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AAIS Product Advisory - January 24,
2003 AM
Status of Certified Terrorism Loss
Filings
AAIS endorsements and rating information that can be used when
coverage is provided for loss caused by a certified act of
terrorism have been filed in Florida, on a file and use basis. The
endorsement numbers and corresponding rating factors have been
posted on the AAIS open Web site at http://www.aaisonline.com/terror/StateAction.htm.
Florida has not previously approved
terrorism exclusions. Accordingly, the endorsements that cover
loss caused by certified acts of terrorism are intended for use
with new, renewal, and in-force policies, but the rating factors
should be used only with new and renewal policies.
AAIS endorsements that can be used
to exclude coverage for loss caused by certified acts of terrorism
when the insured declines the offer of coverage have been filed in
Florida on a prior approval basis. Information regarding the use
of such endorsements will not be posted to the Web site until
state approval has been received.
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AAIS helps more than 600 property/casualty insurers compete in
their markets by providing cost-effective technical services,
including forms and manuals, and product development, actuarial,
statistical, filing, and software support.
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Companies that do not currently use
an AAIS program referenced here can request additional information
from Rick Anderer at Richarda@aaisonline.com
or 800/564-AAIS x222.
To subscribe to AAIS Product
Advisory, go to www.AAISinfo.com.
To unsubscribe or change your e-mail subscription, contact Pat
Peters at Patp@aaisonline.com
or 800/564-AAIS x289.
Contact Product Advisory at info@AAISonline.com.
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