The American Association of Insurance Services recently posted its latest “Homeowners Cause of Loss Report” on its AAISdirect Web service. AAIS is a national insurance advisory organization and licensed statistical agent that develops policy forms and rating information for 24 lines of personal, commercial, farm, and inland marine insurance. More than 600 property/casualty insurers use one or more of these programs.

The latest “Homeowners Cause of Loss Report” indicates the percentage and average severity of losses due to property perils and liability claims incurred by carriers that report homeowners statistical data to AAIS.

The latest report has been expanded from previous versions to provide loss information for each state and the entire country from 2005 through 2007, as well as for the combined three-year period. The data is provided for calendar accident years, making the report more valuable to company personnel charged with underwriting, pricing, and loss reserving.

For 2005 through 2007, the report provides the following countrywide results, as well as information on average severities:

Totals may not add to 100 due to rounding.

The “Homeowners Cause of Loss Report” is available at no additional charge to insurers that use both the AAIS Homeowners Program and AAISdirect. For other companies, including those not affiliated with AAIS, the report is available for a fee.

Source: American Association of Insurance Services

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