American Association of Insurance Services

Lisle, IL

Mission

TO PROMOTE THE COMMON BUSINESS INTERESTS OF AFFILIATED INSURANCE COMPANIES AND ORGANIZED GROUPS OF INSURANCE COMPANIES.

Ruling year info

1975

Principal Officer

WERNER KRUCK

Main address

701 Warrenville Rd Ste 100

Lisle, IL 60532 United States

EIN

36-2021360

NTEE code info

Promotion of Business (Chambers of Commerce) (S41)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Programs and results

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Our programs

SOURCE: IRS Form 990

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Program 1

AAIS IS AN ADVISORY ORGANIZATION AND A STATISTICAL AGENT WORKING ON BEHALF OF 759 PROPERTY AND CASUALTY INSURANCE COMPANIES. AAIS DEVELOPS, MAINTAINS AND UPDATES MANUALS OF RULES AND RATING PROCEDURES FOR APPROXIMATELY 38 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, 2023, AAIS MADE OVER 1050 FILINGS WITH INSURANCE DEPARTMENTS TO ADDRESS PRODUCT UPDATES AND REVISIONS, AS WELL AS EVOLVING REGULATORY COMPLIANCE ISSUES.

Expenses
$0
Revenue
$0

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, 2023, AAIS PROCESSED APPROXIMATELY 8,500,000 CLAIMS RECORDS WITH TOTAL LOSS ESTIMATES OF APPROXIMATELY $33.4 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 230,000,000 RECORDS OF RELATED THIRD PARTY DATA WERE UTILIZED FOR VARIOUS ADVISORY SUPPORT ACTIVITIES DURING FISCAL YEAR ENDED JUNE 30, 2023.

Expenses
$0
Revenue
$0

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, 2023, AAIS DISTRIBUTED ALMOST 600 RELATED BULLETINS TO MEMBER COMPANIES.

Expenses
$0
Revenue
$0

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Financials

American Association of Insurance Services
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Operations

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This organization has no recorded board members.