|
TEXAS
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. |
NEW AND RENEWAL BUSINESS
| Posting date: 1/23/03, 1/24/03,
2/11/03, 3/5/03 (addl. info), 3/19/03 (addl. info), 5/27/03 (COP-XL info added), 7/18/03
(addl. info), 11/11/03 (Fine Arts rule filing numbers added), 7/6/04 |
| AAIS
commercial lines programs filed for adoption by companies |
AAIS
endorsement used when certified terrorism coverage is provided under the federal Terrorism
Insurance Program |
Rating factor to
accompany coverage endorsement |
| Agricultural Output |
CL 0600 12 02 |
.0275 |
| Artisans |
AP 0700 12 02 |
.0300 |
| Businessowners |
BP 0750 12 02 |
.0275 |
| Commercial Inland Marine
(filed classes) |
CL 0600 12 02 |
.0275 |
| Commercial Liability |
GL 0250 12 02 |
.0300 |
| Commercial Output |
CL 0600 12 02 |
.0275 |
| Commercial
Output XL |
CL 0600
12 02 |
.0275 |
| Commercial Properties |
CL 0600 12 02 |
.0275 |
| Contractors & Developers
Output |
No Program Currently
On File |
| Crime |
CL 0600 12 02 |
.0275 |
| Farm Properties |
No Program Currently
On File |
| Farmowners |
FO 0600 12 02 |
.0275 |
| Glass |
CL 0600 12 02 |
.0275 |
| Personal & Premises
Liability (Farm Only) |
No Program Currently
On File |
| Electronic Data Processing
(Inland Marine Guide Class) |
CL 0600 12 02 |
.0275 |
| Fine Arts Floater (Inland
Marine Guide Class) |
CL 0600 12 02 |
.0275 |
| Commercial Umbrella |
UM 0755 12 02 |
N/A |
|
|
|
| AAIS Effective Date: 1/30/03 |
| (Coverage Endorsements) |
| Program |
AAIS Filing Number |
State Filing Number(s) |
| Agricultural Output |
AAIS-2002-82AGC |
TDI 9212434225; Link No. 66715 |
| Artisans |
AAIS-2002-82APC |
TDI 9212434209; Link No. 66705 |
| Businessowners |
AAIS-2002-82BPC |
TDI 9212434248; Link No. 66734 |
| Commercial Inland Marine (Filed Classes) |
AAIS-2002-82CIMC |
TDI 9212434232; Link No. 66722 |
| Commercial Liability |
AAIS-2002-82CLC |
TDI 9212434190; Link No. 66695 |
| Commercial Output |
AAIS-2002-82COPC |
TDI 9212434223; Link No. 66713 |
| Commercial Output XL |
Filing not required |
Not Applicable |
| Commercial Properties |
AAIS-2002-82CPC |
TDI 9212434227; Link No. 66717 |
| Contractors & Developers Output |
No Program Currently On File |
| Crime |
AAIS-2002-82CRC |
TDI 9212434257; Link No. 66739 |
| Farm Properties |
No Program Currently On File |
| Farmowners |
AAIS-2002-82FOC |
TDI 9212434256; Link No. 66738 |
| Glass |
AAIS-2002-82GSC |
TDI 9212434229; Link No. 66719 |
| Personal & Premises Liability (Farm
Only) |
No Program Currently On File |
| Guide Class EDP |
AAIS-2002-82EDPC |
TDI 9212434231; Link No. 66721 |
| Guide Class FAF |
AAIS-2002-82FAC |
TDI 9212434234; Link No. 66724 |
| Commercial Umbrella |
AAIS-2002-84CUPC |
TDI 9212434193; Link No. 66698 |
|
| (Rules) |
| Program |
AAIS Filing Number |
State Filing Number(s) |
| Agricultural Output |
AAIS-2002-83AGCERTR |
TDI 9212439257; Link No. 68933 |
| Artisans |
AAIS-2002-83APCERTR |
