Wheaton, Ill., July 10, 2008—Property/casualty insurers will soon have access to updated rating information for commercial crime insurance.

The American Association of Insurance Services (AAIS) has filed revised loss costs under its Commercial Crime Program in most states. To date, 21 states have approved the filing, with an effective date of Jan. 1, 2009.

AAIS is a former rating bureau that develops policy forms and rating information for 23 programs of personal, commercial, agricultural, and inland marine insurance. AAIS programs are used by more than 600 property/casualty insurers throughout the U.S.

AAIS is also a licensed statistical agent that collects premium and loss data for all lines of insurance for which it supports a program, plus personal auto. In most states, changes to the Commercial Crime loss costs reflect indications based on AAIS statistical data and, for certain coverages, crime experience data collected and published by the Federal Bureau of Investigation.

The federal crime data was utilized to calculate average incidence of property crime per 1,000 persons in each state and the District of Columbia, and to determine the relativity of each state's incidence of property crime to the national average. The rate level adjustments in this filing reflect such relativity, as well as recent years' premium and loss experience, and related cost index changes.

The AAIS Commercial Crime Program provides forms, endorsements, manual rules, and rating information for providing nine different types of commercial crime coverage: burglary/robbery, computer fraud, counterfeit money/money orders/travelers checks, employee dishonesty, forgery, forgery--personal accounts, money/securities, premises liability for guests' property, and theft.