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FLORIDA
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 shown below to indicate that coverage is provided for certified
terrorism loss. |
Posting date: 1/23/03,
4/8/03 (addl. info), 4/29/03 (rating factors revised), 12/2/04 (addl.
info.) |
|
AAIS commercial lines programs
filed on behalf of companies |
AAIS endorsement used when coverage for certified terrorism loss
is provided under the federal Terrorism Insurance Program |
Rating factor to accompany coverage endorsement
(New and Renewal policies only) |
| Agricultural Output |
CL 0600 12 02 |
.01001 |
| Artisans |
AP 0700 12 02 |
.01002 |
| Businessowners |
BP 0750 12 02 |
.01001 |
| Commercial Inland Marine (filed classes) |
Filing Not Required
(Use CL 0600 12 02) |
Filing Not Required
(Use .02751) |
| Commercial Liability |
GL 0250 12 02 |
.01002 |
| Commercial Output |
CL 0600 12 02 |
.01001 |
| Commercial Output
XL |
CL 0600 12 02 |
.01001 |
| Commercial Properties |
CL 0600 12 02 |
.01001 |
| Contractors & Developers Output |
CL 0600 12 02 |
.01001 |
| Crime |
CL 0600 12 02 |
.01001 |
| Farm Properties |
FL 0600 12 02 |
.01001 |
| Farmowners |
FO 0600 12 02 |
.01001 |
| Glass |
CL 0600 12 02 |
.01001 |
| Personal & Premises Liability (Farm Only) |
GL 0310 12 02 |
.01002 |
AAIS Effective Date:
1/21/03(original rating factors and endorsements); 6/1/03 (revised rating
factors) |
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| 1 original
factor was .0275; 2 original factor was .0300 |
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Filing Number(s):
(Coverage Endorsement) |
Program |
AAIS Filing No. |
State File No. |
| Agricultural Output, Artisans, Businessowners, Commercial Output,
and Contractors and Developers Output |
AAIS-2002-82COMC |
FCC 03-00739 |
| Commercial Output Program - XL |
AAIS-2003-64F |
FCC
03-15389 |
| Commercial Properties, Farm Properties, and Glass |
AAIS-2002-82CFC |
FCC 03-00743 |
| Commercial Liability and Personal and Premises Liability |
AAIS-2002-82CLC |
FCC 03-00742 |
| Crime |
AAIS-2002-82CRC |
FCC 03-00740 |
| Farmowners |
AAIS-2002-FOC |
FCC 03-00741 |
(Coverage
Rating Factor) |
Program |
AAIS Filing No. |
State File No. |
| Agricultural Output, Artisans, Businessowners, Commercial Output,
and Contractors and Developers Output |
AAIS-2002-82COMR |
FCC 03-00730 |
| Commercial Output Program - XL |
AAIS-2003-64R |
FCC
03-15387 |
| Commercial Properties, Farm Properties, and Glass |
AAIS-2002-82CFR |
FCC 03-00725 |
| Commercial Liability and Personal and Premises Liability |
AAIS-2002-82CLR |
FCC 03-00731 |
| Crime |
AAIS-2002-82CRR |
FCC 03-00734 |
| Farmowners |
AAIS-2002-82FOR |
FCC 03-00732 |
Company action: |
Endorsements (All lines except
Commercial Inland Marine) |
Companies that have granted AAIS filing
authority for forms and endorsements can adopt the endorsements without notifying the
insurance department. |
|
Rating Information (All lines except Commercial Inland Marine) |
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 (on new and renewal policies only) without
change. |
However, companies that choose to
depart from the AAIS filed rating information must notify the insurance department in
writing as soon as possible. |
Commercial Inland Marine Endorsements
and Rating Information |
Commercial Inland Marine is
deregulated. Therefore, no notification to the state is required to adopt or to non |
adopt. |
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Expedited Filing Transmittal |
None. Use the electronic IFile
system. |
Comments:
Disclosure Notices
NOTE: After 2/24/03, only AAIS Notice
CL 1045 12 02 is appropriate for use in Florida.
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 NOT required to place them on file. |
Separate Line Item
Disclosure Endorsement (CL 0605 02 03)
Effective Date:
2/11/03
Company Action:
Affiliated companies can adopt the endorsement, as filed, without taking any
filing
action.
