Announcement - Dwelling Property on BriteCore, AAIS Forms Adopted

BriteCore: Dwelling Property Policies

We are pleased to announce that we are releasing the Dwelling Property line of business onto the BriteCore system. This is the last remaining line of business to be converted onto BriteCore.

The implementation will be in two stages.

The first stage will be new applications.

• The new business quoting interface from BriteCore for Dwelling Property is now available to use. Please see these help videos for help specifically with Dwelling Property quoting. If you are not familiar with the BriteCore quoting interface overall, please see these help videos.
• IMPORTANT: As of February 15, 2021, new Dwelling Property quotes will no longer be able to be created from the original quoting site. However, existing quotes will remain available and still can be submitted from that site.
• New Dwelling Property applications submitted from the original quoting site on March 1, 2021 or after will be converted to the BriteCore system. IMPORTANT: This will cause a premium difference.

The second stage of the implementation will be renewal policies.

• Dwelling Property renewals will be renewed from BriteCore beginning with April 1, 2021 policy effective dates.

AAIS: Dwelling Property Policies

Our current dwelling program uses relatively old forms and endorsements adopted from the Insurance Services Office (ISO). This is being changed. Along with the system conversion of this line of business to BriteCore, we are also adopting current forms and endorsements from the American Association of Insurance Services (AAIS).

Note, our underwriting guidelines and procedures are not changing due to the adoption of AAIS forms. However, there is a new manual. You can find it here along with copies of all the program's forms and endorsements. 

Also, while the AAIS forms offer very similar terms, conditions, and coverages, there are some differences that you should be aware of. We have put together a Disclosure Notice to help you. IMPORTANT: For renewals, a Disclosure Notice similar to this will be mailed to each Dwelling Property policyholder a few weeks prior to renewal. Your agency will receive a copy of this notice. Also, upon renewal, the policyholder will receive copies of all forms that are applicable to their policy.

After reviewing the Disclosure Notice, you will find that many terms and coverages are expanding in the AAIS program compared to the ISO program. Also, the AAIS program has a completely different rating algorithm. Therefore, premium for some policies will go down and premium for some policies will go up. However, overall on average, premium for this line of business will increase by 6%.