American Association of Insurance Services

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

The American Association of Insurance Services (AAIS) 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.[1] Rating bureaus publish standardized insurance policy forms and prices that insurance company customers use in their business.[2] 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 products.[3]

References

  1. ↑ Reevaluating Standardized Insurance Policies.
  2. ↑ Insurance rating bureaus. Journal of Insurance Regulation.
  3. ↑ Fact or Fiction? Insurance Tidbits of Known and Little-Known Information. Insurance Journal.
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