TDI 9212439261; Link No. 68935 |
| Businessowners |
AAIS-2002-83BPCERTR |
TDI 9212439262; Link No. 68936 |
| Commercial Inland Marine
(Filed Classes) |
AAIS-2002-83CIMCERTR |
TDI 9212439222; Link No. 68915 |
| Commercial Liability |
AAIS-2002-83CLCERTR |
TDI 9212439270; Link No. 68943 |
| Commercial Output |
AAIS-2002-83COPCERTR |
TDI 9212439263; Link No. 68937 |
| Commercial Output XL |
AAIS-2002-83COPXLCERTR |
TDI 9212439265; Link No. 68939 |
| Commercial Properties |
AAIS-2002-83CPCERTR |
TDI 9212439225; Link No. 68918 |
| Contractors &
Developers Output |
No Program Currently
On File |
| Crime |
AAIS-2002-83CRCERTR |
TDI 9212439223; Link No. 68916 |
| Farm Properties |
No Program Currently
On File |
| Farmowners |
AAIS-2002-83FOCERTR |
TDI 9212439234; Link No. 68920 |
| Glass |
AAIS-2002-83GSCERTR |
TDI 9212439221; Link No. 68914 |
| Personal & Premises
Liability (Farm Only) |
No Program Currently
On File |
| Guide Class
EDP |
AAIS-2002-83EDP |
TDI
9212443058; Link No. 70793 |
| Guide Class FAF |
AAIS-2002-83FA |
TDI 9212443056; Link No. 70791 |
|
|
| (Rating Information) |
| AAIS Effective Date: 1/30/03 |
| Program |
AAIS Filing Number |
State Filing Number(s) |
| Agricultural Output |
AAIS-2002-82AGR-1 |
TDI 9212436180; Link No. 67611 |
| Artisans |
AAIS-2002-82APR-1 |
TDI 9212436183; Link No. 67613 |
| Businessowners |
AAIS-2002-82BPR-1 |
TDI 9212436186; Link No. 67616 |
| Commercial Inland Marine (Filed Classes) |
AAIS-2002-82CIMR-1 |
TDI 9212436040; Link No. 67536 |
| Commercial Liability |
AAIS-2002-82CLR-1 |
TDI 9212436056; Link No. 67548 |
| Commercial Output |
AAIS-2002-82COPR-1 |
TDI 9212436185; Link No. 67615 |
| Commercial Output XL |
AAIS-2002-82COPXLR |
9212438882; Link No. 68731 |
| Commercial Properties |
AAIS-2002-82CPR-1 |
TDI 9212436148; Link No. 67592 |
| Contractors & Developers Output |
No Program Currently On File |
| Crime |
AAIS-2002-82CRR-1 |
TDI 9212436150; Link No. 67594 |
| Farm Properties |
No Program Currently On File |
| Farmowners |
AAIS-2002-82FOR-1 |
TDI 9212436149; Link No. 67593 |
| Glass |
AAIS-2002-82GSR-1 |
TDI 9212436146; Link No. 67590 |
| Personal & Premises Liability (Farm Only) |
No Program Currently On File |
| Guide Class EDP |
AAIS-2002-82EDPR-1 |
TDI 9212436042; Link No. 67538 |
| Guide Class FAF |
AAIS-2002-82FAR-1 |
TDI 9212436043; Link No. 67539 |
| Commercial Umbrella |
Not Applicable |
| Company Action: |
| Endorsements (All programs listed except Inland Marine
Guide and Commercial Output - XL) |
| Affiliated companies can adopt the endorsements by establishing an
effective date and submitting the necessary reference filing(s) to the Texas
Department of Insurance. |
| |
| In addition, due to special Texas guidelines, the AAIS Farmowners and
Farm Umbrella endorsements were placed on file for use with commercial farm risks only
(i.e., filed as commercial multi-peril and used when form GL-610 or UM 0610 is attached).
