AAIS lines of business
Rate installation work in transit and on the site
A contractor's materials are exposed from the moment they leave the supplier until the job is accepted. Installation Floater rates that exposure on gross receipts and the installation limit, with the job length rule the filing sets.
What Installation Floater covers
Installation Floater covers materials and equipment a contractor is installing, while they are in transit, in temporary storage and at the jobsite. The exposure is driven by how much work the contractor does and how much is at risk on any one job.
SelectRate rates it on the filed basic load grid, limit band against receipts band, and carries the rules that go with it: a job longer than the filed number of days goes to the company, and catastrophe exposure is banded rather than estimated.
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.
Receipts and limit
The filed two dimensional load grid: installation limit band against annual gross receipts band.
Length of job
Jobs beyond the filed duration refer to the company rather than rating on an extrapolated factor.
Earthquake and flood
Catastrophe exposure on the filed bands.
Deductibles
The installation deductible schedule.
Delay in completion
Delay cover on the filed waiting period factors.
Reporting form
Gross receipts reported through the term.
Rule families and states
Installation Floater rates on a multistate base with state loss costs, and state rule families where the filing sets one, including Louisiana and Missouri. A state whose base is not in force refuses to rate.
Related coverages a contractor usually buys alongside, contractors equipment and tools and equipment breakdown, pass through as company premium on this product rather than being invented inside it.
Start from the standard
Nobody should have to build a Installation Floater program from an empty screen. Every organization on SelectRate has a Standard Installation 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 Installation Floater behaves before you configure anything of your own.
Governed foundation
The published AAIS content for Installation Floater, maintained by Selectsys and read only.
Standard Installation 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 Installation 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 Installation 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 Installation 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 Installation Floater stands for the program you are planning.
Common questions
What happens to a job longer than the filed duration?
It refers to the company. That is the filed behavior, and the rater does not extend the factor table past what was filed.
Can the insured report receipts through the term?
Yes. The reporting form is supported on the gross receipts basis.
Is contractors equipment rated inside this product?
No. It is a separate AAIS product with its own five coverage forms. Where a contractor buys both, they are two programs in one account.
Rate an installation risk on the call
Bring receipts, a limit and a job length from a risk you wrote this month, and read the worksheet with us.