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AAIS Product Advisory - March 6, 2003
Update -- Texas Rating Information
for Certified Terrorism Loss
Rating information for certified
terrorism coverage has been placed on file in Texas. Go to http://www.aaisonline.com/terror/TX.htm
Companies that wish to implement the AAIS rating information must
establish an effective date and submit the necessary reference
filing(s) to the Texas Department of Insurance, as well as meet
the special requirements set forth below. The TDI numbers that a
company will need to reference when filing to adopt the AAIS
rating information will be posted as soon as they are issued by
the Texas Insurance Department.
When adopting the certified
terrorism rating information, each company must provide the date(s)
and amount(s) of any rate change(s) implemented since 9/11/2001,
and attest to the following:
No rate changes have been taken
since 9/11/2001 to account for terrorism or an increased exposure
to terrorism.
Increased costs for reinsurance as
a result of terrorism or an increased exposure to terrorism have
not been passed on to policyholders through increased rates,
deviations, loss costs, or loss cost multipliers.
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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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