American Association of Insurance Services Expands Insurance Services

The American Association of Insurance Services (AAIS) is a not-for-profit organization that has been a leading provider of insurance data and analytics for over 100 years.

AAIS has a long history of innovation, and its expansion of insurance services is a testament to its commitment to the industry.

One of the key ways AAIS has expanded its services is through its development of new insurance products, such as its catastrophe models that help insurers assess and manage risk.

The American Association of Insurance Services (AAIS) was founded in 1936. It's a not-for-profit organization that provides valuable resources to insurance companies.

AAIS serves the Property & Casualty (P&C) insurance industry, making it a crucial player in this sector. It's governed by its Member insurance carriers, who work together to ensure the organization's success.

AAIS delivers high-quality advisory solutions, including policy forms, rating guidelines, and data management capabilities. This helps insurance companies streamline their operations and make informed decisions.

More than 700 insurance companies of all sizes rely on AAIS for information and support. This is a testament to the organization's reputation and the value it provides to the industry.

AAIS is not an insurance company itself, but rather a resource that helps insurance companies succeed. Its consultative and unbiased approach sets it apart from other organizations in the industry.

AAIS was established in 1936 and serves the Property & Casualty (P&C) insurance industry as a national not-for-profit advisory organization.

Their consultative and unbiased approach has earned them a reputation for unrivaled customer service and innovative technical capabilities.

Hurricane Ian Fallout and Inflation is a pressing concern for the insurance industry. The enormous amount of uninsured loss from Hurricane Ian will lead to a "veritable swamp" of trial lawyers waiting to sue the insurance industry.

The impact of Hurricane Ian's destruction will be felt for a long time. This could result in a significant increase in litigation against insurance companies.

Inflation is another major talking point at AAIS Pulse. The rising cost of living is affecting everyone, and insurance companies are no exception.

As inflation continues to rise, insurance companies may see an increase in claims costs. This could lead to higher premiums for consumers.

The expert at AAIS Pulse warns that the insurance industry will face a "swamp" of lawsuits. This is a serious concern for insurance companies and consumers alike.

Florida has approved a new predictive model for fire risk assessment. This approval comes from the Florida Office of Insurance Regulation, which has given the green light to the AAIS Fire Risk Model.

The AAIS Fire Risk Model is a significant development in the insurance industry, and it's designed to help assess fire loss and mitigation risks. This model is a result of the hard work and expertise of the American Association of Insurance Services (AAIS).

The approval was given on December 23, 2020, marking a notable milestone for AAIS and the insurance industry as a whole.

The American Association of Insurance Services (AAIS) received approval from six state insurance departments for its health-emergency policy endorsement.

This endorsement clarifies coverage and cancellation provisions in the wake of a health emergency, providing much-needed guidance to policyholders and insurers alike.

The endorsement was approved by state insurance departments, showing a collaborative effort to address the pandemic's impact on the insurance industry.

The six states that approved the endorsement are not specified in the article, but it's a significant step forward in providing clarity and stability to the industry during uncertain times.

AAIS's endorsement aims to provide a standardized approach to handling health emergencies, making it easier for insurers to navigate the complex landscape.

By having a clear and consistent framework, insurers can better serve their policyholders and provide the necessary support during a crisis.

AAIS, Berkley Re Solutions Launch Cyber Protection for Families.

AAIS and Berkley Re Solutions have launched a new product called Family Cyber Protection Solution. This product is designed to protect consumers from cyber threats.

The launch of Family Cyber Protection Solution happened on May 28, 2020. This date is significant as it marks the introduction of a new product to help families safeguard themselves online.

Berkley Re Solutions is a company within the Berkley Company. Berkley Re Solutions is working with AAIS to provide a solution to families who are concerned about cyber threats.

The Family Cyber Protection Solution is a product that consumers can subscribe to. By subscribing, consumers will receive automatic AAIS Online alerts, sent straight to their inbox.

AAIS has expanded its admitted Cannabis Businessowners Policy program to Nevada. The Nevada Division of Insurance approved AAIS's CannaBOP on December 24, 2019. This move allows cannabis businesses in Nevada to access a more comprehensive insurance solution.

The expansion of CannaBOP in Nevada is a significant development for the state's cannabis industry. The policy was specifically designed to meet the unique needs of cannabis businesses.

On January 8, 2020, AAIS announced the expansion, marking a major milestone for the company.

The American Association of Insurance Services (AAIS) provides information to more than 700 insurance companies of all sizes.

AAIS collects data from participating insurance companies to provide insurance companies with information on claims that insurers have paid in the past, known as loss histories.

This data helps insurance companies decide how much to charge consumers in premiums and what types of perils to cover.

AAIS also provides insurance companies with statistical information about property, general liability, and automobile insurance.

This information helps insurance companies decide what new insurance products to offer and what states to offer insurance in.

AAIS offers model forms to homeowners insurance companies that describe what the homeowners policy covers, what it excludes, and whether it provides actual cash value, replacement cost, modified replacement cost, or functional replacement after a loss.

These model forms are updated as changes occur in the market, such as changes in exposure, claims, and lawsuits.

AAIS works to identify new sources of risk to insurance companies before widespread claims occur, so insurers can choose not to cover these risks or to charge more to cover them.

The AAIS provides insurance companies with information on claims that insurers have paid in the past, which helps them decide how much to charge consumers in premiums.

This information also helps insurance companies know that the premiums they're charging are high enough to reflect the risks that they're covering and high enough to allow them to pay out their customers' claims.

AAIS is licensed as a statistical agent in 51 jurisdictions for all types of property and casualty lines.

They collect data that helps its members meet regulatory statistical reporting responsibilities, serving as an intermediary between carriers and insurance regulators.

The American Association of Insurance Services (AAIS) was founded in 1936 and has been serving the property and casualty insurance industry ever since. AAIS is a national not-for-profit advisory organization governed by its member insurance carriers.

AAIS provides high-quality advisory solutions, including policy forms, rating guidelines, and data management capabilities for various types of insurance. This includes commercial lines, inland marine, farm & agriculture, auto, and personal lines insurers.

Founded as The Mutual Marine Conference in 1936, AAIS has undergone several changes over the years. In 1947, it became the Transportation Insurance Rating Bureau (TIRB), and in 1975, it broadened its scope to include all insurance products.

AAIS is a 501(c)(6) non-profit organization, incorporated in Delaware in 1984. This designation highlights its commitment to serving the insurance industry without prioritizing profits.

In 2018, AAIS collaborated with IBM to introduce openIDL, the first open blockchain platform focused on collecting and sharing statistical data between insurance carriers and regulators. This innovative approach has the potential to significantly impact the insurance industry.