AAIS lines of business
Rate works of art and collections
Fine Arts is rated on limit rather than on a receipts or payroll basis, with loads that add rather than multiply. SelectRate follows that structure exactly, including the states that band special perils on their own tiers.
What Fine Arts Floater covers
Fine Arts Floater covers works of art, whether a private collection, a dealer stock or a museum loan. What makes it distinctive for a rating platform is the structure: the premium is built from loads that add together per unit of limit, not from a chain of multipliers.
A rater that assumes every inland marine product is a factor chain gets this line subtly wrong. SelectRate implements the filed structure, and the worksheet shows each load separately.
What SelectRate rates on this line
Everything below is rated on the filed AAIS methodology. Where the filing leaves a value to the company, it is a value your program supplies, and the worksheet names it as yours.
Limit based rating
Loads applied per unit of the fine arts limit, as filed.
Additive loads
Each load shown separately in the worksheet rather than collapsed into one number.
Three rule families
The range states, the fixed states and the tiered special perils treatment, each on its own filing.
Legal factor bounds
Where a state caps a discretionary factor by law, the cap is enforced rather than documented.
Reporting form
Values reported through the term.
Declared total loss
The declared total loss treatment as a company passthrough.
Broad state availability
Fine Arts Floater rates across a wide set of jurisdictions, with state loss costs and the rule family each state files. More than one effective dated loss cost edition exists in the multistate base, so a past effective date resolves the edition that applied then.
Where a state sets a legal bound on a discretionary factor, the bound is part of the governed content. An out of bounds value is refused, not warned about.
Start from the standard
Nobody should have to build a Fine Arts Floater program from an empty screen. Every organization on SelectRate has a Standard Fine Arts Floater: a governed program sitting directly on the published AAIS foundation, ready to inspect and test.
It tells you where you actually stand. Which states are in force. Which are ready to rate now. Which are waiting on a company value, and exactly which value. You run Program Test on it, and when you are ready you create your own program from it.
The Standard Program also carries ready made sample transactions. Open one, rate it, change an input and rate it again. It is the quickest way to understand how Fine Arts Floater behaves before you configure anything of your own.
Governed foundation
The published AAIS content for Fine Arts Floater, maintained by Selectsys and read only.
Standard Fine Arts Floater
One per organization. Inspect the states, see what is ready and what needs a company value, and run Program Test.
Your program
Created from the standard, with your company values, adoption dates and authorized deviations on top.
Configure what makes your program different
Your Fine Arts Floater program is the part the filing leaves to the company: the loss cost multiplier where one applies, the selections inside the bounds the filing sets, adoption dates and any deviation your carrier has authorized. The filed content underneath is not yours to change and not yours to maintain.
Configuration happens in Program Studio as a draft, and a draft is tested before it becomes real. Program Test prefills a known good Fine Arts Floater scenario, so the first test you run is a real one rather than a form you have to invent. Review lists exactly what a version changes against what is published, state by state, and publication is a decision a person makes.
A published version is immutable. Every quote, policy and worksheet records the version it rated with, so a premium stays reproducible after the program has moved on.
The Workbench adapts to the rating product
Underwriter Workbench does not carry a hand built screen per line. The intake comes from the rating product itself, so Fine Arts Floater presents the exposures it is actually written on, with the governed classifications and option lists for the state and the effective date.
Repeating exposures repeat. Referrals surface as referrals rather than as a failed request. And every premium carries its worksheet: each step, the value it used, and where that value came from, which layer and which version. That is the artifact an audit asks for, and it exists whether the rating came from the Workbench or from your own system over the Rating API.
From submission to bound policy
An underwriter enters the risk in Underwriter Workbench, rates it against every program the organization is entitled to, reads the worksheet and binds. The premium is produced by the same engine and the same configuration whether the request came from the Workbench or from your own system over the Rating API.
Rating beyond the quote is a platform capability rather than a per product rebuild, so a line gains it without changing how your integration works. Ask us where Fine Arts Floater stands for the program you are planning.
Common questions
Is the premium a chain of factors?
No, and that matters. Fine Arts is rated on additive loads per unit of limit. The worksheet shows each load rather than a single blended rate.
Are discretionary factor caps enforced?
Yes. Where a state files a legal bound, a value outside it is refused.
Can values be reported through the term?
Yes. The reporting form is supported.
Rate a collection on the call
Bring a fine arts risk you write and we will rate it, load by load, with the worksheet open.