AAIS Endorsements Address Mold Claims
NU Online News Service, May 22, 11:48 a.m. EST?The American Association of Insurance Services said that the policy form language it has developed for insurers to use in excluding and limiting losses arising from mold has been done on a strictly advisory basis.
The Wheaton, Ill.-based AAIS develops policy forms used by more than 600 property-casualty insurers. Joe Harrington, a representative for the group, said the latest language is only advisory because many states have yet to come up with a regulatory scheme for mold damage detailing what policies can say about how much can be excluded and how much limited coverage must be provided.
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