NEW YORK, December 7, 1998 — As the soft market challenges reinsurers to keep their prices competitive, Insurance Services Office, Inc. (ISO) is unveiling a package of products to help reinsurers effectively analyze and price risks.
ISO's Reinsurer Package combines sophisticated technology with industrywide data across a range of lines — commercial property, commercial auto, general liability, and medical professional liability — and puts the information into an easy-to-use Microsoft® Windows 95TM environment.
The centerpiece of the package is ISO's unique Commercial Property Size-of-Loss Database which contains information, in by-state detail, on more than 600,000 occurrences in 11 categories and 21 occupancy groups. Users can select any or all combinations of these elements. Report-generating software helps the user price any layer of reinsurance for treaties or individual risks and export the results to spreadsheet applications.
"Never before has an approach to property excess-of-loss analysis been based on such a large, broad, and current industry database," says Nolan Asch, principal of ISO's Reinsurance Division.
The Reinsurer Package also includes ISO's Multi-Distributional Increased Limits Developer (MILDSM), Homeowners Section II Loss Development software, and Excess Layer Loss Development Manuals.
Reinsurers may buy ISO's Reinsurer Package or any of its components separately. For more information, call ISO's customer service department at 1-800-888-4476.
Insurance Services Office, Inc. (ISO) provides information about property/casualty insurance, including statistics, underwriting and claims information, actuarial analyses and consulting, policy language, and related information and technical services to participants in the property/casualty insurance market. ISO's database, with 5.5 billion detailed insurance premium and loss records, is one of the largest private databases in the world. ISO serves more than 2,900 insurers and reinsurers, as well as agents, brokers, self-insureds, regulators, and risk managers with information on 18 lines of property/casualty insurance.