Companies will need to file separate adoptions if they also wish to use the endorsements
when writing personal farm risks (with form GL-2 or UM 0002). |
| |
| Endorsements (Commercial Output-XL) |
| Affiliated companies can adopt the endorsements without notifying the
Texas Department of Insurance. Forms and endorsements used with policies for "large
risks" are not subject to filing requirements, in accordance with Article 5, 13-2;
Section 8(f) of the Insurance Code. |
| Endorsements (Guide Classes - Electronic Data Processing
and Fine Arts Floater Only ) |
| Affiliated companies can adopt the endorsements by establishing an
effective date and submitting the necessary reference filing(s) to the Texas
Department of Insurance. |
| Endorsements (All Guide Classes Other Than Electronic Data
Processing and Fine Arts Floater) |
| There is no requirement to file the "non-regulated classes",
as defined by the Texas Department of Insurance, when writing coverage for these classes
on a monoline basis. Companies affiliated for AAIS's Inland Marine Guide (non-filed
classes) can adopt the endorsements for use with monoline policies, effective
immediately, without notifying the Insurance Department or taking any additional filing
action. |
| |
| Endorsements for non-regulated Inland Marine Guide classes written
as part of a package policy must be filed with, and approved by, the Texas Department
of Insurance. Refer to Texas statute §5.9101.(f) for additional information regarding
filing requirements. |
| |
| |
| Rating Information and Rules (All programs listed except
Inland Marine Guide and Umbrellas) |
| Affiliated companies can adopt the rating information and/or rules by
establishing an effective date and submitting the necessary reference filing(s) to
the Texas Department of Insurance. However, the following guidelines must also be followed
for rating information filings: |
| |
| 1. Companies must attest that no rate changes have been taken since
9/11/2001 to account for terrorism or an increased exposure to terrorism. |
| |
| 2. Companies must attest that increased costs for reinsurance as a
result of terrorism or an increased exposure to terrorism have not been passed on to their
policyholders through increased rates, deviations, loss costs, or loss cost multipliers. |
| |
| 3. If a company has implemented any rate change(s) since 9/11/2001,
they must provide the date(s) and amount(s) of their rate change(s) along with their
attestations from the above items. |
| |
| 4. Companies filing surcharges may be required to submit actuarial
support for the surcharges. |
| |
| |
| Rating Information (Commercial and Farm Umbrella Programs) |
| Companies must submit related rating information independently. When
doing so, the following guidelines must be followed: |
| |
| 1. Companies must attest that no rate changes have been taken since
9/11/2001 to account for terrorism or an increased exposure to terrorism. |
| |
| 2. Companies must attest that increased costs for reinsurance as a
result of terrorism or an increased exposure to terrorism have not been passed on to their
policyholders through increased rates, deviations, loss costs, or loss cost multipliers. |
| |
| 3. If a company has implemented any rate change(s) since 9/11/2001,
they must provide the date(s) and amount(s) of their rate change(s) along with their
attestations from the above items. |
| |
| 4. Companies filing surcharges may be required to submit actuarial
support for the surcharges. |
| Rating Information and Rules (Inland Marine Guide -
Electronic Data Processing and Fine Arts Floater Classes Only) |
| Affiliated companies can adopt the rating information and/or rules by
establishing an effective date and submitting the necessary reference filing(s) to
the Texas Department of Insurance. However, the following guidelines must also be followed
for rating information filings: |
| |
| 1. Companies must attest that no rate changes have been taken since
9/11/2001 to account for terrorism or an increased exposure to terrorism. |
| |
| 2. Companies must attest that increased costs for reinsurance as a
result of terrorism or an increased exposure to terrorism have not been passed on to their
policyholders through increased rates, deviations, loss costs, or loss cost multipliers. |
| 3. If a company has implemented any rate change(s) since 9/11/2001,
they must provide the date(s) and amount(s) of their rate change(s) along with their
attestations from the above items. |
| |
| 4. Companies filing surcharges may be required to submit actuarial
support for the surcharges. |
| |
| |
| Expedited Filing Transmittal |
| Not applicable. Companies must include all submission forms
required by the Texas Department of Insurance "Property and Casualty Filings Made
Easy" Manual as they relate to advisory organization form filings. |
| Comments: Disclosure Notices
NOTE: The only AAIS notice that is appropriate for use in Texas after February 24,
2003 is CL 1045 12 02.
