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AAIS Product Advisory - June 6, 2003
"Product Advisory" identifies all AAIS bulletins issued
this week and includes other information of interest to
property/casualty insurers. Link here for Product Advisory from
previous weeks: http://www.AAISonline.com/General/advisory/palist.htm
COP-XL NOW AVAILABLE IN MOST STATES
AAIS's Commercial Output XL Program, an expanded version of the
Commercial Output Program (COP), is now available for use in most
jurisdictions. Designed to meet the property insurance needs of
very large accounts, the COP-XL incorporates equipment breakdown
coverage into the base property form, and provides an even broader
range of built-in coverages. For more information go to
http://www.aaisonline.com/General/Press/Press6_6_03.htm
SETTING REALISTIC RESERVES -- PROJECTING THE COMPANY'S FUTURE
OBLIGATIONS
According to a recent National
Underwriter article, property-casualty insurers made reserve
adjustments totaling approximately $20 billion in 2002 to account
for previously unrecognized exposures. What is the purpose of
claim reserves and why can they have such a dramatic effect on the
underlying financial strength of property-casualty insurers and
the industry? For a comprehensive article on the reserving
process, written by AAIS Education Director Robert Prahl, go to www.AAISonline.com
and click on the above title.
STATE-SPECIFIC TERRORISM INFORMATION POSTED
Information regarding the AAIS certified filings has been posted
for all 52 jurisdictions. Non-certified filings have been
submitted in 48 jurisdictions and approved in 44. State-specific
filing information related to compliance with the federal
terrorism reinsurance program is posted at:
http://www.AAISonline.com/terror/StateAction.htm
ADVERTISING IN VIEWPOINT MAGAZINE
A listing of advertisers in the Spring 2003 edition of AAIS Viewpoint
magazine appears at the end of today's Product
Advisory. For information on advertising in
Viewpoint, contact Debra Petges at debp@AAISonline.com.
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BULLETINS BY CATEGORY
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TERRORISM UPDATES - Bulletins listed by State
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ALASKA
Commercial Lines
Special Editions of Terrorism Exclusion Endorsements Available
Bulletin 03-0200
06 03 editions of certified and non-certified
terrorism exclusion endorsements distributed.
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ILLINOIS
Commercial Lines
Special Editions of Certified Terrorism Endorsements Available
Bulletin 03-0191
05 03 editions of certified and non-certified terrorism exclusion
endorsements distributed.
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COUNTRYWIDE / MULTIPLE LINES
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COUNTRYWIDE
Bulletin 03-0176
Introducing The AAIS Commercial Output Program - XL
A separate affiliation is
required for this new output program.
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COUNTRYWIDE
(2 Bulletins)
Fungi, Wet or Dry Rot, or Bacteria Limitation Endorsements and
Manual Supplements Filed
Dwelling Properties, Farm Properties, Personal & Premises
Liability
Bulletin 03-0205
Farmowners, Home-Based Business, Homeowners, Mobile-Homeowners
Bulletin 03-0206
Proposed effective dates Jan. 1, 2004.
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COMPLIANCE - Bulletins listed by State
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ILLINOIS
Agricultural Output, Commercial Output, Commercial Output - XL,
Commercial Inland Marine, Commercial Properties, Contractors &
Developers Output
Bulletin 03-0199
Revised State Amendatory Endorsement Filed
Minor changes were made under Cancellation and under Renewal
Notice. Proposed effective dates Oct. 1, 2003.
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PROGRAM UPDATE - Bulletins listed by Line of Insurance
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COMMERCIAL OUTPUT
Pennsylvania, Tennessee
Commercial Output Program - Company Action Updated
Bulletin 03-0207
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VIEWPOINT ADVERTISERS
Garvin-Allen Solutions Limited
http://www.garvin-allen.com
GeneralCologne Re www.gcr.com
Modotech, Inc. www.modotech.com
Swiss Re www.swissre.com
Savant Services, LC www.savantserviceslc.com
Town & Country Computer Services, LLC
http://www.tccs-inspro.com
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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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Subscribers to http://www.AAISdirect.com
may view and download these bulletins immediately.
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.
Feel free to forward the AAIS Product Advisory to anyone. 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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