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what is American Association insurances

American Association Insurances. is a national insurance advisory organization in the United States. Among other things, is one of the two major “rating bureaus” in the United States, along with the Insurance Services Office. Rating bureaus publish standardized insurance policy forms and prices that insurance company customers use in their business. This expedites compliance and allows the policyholder customers to compare policy forms more easily. Companies which do not use the standardized form exactly will often use it as a base with subtle modifications.

It was founded in the 1930s as the Chicago-based Transportation Insurance Rating Bureau focused exclusively on inland marine insurance. In 1975 its name was changed and scope was broadened to include all insurance product.

Among other things, is one of the two major “rating bureaus” in the United States, along with the Insurance Services Office. Rating bureaus publish standardized insurance policy forms and prices that insurance company customers use in their business. This expedites compliance and allows the policyholder customers to compare policy forms more easily. Companies which do not use the standardized form exactly will often use it as a base with subtle modifications.

It was founded in the 1930s as the Chicago-based Transportation Insurance Rating Bureau focused exclusively on inland marine insurance. In 1975 its name was changed and scope was broadened to include all insurance product.

American Association of Insurance Services
Type
Privately held
Founded 1975
Headquarters Lisle, Illinois
Area served
United States
Key people
Edmund J. Kelly, CEO
Products Insurance
Website www.aaisonline.com

is an insurance industry trade association representing about 300 insurance companies that provide property insurance and/or casualty insurance in the United States?

Founded in 1866 as the National Board of Fire Underwriters (NBFU), it consolidated with two other associations, the AIA and the Association of Casualty and Surety Companies, to form the current organization. The AIA is legally incorporated as a tax-exempt organization under Section 501(c) of the US Internal Revenue Code(Title 26 of the United States Code) and has IRS Employer Identification Number 133173374.It is based in Washington, D.C.

The organization’s activities include lobbying local, state, and federal policymakers on behalf of its members; republishing and analyzing recent legislation and regulatory agency rulemaking to determine and communicate to members potential impacts on their business operations; engaging in public relations on behalf of the property-casualty insurance industry for example by issuing press releases, and providing job-posting and job-application services for employers and employees in the property-casualty insurance industry.

In 2003, the association went before the U.S. Supreme Court to challenge a California law that required insurance companies to disclose Holocaust-era policies in order to do business in the state. In American Insurance Association v. Garamendi, the court sided with the AIA and found the law unconstitutional because it would “interfere with the president’s ability to conduct the nation’s foreign policy.”

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