AAIS Files New Standardized Personal Auto Program Nationwide

September 22, 2016

American Association of Insurance Services (AAIS), a national not-for-profit insurance advisory organization governed by its member companies, announced the filing and approval of a new standardized Personal Auto Program available for the P/C insurance industry.

Alabama leads the states in approvals, with filings pending in Alaska, Arkansas, and Arizona. Filings in California, Colorado, Connecticut and District of Columbia to follow as the countrywide rollout continues.

AAIS said the new Personal Auto Form, with both base forms and a complete suite of mandatory and optional coverage endorsements, will renew competition in an insurance line undergoing transformative changes in driver behavior and automative technology. The form contains the most up-to-date language available in the P/C insurance marketplace today.

Key features include a countrywide standard base form, state amendatory endorsements, and all mandatory coverage endorsements. Also included are more than 60 optional coverage endorsements for use by the P/C industry. The new policy also has broader supplemental benefits such as: higher sublimits for certain expenses, including temporary transportation expenses, and a new benefit for car seat replacement.

John Kadous, vice president of Personal Lines for AAIS, said the product allows insurers to tailor the program as they see fit for particular markets. “It is also a complimentary program allowing insurers to offer a full suite of personal lines products based on AAIS forms,” he added.

AAIS will soon release a series of online, guided video tutorials demonstrating the benefits of the program and tailored to the specific needs of different users.

Established in 1931, AAIS serves the property & casualty insurance industry offering standardized policy forms, program rules, as well as loss costs for rate making for 34 lines of business, and research and data development.

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