NEW YORK, Nov. 6, 2000 — ISO will begin reporting commercial insurance price-change information in a new analytical information product called ISO MarketWatchTM.
ISO MarketWatch reports, available today, will be issued quarterly, tracking state and countrywide price changes on renewal business for General Liability insurance. Unlike information based on estimates from a sampling of agents' and brokers' reports, ISO MarketWatch is based on a large sample of actual policies reported to ISO by participating insurance companies.
The ISO MarketWatch sample will be based on more than $1 billion in direct written premium from more than 50 insurance groups.
"ISO MarketWatch is a key tool for anticipating insurance market trends and emerging cycles," said Carole J. Banfield, ISO's executive vice president. "Knowledge of the latest trends, based on hard data, is key to making strategic business decisions and gaining competitive advantage," said Banfield.
The ISO MarketWatch product will be available to insurers, reinsurers, market analysts and others interested in general liability price information. Early next year, ISO will begin issuing ISO MarketWatch reports for commercial auto insurance.
ISO MarketWatch may be used for:
The new ISO MarketWatch General Liability reports will contain quarterly price-change information about five months after the end of a quarter — the amount of time it takes to gather and analyze data as it comes in from insurance companies.
ISO MarketWatch reports will go to ISO customers via e-mail with Excel spreadsheets.