(Photo: AAIS)
AAIS(the American Association of Insurance Services), anational non-profit insurance advisory group, has received approvalfor its new Florida Homeowners By-Peril Insurance Program from theFlorida Office of Insurance Regulation (FLOIR).
|With all of the unique insurance issues in Florida, from severeweather to continuous regulatory and litigation issues, AAISrepresentatives say their Florida Homeowners By-Peril Program willprovide a solution to problems some carriers face.
|About the program
The AAIS By-Peril program enables carriers to manage specificproperty exposures by the peril causing losses. The By-Peril ratingprogram uses algorithms and loss cost selections that account forunique elements required in Florida.
|AAIS says the newly approved program also includes afresh form set, designed specifically to address uniquerisks to Florida, primarily weather risks, including hurricanes,wind, water and sinkholes, as well as legal, regulatory and otherexposures specific to the Sunshine State.
|"Insurers navigating the Florida market need a dynamichomeowners policy with adaptable coverage and a strong rating toolto help price their product appropriately," John Kadous, VicePresident of AAIS Personal Lines and Auto said in a statement.
|"The all-new AAIS Homeowners By-Peril Program helps Membercarriers create and manage exposures from Florida's distinctweather conditions, and unique legal and regulatory environment, sothey can succeed in a competitive market."
|Related: Colorado approves AAIS's Cannabis BusinessownersPolicy program
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
