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OKLAHOMA
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: 12/23/02, 2/11/03, 3/6/03 (Addl.
info), 3/14/03 (Addl. info), 5/22/03 (COP-XL info 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 |
.0150 |
CL 0620 05 03 |
.0053 |
| Artisans |
AP 0700 05 03 |
.0150 |
AP 0720 05 03 |
N/A |
| Businessowners |
BP 0750 05 03 |
.0150 |
BP 0770 05 03 |
.0038 |
| Commercial Inland Marine (filed classes) |
CL 0600 05 03 |
.0150 |
CL 0610 05 03 |
N/A |
| Commercial Liability |
GL 0250 05 03 |
.0150 |
GL 0260 05 03 |
N/A |
| Commercial Output |
CL 0600 05 03 |
.0150 |
CL 0620 05 03 |
.0053 |
| Commercial Output XL |
CL 0600 05 03 |
.0150 |
CL 0620 05 03 |
.0053 |
| Commercial Properties |
CL 0600 05 03 |
.0150 |
CL 0620 05 03 |
.0053 |
| Contractors & Developers Output |
CL 0600 05 03 |
.0150 |
CL 0620 05 03 |
.0053 |
| Crime |
CL 0600 05 03 |
.0150 |
CL 0610 05 03 |
N/A |
| Farm Properties |
FL 0600 05 03 |
.0150 |
FL 0620 05 03 |
.0053 |
| Farmowners |
FO 0600 05 03 |
.0150 |
FO 0620 05 03 |
.0038 |
| Glass |
CL 0600 05 03 |
.0150 |
CL 0610 05 03 |
N/A |
| Personal & Premises Liability (Farm
Only) |
GL 0310 05 03 |
.0150 |
GL 0320 05 03 |
N/A |
| AAIS Effective Date: 12/23/02 |
| Filing Numbers - (Endorsements) |
| Program |
AAIS Filing No. |
OK File No. |
| Artisans |
AAIS-2002-82APF |
02-5346C |
| Businessowners |
AAIS-2002-82BPF |
02-5366C |
| Commercial Liability |
AAIS-2002-82CLF |
02-5345C |
| Agricultural Output, Commercial Inland Marine (Filed
Classes), Commercial Properties, Commercial Output, Commercial Output-XL, Crime,
Contractors & Developers Output, and Glass |
AAIS-2002-82COMF |
02-5341C |
| Farm Properties |
AAIS-2002-82FPF |
02-5319C |
| Farmowners |
AAIS-2002-82FOF |
02-5318C |
| Personal & Premises Liability (Farm
Only) |
AAIS-2002-82PPLF |
02-5320C |
| |
| Filing Numbers - (Rating Information) |
| Program |
AAIS Filing No. |
OK File No. |
| Artisans |
AAIS-2002-82APR |
02-5311C |
| Businessowners |
AAIS-2002-82BPR |
02-5364C |
| Commercial Liability |
AAIS-2002-82CLR |
02-5310C |
| Agricultural Output, Commercial Inland Marine, Commercial
Output, Commercial Output-XL, Commercial Properties, Contractors & Developers Output,
Crime, and Glass |
AAIS-2002-82COMR |
02-5340C |
| Farm Properties |
AAIS-2002-82FPR |
02-5298C |
| Farmowners |
AAIS-2002-82FOR |
02-5299C |
| Personal & Premises Liability (Farm
Only) |
AAIS-2002-82PPLR |
02-5300C |
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
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 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.: 03-0585C
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 |
UM 0755 05 03 |
Refer to company |
UM 0765 05 03 |
N/A |
| Farm Umbrella |
UM 0330 05 03 |
Refer to company |
UM 0340 05 03 |
N/A |
| AAIS Advisory Effective Date: 12/23/02 |
| Filing Numbers |
| Program |
AAIS Filing No. |
OK File No. |
| Commercial Umbrella |
AAIS-2002-84CUP |
02-5326C |
| 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-2003-4
State Filing No.: 03-0566C
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(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: 2/11/03, 3/31/03 (Addl. Info), 5/22/03
(COP-XL added) |
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 0630 12 02 |
CL 0650 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 |
FO 0640 12 02 |
FO 0660 12 02 |
| 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: 6/1/03 |
| Filing Numbers - (Endorsements) |
Program |
AAIS Filing No. |
OK File No. |
| Artisans |
AAIS-2002-83APF |
03-0362C |
| Businessowners |
AAIS-2002-83BPF |
03-0376C |
| Commercial Liability |
AAIS-2002-83CLF |
03-0364C |
| Agricultural Output, Commercial Inland Marine
(Filed Classes), Commercial Properties, Commercial Output, Commercial Output-XL, Crime,
Contractors & Developers Output, and Glass |
AAIS-2002-83F |
03-0387C |
| Farm Properties |
AAIS-2002-83FPF |
03-0385C |
| Farmowners |
AAIS-2002-83FOF |
03-0384C |
| Personal & Premises Liability (Farm Only) |
AAIS-2002-83PPLF |
03-0386C |
| |
| Filing Numbers - (Rules Supplement) |
Program |
AAIS Filing No. |
OK File No. |
| Artisans |
AAIS-2002-83APR
AAIS-2002-83APR-1 |
03-0363C
03-2138C |
| Businessowners |
AAIS-2002-83BPR
AAIS-2002-83BPR-1 |
03-0377C
03-2139C |
| Commercial Liability |
AAIS-2002-83CLR
AAIS-2002-83CLR-1 |
03-0365C
03-2127C |
Agricultural Output, Commercial Inland Marine,
Commercial Output, Commercial Output-XL, Commercial Properties, Contractors &
Developers Output, Crime, and Glass |
AAIS-2002-83R AAIS-2002-83R-1 |
03-0388C
03-2143C |
| Farm Properties |
AAIS-2002-83FPR
AAIS-2002-83FPR-1 |
03-0382C
03-2144C |
| Farmowners |
AAIS-2002-83FOR
AAIS-2002-83FOR-1 |
03-0383C
03-2146C |
| Personal & Premises Liability |
AAIS-2002-83PPLR
AAIS-2002-83PPLR-1 |
03-0381C
03-2145C |
| Company action: Endorsements
Companies that have granted AAIS filing authority for forms and endorsements
can adopt the endorsements without notifying the insurance department.
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. |
| 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 not subject to the
Standard Fire Policy statutes that apply to policies providing property coverage for loss
caused by fire. (See the Sample SFP 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 |
UM 0775 12 02 |
UM 0785 12 02 |
| Farm Umbrella |
UM 0350 12 02 |
UM 0360 12 02 |
| AAIS Advisory Effective Date: 6/1/03 |
| Filing Numbers - (Endorsements) |
Program |
AAIS Filing No. |
OK File No. |
| Commercial Umbrella |
AAIS-2002-85CUP |
03-0406C |
| Farm Umbrella |
AAIS-2002-85FUP |
03-0530C |
| Company action: Endorsements
Companies that wish to adopt these endorsements must take the necessary filing
action with the Insurance Department. |
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