Organization: AMERICAN ASSOCIATION OF INSURANCE
Mission: TO PROMOTE THE INTERESTS OF AFFILIATED AND ORGANIZED GROUPS OF INSURANCE COMPANIES.
Activities: AAIS IS AN ADVISORY ORGANIZATION AND A STATISTICAL AGENT WORKING ON BEHALF OF OVER 700 PROPERTY AND CASUALTY INSURANCE COMPANIES. AAIS DEVELOPS, MAINTAINS AND UPDATES MANUALS OF RULES AND RATING PROCEDURES FOR APPROXIMATELY 34 INSURANCE PROGRAM LINES AND FILES THOSE PROGRAMS WITH ALL STATE INSURANCE DEPARTMENTS ON BEHALF OF OUR MEMBER COMPANIES. FOR THE FISCAL YEAR ENDED JUNE 30, 2020, AAIS MADE OVER 610 FILINGS WITH INSURANCE DEPARTMENTS TO ADDRESS PRODUCT UPDATES AND REVISIONS, AS WELL AS EVOLVING REGULATORY COMPLIANCE ISSUES.
AAIS COLLECTS COMPANY INSURANCE DATA ON BEHALF OF STATE REGULATORS AND REPORTS SUCH DATA TO THE REGULATORS IN ORDER TO SATISFY MEMBER COMPANIES I STATUTORY REPORTING REQUIREMENTS. FOR THE FISCAL YEAR ENDED JUNE 30, 2020, AAIS PROCESSED APPROXIMATELY 2,600,000 CLAIMS RECORDS WITH TOTAL LOSS ESTIMATES OF APPROXIMATELY $117.3 BILLION. AAIS ALSO COLLECTS THIRD PARTY DATA FROM A VARIETY OF PUBLIC AND PROPRIETARY DATA SOURCES TO REFINE RISK MANAGEMENT ADVISORY SERVICES. THIS INCLUDES DATA ON ECONOMIC ACTIVITY, FIRE INCIDENTS, REGIONAL EXPOSURE ATTRIBUTES, WEATHER, CRIME, CENSUS INFORMATION, MARKET SHARE INFORMATION, FIRE STATION AND FIRE HYDRANT LOCATION INFORMATION. OVER 227 MLLION RECORDS OF RELATED THIRD PARTY DATA WERE UTILIZED FOR VARIOUS ADVISORY SUPPORT ACTIVITIES DURING FISCAL YEAR ENDED JUNE 30, 2020.
AAIS DISTRIBUTES INFORMATION TO MEMBER COMPANIES VIA BULLETINS WHICH INCLUDE INSTRUCTIONS ON ADOPTING NEWLY-FILED RULES AND FORMS AND MANDATORY ENDORSEMENTS. FOR THE FISCAL YEAR ENDED JUNE 30, 2020, AAIS DISTRIBUTED ALMOST 500 RELATED BULLETINS TO MEMBER COMPANIES.
NTEE category: Mutual & Membership Benefit