NEW YORK, May 8, 2000 — Insurance Services Office, Inc. (ISO) expanded its distribution of insurance information over the World Wide Web by adding ISO's personal lines manual information to ISOnet SM, ISO's Internet delivery system for insurers and agents.
The new online versions of ISO's personal lines manuals provide insurers and agents access to complete manuals containing rules information for ISO's personal auto and homeowners lines of insurance, as well as manuals containing rules information and advisory prospective loss costs for dwelling property, personal inland marine and personal liability insurance. The advisory prospective loss costs for personal auto and homeowners are provided by ISO circulars already available on ISOnet. Prospective loss costs are expected losses from underwriting a particular risk or class of risk, validated by actuarial analysis of historical losses on similar risks or risk classes.
The service also includes ISO's Personal Auto Symbol information that insurers use as a rating variable to help determine the comprehensive and collision coverage premiums for particular makes and models of personal autos.
"When we launched ISOnet two years ago, we made a commitment to our customers that the Internet would become our primary delivery vehicle for ISO products and services," said Domenick J. Yezzi, Jr., ISO's vice president – specialty commercial lines. "By adding ISO's personal lines manual information to ISOnet, we are reinforcing our commitment."
Personal lines information is available through ISOnet to all insurers that use ISO's personal lines services.
Insurers and agents that currently subscribe to ISO's Commercial Lines Manual information over ISOnet have automatic online access to ISO's personal lines manual information to the extent they use ISO's personal lines services. They can view the information in Adobe Acrobat PDF format, which provides a ready-made reference guide for insurers and agents to easily locate and reference ISO's advisory personal lines manual information.
An optional feature permits insurers to download ISO's personal lines manual pages — totaling more than 4,200 pages in print — in Microsoft Word™ format to their workstations to help them develop company-specific manuals. The Word option enables insurers to produce customized manuals, while incorporating their own final rates and exceptions to the ISO rules.
A key benefit for agents is online access to ISO's Personal Auto Symbols for all private passenger autos manufactured since 1990. ISO's Auto Symbols are based on the manufacturer's suggested retail price for the vehicle being covered and the actual physical damage loss experience for that particular make and model.