Affiliated companies can use AAIS policyholder notice CL 1045 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 for informational purposes. |
| The following certified terrorism exclusion filings have
been approved by the Texas Insurance Department: |
| Posting date: 1/23/03, 2/11/03 (addl. info), 5/27/03
(COP-XL info added) |
| AAIS commercial lines
programs filed for adoption by companies |
AAIS endorsement used when
insured declines terrorism coverage (New and Renewal Policies Only) |
AAIS Filing No. |
State Filing No. |
| Agricultural Output |
CL 0610 12 02 |
AAIS-2002-82AGE |
TDI 9212434228; Link No. 66718 |
| Artisans |
AP 0710 12 02 |
AAIS-2002-82APE |
TDI 9212434217; Link No. 66710 |
| Businessowners |
BP 0760 12 02 |
AAIS-2002-82BPE |
TDI 9212434244; Link No. 66730 |
| Commercial Inland Marine (filed classes) |
CL 0610 12 02 |
AAIS-2002-82CIME |
TDI 9212434233; Link No. 66723 |
| Commercial Liability |
GL 0260 12 02 |
AAIS-2002-82CLE |
TDI 9212434191; Link No. 66696 |
| Commercial Output |
CL 0610 12 02 |
AAIS-2002-82COPE |
TDI 9212434224; Link No. 66714 |
| Commercial Output XL |
CL 0610 12 02 |
Filing Not Required/Not
Applicable |
| Commercial Properties |
CL 0610 12 02 |
AAIS-2002-82CPE |
TDI 9212434226; Link No. 66716 |
| Contractors & Developers Output |
No Program
Currently On File |
| Crime |
CL 0610 12 02 |
AAIS-2002-82CRE |
TDI 9212434255; Link No. 66737 |
| Farm Properties |
No Program Currently On File |
| Farmowners |
FO 0610 12 02 |
AAIS-2002-82FOE |
TDI 9212434252; Link No. 66736 |
| Glass |
CL 0610 12 02 |
AAIS-2002-82GSE |
TDI 9212434236; Link No. 66726 |
| Personal & Premises Liability (Farm Only) |
No Program
Currently On File |
| Electronic Data Processing (Inland Marine Guide Class) |
CL 0610 12 02 |
AAIS-2002-82EDPE |
TDI 9212434230; Link No. 66720 |
| Fine Arts Floater (Inland Marine Guide Class) |
CL 0610 12 02 |
AAIS-2002-82FAE |
TDI 9212434235; Link No. 66725 |
| Commercial Umbrella |
UM 0765 12 02 |
AAIS-2002-84CUPE |
TDI 9212434192; Link No. 66697 |
| AAIS Effective Date: Filed on 1/17/03; Effective on
1/30/03 |
| Company action: Endorsements (All programs listed
except Commercial Output - XL and Inland Marine Guide)
Affiliated companies can adopt the endorsements by establishing an
effective date and submitting the necessary reference filing(s) to the Texas
Department of Insurance.
Endorsements (Commercial Output - XL)
Affiliated companies can adopt the endorsements without notifying the
Texas Department of Insurance. Forms and endorsements used with policies for "large
risks" are not subject to filing requirements, in accordance with Article 5.13-2;
Section 8(f) of the Insurance Code.
Endorsements (Guide Classes - Electronic Data Processing
and Fine Arts Floater Only )
Affiliated companies can adopt the endorsements by establishing an
effective date and submitting the necessary reference filing(s) to the Texas
Department of Insurance.
Endorsements (All Guide Classes Other Than Electronic Data
Processing and Fine Arts Floater)
There is no requirement to file the "non-regulated classes",
as defined by the Texas Department of Insurance, when writing coverage for these classes
on a monoline basis. Companies affiliated for AAIS's Inland Marine Guide (non-filed
classes) can adopt the endorsements for use with monoline policies, effective
immediately, without notifying the Insurance Department or taking any additional filing
action.
Endorsements for non-regulated Inland Marine Guide classes written as
part of a package policy must be filed with, and approved by, the Texas Department of
Insurance. Refer to Texas statute §5.9101.(f) for additional information regarding filing
requirements.
Expedited Filing Transmittal
Not applicable. Companies must include all submission
forms required by the Texas Department of Insurance "Property and Casualty Filings
Made Easy" Manual as they relate to advisory organization form filings. |
| Comments: Disclosure Notices
NOTE: The only AAIS Notice that will be suitable for use in Texas
after 2/24/03 is CL 1045 12 02.