Filing Numbers:
|
Program |
AAIS Filing No. |
State Filing No. |
| Agricultural Output, Artisans, Businessowners, Commercial Output,
and Contractors & Developers Output |
AAIS-2003-3PKG |
FCC 03-01538 |
| Commercial Output Program - XL |
AAIS-2003-64F |
FCC
03-15389 |
| Commercial Inland Marine (Filed Classes) |
Filing Not Required -- Exempt from Filing Requirements |
| Commercial Liability and Personal & Premises Liability (Farm
Only) |
AAIS-2003-3LIAB |
FCC 03-01540 |
| Commercial Properties, Farm Properties, and Glass |
AAIS-2003-3FIRE |
FCC 03-01539 |
| Crime |
AAIS-2003-3CR |
FCC 03-01541 |
| Farmowners |
AAIS-2003-3FO |
FCC 03-01542 |
AAIS commercial
lines advisory filings |
AAIS endorsement used when coverage is provided under the federal
Terrorism Insurance Program |
Rating factor to accompany
coverage endorsement |
Commercial Umbrella |
UM 0755 12 02 |
Refer to company |
AAIS Advisory Effective
Date:
1/21/03 |
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AAIS Filing Number(s):
AAIS-2002-84C (Commercial and Farm Umbrella) |
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State Filing Number(s):
FCC 03-00724 |
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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 submit
related rating information independently.
Expedited Filing Transmittal
None. Use the electronic IFile
system. |
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Comments:
Disclosure Notices
NOTE:
After 2/24/03, only AAIS Notice CL 1045 12 02 is appropriate for use in Florida.
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 NOT required to place them on
file. |
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Separate Line Item Disclosure Endorsement (CL
0605 02 03)
AAIS Filing No.:
AAIS-2003-4 (Commercial and Farm Umbrella)
State Filing No.:
FCC 03-01537
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. |
The following certified terrorism exclusion filings
were filed with the Florida Insurance Department
under prior approval provisions. Please see
the effective dates that the Department granted to each program:
Posting date:
1/23/03, 4/8/03 (addl. info.), 7/17/03 (addl. info.), 12/2/04
(addl. info.) |
AAIS commercial lines programs
filed on behalf of companies |
AAIS endorsement used when insured
declines terrorism coverage
(New and Renewal Policies Only) |
Fire following
rating factor for SFP states |
Agricultural Output |
CL 0610 12 02 |
N/A |
Artisans |
AP 0710 12 02 |
N/A |
Businessowners |
BP 0760 12 02 |
N/A |
Commercial Inland Marine (filed classes) |
CL 0610 12 02 |
N/A |
Commercial Liability |
GL 0260 12 02 |
N/A |
Commercial Output |
CL 0610 12 02 |
N/A |
Commercial Output XL |
CL
0610 12 02 |
N/A |
Commercial Properties |
CL 0610 12 02 |
N/A |
| Contractors & Developers Output |
CL 0610 12 02 |
N/A |
| Crime |
CL 0610 12 02 |
N/A |
| Farm Properties |
FL 0610 12 02 |
N/A |
| Farmowners |
FO 0610 12 02 |
N/A |
| Glass |
CL 0610 12 02 |
N/A |
| Personal & Premises Liability (Farm Only) |
GL 0320 12 02 |
N/A |
AAIS Effective
Date: |
|
Program |
Effective Date |
Agricultural Output, Artisans,
Businessowners, Commercial Output, and Contractors & Developers Output |
3/24/03 |
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Commercial Output Program - XL |
1/16/04 |
Commercial Inland Marine (Filed Classes)
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N/A -- No Filing Required
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Commercial Liability and Personal
& Premises Liability (Farm Only) |
3/25/03 |
| Commercial Properties, Farm Properties, and Glass |
3/25/03 |
| Crime |
3/24/03 |
| Farmowners |
3/21/03 |
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| Filing Number(s): |
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|
Program |
AAIS Filing No. |
State Filing No. |
| Agricultural Output, Artisans, Businessowners, Commercial Output,
and Contractors & Developers Output |
AAIS-2002-82COME |
FCC 03-00768 |
| Commercial Output Program - XL |
AAIS-2003-64F |
FCC 03-15389 |
| Commercial Inland Marine (Filed Classes) |
Filing Not Required -- Exempt from Filing Requirements |
| Commercial Liability and Personal & Premises Liability (Farm
Only) |
AAIS-2002-82CLE |
FCC 03-00775 |
| Commercial Properties, Farm Properties, and Glass |
AAIS-2002-82CFE |
FCC 03-00776 |
| Crime |
AAIS-2002-82CRE |
FCC 03-00771 |
| Farmowners |
AAIS-2002-82FOE |
FCC 03-00772 |
Filing Number(s): - Rules
Effective Date: 7/1/03
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|
Program |
AAIS Filing No. |
State Filing No. |
| Agricultural Output, Artisans, Businessowners, Commercial Output,
and Contractors & Developers Output |
AAIS-2002-83COMR |
FCC 03-07943 |
| Commercial Output Program - XL |
AAIS-2003-64R |
FCC 03-15387 |
| Commercial Inland Marine (Filed Classes) |
Filing Not Required -- Exempt from Filing Requirements |
| Commercial Liability and Personal & Premises Liability (Farm
Only) |
AAIS-2002-83CLR |
FCC 03-07960 |
| Commercial Properties, Farm Properties, and Glass |
AAIS-2002-83CFR |
FCC 03-07945 |
| Crime |
AAIS-2002-83CRR |
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