AAIS Hosts Web Seminar On I.D. Fraud Policy

NU Online News Service, Oct. 16, 1:50 p.m.EST?The American Association of Insurance Services willgive a 40-minute Web seminar on its new language for personal linespolicy endorsements for identity fraud expense coverage.

The Wheaton, Ill.-based AAIS said the seminar will be given at11 a.m. Eastern Standard Time on Oct. 29, for its homeowners,farmowners, and mobile-homeowners programs. The presentation willdeal with endorsements, rules, and rating information filed forthose lines.

The identity fraud filings, which carry a proposed effectivedate of March 1, 2003, would allow insurers using those lines tocover the expenses that individuals incur when rectifying theirpersonal affairs after their personal identity information is usedby others for fraudulent purposes.

At 11 a.m. Eastern time on Oct. 30, non-AAIS companies, as wellas AAIS affiliates for lines other than those listed above, can sitin on a session describing endorsements, rules, and ratinginformation that are essentially equivalent to those filed for AAISlines. Companies are invited to use them free of charge, but wouldhave to file them on their own, AAIS said.

The association said that with these endorsements, allproperty-casualty insurers will have access to standardized formsfor covering a growing personal exposure that, to date, has beeninsured by a few companies using proprietary forms.

The seminars, offered free of charge, will feature Susan Luecke,AAIS director of personal lines, who will provide background onidentity fraud expense coverage and describe the endorsement shehas developed for providing the coverage.

Kim Ward, AAIS chief actuary, will review some of thestatistical information she drew upon to develop loss-cost ratinginformation for the coverage.

Participants will be able to see and hear the presentation overtheir own computers and telephones, and will have an opportunity toask questions, AAIS said.

The new AAIS identity fraud endorsements include costs forproducing, notarizing, and distributing documents; telephonecharges; research fees; loan reapplication fees; and attorneysfees. Lost earnings are covered up to $250 a day per insured, or$5,000 total.

Enrolment for the Web seminars can be done online by going towww.AAISonline.com and clicking on the link at the top of the homepage.

Other information is available by calling 800/564-AAIS or bycontacting Joyce Tignino, vice president of marketing and industryrelations, at [email protected].