Affiliated companies can use AAIS policyholder notice CL 1045 12 02,
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 for informational
purposes. |
| Separate Line Item Disclosure Endorsement (CL 0605
02 03) |
| Filing No.: |
| Program |
AAIS Filing Number |
State Filing Number(s) |
| Agricultural Output |
AAIS-2003-3AG |
TDI 9212434997; Link No. 67107 |
| Artisans |
AAIS-2003-3AP |
TDI 9212435043; Link No. 67130 |
| Businessowners |
AAIS-2003-3BP |
TDI 9212435060; Link No. 67137 |
| Commercial Inland Marine (Filed Classes) |
AAIS-2003-3CIM |
TDI 9212434977; Link No. 67094 |
| Commercial Liability |
AAIS-2003-3CL |
TDI 9212435165; Link No. 67163 |
| Commercial Output |
AAIS-2003-3COP |
TDI 9212435018; Link No. 67114 |
| Commercial Output XL |
Filing Not Required/Not Applicable |
| Commercial Properties |
AAIS-2003-3CP |
TDI 9212435019; Link No. 67115 |
| Contractors & Developers Output |
No Program Currently On File |
| Crime |
AAIS-2003-3CR |
TDI 9212435336; Link No. 67233 |
| Farm Properties |
No Program Currently On File |
| Farmowners |
AAIS-2003-3FO |
TDI 9212435021; Link No. 67117 |
| Glass |
AAIS-2003-3GS |
TDI 9212434976; Link No. 67093 |
| Personal & Premises Liability (Farm Only) |
No Program Currently On File |
| Guide Class EDP |
AAIS-2003-3EDP |
TDI 9212434979; Link No. 67096 |
| Guide Class FAF |
AAIS-2003-3FA |
TDI 9212434981; Link No. 67098 |
| Commercial Umbrella |
AAIS-2003-4CUP |
TDI 9212435164; Link No. 67162 |
| Effective Date: 2/11/03 |
| Company Action: |
| Endorsements (All programs listed except
Commercial Output - XL and Inland Marine Guide) |
| Affiliated companies can adopt the endorsements by
establishing an effective date and submitting the necessary reference filing(s) to
the Texas Department of Insurance. |
| Endorsements (Commercial Output - XL) |
| Affiliated companies can adopt the endorsements without
notifying the Texas Department of Insurance. Forms and endorsements used with policies for
"large risks" are not subject to filing requirements, in accordance with Article
5.13-2; Section 8(f) of the Insurance Code. |
| Endorsements (Guide Classes - Electronic Data
Processing and Fine Arts Floater Only ) |
| Affiliated companies can adopt the endorsements by
establishing an effective date and submitting the necessary reference filing(s) to
the Texas Department of Insurance. |
| Endorsements (All Guide Classes Other Than Electronic Data
Processing and Fine Arts Floater) |
| There is no requirement to file the "non-regulated classes",
as defined by the Texas Department of Insurance, when writing coverage for these classes
on a monoline basis. Companies affiliated for AAIS's Inland Marine Guide (non-filed
classes) can adopt the endorsements for use with monoline policies, effective
immediately, without notifying the Insurance Department or taking any additional filing
action. |
| |
| Endorsements for non-regulated Inland Marine Guide classes written
as part of a package policy must be filed with, and approved by, the Texas Department
of Insurance. Refer to Texas statute §5.9101.(f) for additional information regarding
filing requirements. |
Regarding "non-certified" commercial losses
Non-certified terrorism losses are all commercial losses from acts of terrorism that
are not certified as such by the Secretary of the Treasury, and thus not covered by the
federal reinsurance program. These include, but are not necessarily limited to, acts
inspired, directed, and/or carried out by domestic U.S. groups or individuals.
-- Filing Of Non-Certified Materials Is Not Anticipated In This State --
| Posting date: |
| Filings Submitted for Proposed Effective Date of: |
| AAIS commercial lines programs filed on
behalf of companies |
AAIS endorsement used to
exclude coverage for non-certified terrorism losses |
AAIS endorsement used to
exclude coverage for nuclear, biological, or chemical terrorism losses |
| Agricultural Output |
|
|
| Artisans |
|
|
| Businessowners |
|
|
| Commercial Inland Marine (filed classes) |
|
|
| Commercial Liability |
|
|
| Commercial Output |
|
|
| Commercial Output XL |
|
|
| Commercial Properties |
|
|
| Contractors & Developers Output |
|
|
| Crime |
|
|
| Farm Properties |
|
|
| Farmowners |
|
|
| Glass |
|
|
| Personal & Premises Liability (Farm Only) |
|
|
| AAIS Effective Date: |
| AAIS Filing Number(s): |
| State Filing Number(s): |
| Company action: |
| Comments: |
| AAIS commercial lines advisory filings |
AAIS endorsement number
for excluding coverage for non-certified terrorism losses |
AAIS endorsement used to
exclude coverage for nuclear, biological, or chemical terrorism losses |
| Commercial Umbrella |
|
|
| Farm Umbrella |
|
|
| AAIS Advisory Effective Date: |
| AAIS Filing Number(s): |
| State Filing Number(s): |
| Company action: |
| Comments: |
BACK TO STATE LIST
|
|
