AAIS Terror Act Endorsements, Notices Online
NU Online News Service, Dec. 11, 4:17 p.m. EST?American Association of Insurance Services is making its new commercial lines endorsements and disclosure notices publicly available to all insurers on its Web site, www.aaisonline.com.
The information, which has been developed to comply with the Terrorism Risk Insurance Act of 2002, has been posted on the Wheaton, Ill.-based AAIS' open Web site, where all insurance companies can view it whether they are members or not.
"AAIS is preparing a comprehensive set of materials and communications to help property-casualty companies comply with the new federal terrorism reinsurance law and related state bulletins," said Joseph Harrington, communications manager for AAIS.
"Given that timely communication is especially important on this matter, we are posting many of these materials on our public Web site, so that companies can immediately access them and take actions that are needed.
"Companies are urged to consult our Web site on a daily basis to look for new information being posted," Mr. Harrington said.
He added that companies not affiliated with AAIS, if they decide to use the copyrighted materials, should contact the association first, at (800) 564-AAIS.
By clicking on the icon on the AAIS homepage that reads "Terrorism: The New Rules," companies can view the latest postings, including:
? A product bulletin that summarizes and explains the new federal terrorism reinsurance law, the distinction between "certified" and "non-certified" terrorism losses, disclosure notices to policyholders, rating information, and endorsements.
? Bulletin attachments that include policyholder notices, endorsements addressing losses from certified acts of terrorism, and endorsements addressing losses from non-certified acts of terrorism.
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