American Insurance Association - Explained
What is the American Insurance Assocation?
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Back To: INSURANCE & RISK MANAGEMENT
What is the American Insurance Association?
The American Insurance Association (AIA), which was incorporated in 1866, has functioned as a leading property and casualty insurance trade organization. As of April 2016, the American Insurance Association represents over 350 insurers who write over $140 billion in premiums yearly. The property and casualty insurance industry is seen as a part of the stock market's financial sector and includes various big insurance companies.
What Does the American Insurance Association Do?
The AIA represents companies on the federal, state, and international scope by supervising legislation on each level. Furthermore, it's a resource for the media, policymakers, and the public on specific insurance challenges. The AIA has local representation in all states, regional offices in major locations all over the country, as well as, headquarters in Washington DC. The AIA has contributed to highway safety, National Building Codes, and the enactment of the 2002 Terrorism Risk Insurance Act. As of the 19th of April, 2019, the AIA president and chief executive officer (CEO) is Leigh Ann Pusey. AIA's function is to safeguard and support its members. Its board of directors assembles industry resources in different insurance fields to help with certain issues. The member companies of the AIA jointly develop judicial, legislative and regulatory priorities. The AIA's members have online access to new laws, bulletins, and regulations. Members also gain access to the latest legal research tools, ad hoc studies, and data sources. The AIA also supports gives support to members in the court system via its legal department. It's also responsible for facilitating meetings between regulatory officials and member companies in situations whereby company-specific problems arise and require resolution. The AIA customizes daily reports relating to department bulletins and adopted regulations. Furthermore, it possesses a regulatory database, as well as, a supplemental Enhanced Legislative Search that enables its members to search for every insurance-based legislation by any combination of every 261 insurance problems in the AIA database. Another AIA-produced report pertains to newly enacted legislation by issue; it creates 28 specific reports by topic every 3 weeks. The AIA creates a state-level report for summarizing specific property, as well as casualty insurance issues, communications, and regulations.
American Insurance Association Research
The law department of the AIA produces surveys, charts, and other documents on the basis of jurisdiction. Based on a request from any member, the AIA makes the research available. Their research comprises compilations of laws, analysis of certain regulatory issues, and specialized policies. Additionally, the AIA compiles a research catalog for its members.
- What is insurance?
- Captive Agent
- Independent Agent
- Captive Insurance Company
- Combined Ratio
- Claims Adjuster
- Capital at Risk
- Assigned Risk
- Incurred But Not Reported
- Qualified Actuary
- Cession (Re-Insurance)
- Burning Cost Ratio
- What is an insurance contract?
- Accidental Means
- Anti-stacking Provisions
- What is an insurable interest?
- What are the common categorizations of insurance?
- National Association of Insurance Commissioners
- Insurance Regulatory Information System
- American Academy of Actuaries Definition
- American Association of Insurance Services Definition
- American Council of Life Insurance Definition
- American Insurance Association Definition
- American Risk and Insurance Association Definition
- LLoyd's of London
- Associate in Insurance Services (AIS) Definition
- Associate in Loss Control Management Definition
- Associate in Marine Insurance Management Definition
- Associate in Personal Insurance Definition
- Associate in Reinsurance (ARe) Definition
- Associate in Risk Management Definition
- Associate in Commercial Underwriting Definition
- Associate in Insurance Accounting and Finance Definition
- Associate in Surplus Lines Insurance Definition
- Chartered Insurance Professional Definition
- Chartered Life Underwriter Definition
- Chartered Property Casualty Underwriter Definition
- Vehicle insurancePrivate Passenger Auto Insurance Risk Profile
- Underinsured Motorist Coverage
- Uninsured Motorist Coverage
- Omnibus Clause
- Health Maintenance Organization
- Capitated Contract
- Point of Service Plan
- Children's Health Insurance Program
- Disability Insurance?
- Credit Disability Insurance
- Life Insurance?
- Cash Surrender Value
- Absolute Beneficiary
- Acceleration Life Insurance
- Accelerated Benefit
- Accelerated Option
- Accelerative Endowment
- Charitable Gift Life Insurance
- Incontestability Clause
- Waterfall Concept
- Assumed Interest Rate
- Clean Sheeting
- Hazard Insurance
- Homeowners, Renters, and Fire Insurance?
- Participating Community (Flood Insurance)
- Insurance Considerations for Business
- Business Liability Insurance
- Commercial General Liability
- Liability Risk Retention Act
- Excess Insurance and Umbrella Insurance Policy
- Business Interruption Insurance
- Key Person Insurance Definition
- Own-Occupation Policy
- Self-Funded Health Insurance Plan
- Basket Retention Policy
- Commercial Blanket Bond
- Alternative Risk Transfer Market Definition
- Commercial Property Casualty Market Index Survey
- What are the primary obligations of the insurer?
- Earned Premium
- Reservation of Rights Letter
- Collateral Source Rule
- What are the primary obligations of the insured?
- Insurance Premium
- Affidavit of Loss
- What is the general structure of an insurance contract?
- Ambiguity Principle
- Accommodation Line
- What are the common disputed provisions in an insurance contract?
- Absolute Exclusion
- All Risks Clause
- What is required for the termination of an insurance contract?
- Risk Management
- Professional Risk Manager
- Associate in Management (AIM)
- Financial Risk Manager
- Forecasting (Business)
- Objective Probability
- Unconditional Probability
- Enterprise Risk Management (ERM)
- Operational Risk
- Business Recovery Risk
- Political Risk
- Asset Protection
- Performance Bond
- Barra Risk Factor Analysis Definition
- Above Ground Risk (Mining Industry)
- Bumbershoot Policy (Maritime)
- Abandonment Clause (Boat or Vessel)
- Bobtail Liability Insurance (Trucking Industry)
- Anti-Indemnity Statute (Construction)