Our commitment to The Verisk Way is embodied in three stories: how we serve the needs of policyholders, insurers, and communities; how we add value in the area of chemical regulatory compliance; and how we innovate to measure CO2 emissions and model climate change. We also help customers meet their corporate social responsibility obligations.
Serve, Add Value, Innovate
Serve: Celebrating a 150-Year Legacy of Public Safety
We trace part of Verisk’s history back 150 years to 1866, when a devastating fire in Portland, Maine, destroyed 1,800 buildings and left 10,000 people homeless. That tragedy highlighted the vulnerability of the public and the insurance industry to the effects of catastrophic fire losses. And from that tragedy, the National Board of Fire Underwriters (NBFU) was created.
In the late 1800s and early 1900s, the NBFU focused its activities on the application of engineering principles and loss prevention programs. The organization was part of a group that developed the first National Electrical Code to address fire hazards arising from the use of electricity. They also recommended the first national building code for fire prevention construction standards and developed the first municipal fire protection grading schedule to rate municipalities on their fire protection activities.
After a century of service, the NBFU began dividing its activities, including its Engineering and Safety Service (E&S™) and municipal fire protection grading schedule. Ultimately, both found homes at ISO and are now part of the Verisk family. Since 1965, E&S has been at the forefront of addressing workplace hazards and promoting risk reduction. Building on its historical roots, E&S has tackled the hazards of chemical plant disasters and contributed significantly to standards informing emergency responders of hazards they could encounter in the workplace. Since becoming part of ISO in 1997, E&S continues its critical work—providing technical, legislative, and regulatory information for risk management and loss control for insurers, agents, and customers in many other industries.
NBFU’s municipal fire protection grading schedule became the forerunner of ISO’s Public Protection Classification (PPC™) program, which evaluates fire protection services for nearly 48,000 fire response jurisdictions in the United States. By classifying communities’ ability to suppress fires through the PPC program, ISO provides an objective countrywide standard for the industry. The program helps insurers underwrite and price policies commensurate with the risk, ensures that policyholders pay fair premiums, and provides incentives to communities to improve their firefighting services. Better fire protection—as measured by PPC grades—results in lower fire losses.
E&S and ISO now play leading roles in the important 150-year history of promoting public safety and welfare, managing risk, and evaluating municipal fire protection. Both provide ongoing support to fire safety and loss prevention efforts and improve the way we protect people, property, and financial assets. Our strong legacy continues.
Add Value: 3E Company Honored with Business Achievement Award for Regulatory Compliance
Environmental Business Journal recognized 3E for a number of significant achievements in the area of chemical regulatory compliance:
- For providing the first mobile site to offer instant access to chemical regulatory compliance reference data through smartphone and tablet devices, streamlining conformance with product safety and stewardship obligations
- For its supply chain regulatory alert system, which ensures that manufacturers are aware of changes to regulatory requirements for a specific material
- For its expanded regulatory content and data in the cosmetics, food, food contact, personal care, and pharmaceuticals industries
As an award winner for the tenth consecutive year, 3E remains an industry leader in environmental health and safety compliance and information management services, supporting customer compliance efforts around the world.
Innovate: NASA award recognizes AER scientists for help developing new instrument for measuring carbon and climate change
(Photo credit: NASA/David C. Bowman)
Current global satellite-based observations of CO2 rely on measurements from passive instruments that use reflected sunlight to measure CO2 concentrations. The ASCENDS mission will employ laser-based technologies enabling continuous measurements both day and night in high latitudes such as northern Europe during the winter and over the poles.
To pave the way for this eventual space-borne instrument, engineers are developing airborne instrumentation that helps advance the systems needed for the mission. ACES is one such instrument that the NASA Langley Research Center in Hampton, Virginia, has developed over the last four years and flown on a number of science flights in 2014 to test instrument performance. AER researchers have participated in the ACES design analysis and retrievals of CO2 amounts from flight data. In the future, NASA plans to deploy the ACES instrument, designed to fit in NASA GlobalHawk, on an unmanned platform for extended testing. Click here for more information on the ACES instrument.
Helping Customers Meet Their Obligations
Beyond what Verisk does for its own corporate social responsibility initiatives, we also have business segments that help our customers address their corporate social responsibility challenges.
Here are just a few examples of activities from across the Verisk enterprise.
Human Rights Risk Atlas 2015
Verisk Maplecroft’s Human Rights Risk Atlas 2015 helps business, investors, and international organizations assess, compare, and monitor human rights risk and trends across all countries over seven years. The Atlas includes interactive maps and indices for 38 human rights categories and scorecards for 198 countries, covering human security, labor standards and protection, and civil and political rights. It also features mapping of human rights violations and human security incidents worldwide.
Mitigating the Risk of Conflict Mineral Sourcing Regulations
3E provides products and information for customers to understand unique segments of corporate social responsibility, such as conflict minerals. Conflict minerals — ores of metals sourced from regions rife with armed conflicts and human rights abuses — are the subject of laws and regulations in the United States and other countries. 3E works with companies to mitigate the risks of conflict minerals compliance and provide comprehensive information on the regulatory environment and supply chains.
—Dr. Nana Banerjee, Group President, Verisk Analytics