rules Supplement shown with Bulletin
02-0550 at this web site is not entirely consistent with the Supplement filed in this
state. |
| 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 |
UM 0775 12 02 |
UM 0785 12 02 |
| Farm Umbrella |
No Program Currently On File |
| AAIS Advisory Effective Date: 4/1/03 |
| AAIS Filing Number(s): AAIS-2002-85 |
| State Filing Number(s): 2030811 |
| Company action: Endorsements
Each company that wishes to adopt these endorsements must do so by establishing
an effective date and notifying the Insurance Department in writing. |
BACK
TO STATE LIST
|
|
