JERSEY CITY, NJ, Nov. 26, 2002 — Insurance Services Office, Inc. (ISO) has complemented ISO Employers AdvantageSM employment-practices liability (EPL) program through a marketing relationship with FairBoss Underwriters, Inc. (FBU), which provides reinsurance placement and claims-handling services to primary insurers. With the addition of these services, ISO Employers Advantage now includes a complete package of EPL services — an underwriting guide, policy forms and endorsements, manual rules, advisory prospective loss costs, and risk-management and human resources consulting services and training from its strategic allies, the workplace HELPLINE and Laurdan Associates.
FairBoss Underwriters can protect and enhance the underwriting profitability of an EPL program by working directly with insurers to help them better manage underwriting and loss-control processes to limit losses and claims. FBU will place an insurer's EPL program with a reinsurer on a treaty basis and train underwriters of its ceding customers to evaluate a primary insurer's loss-control program, loss history and employee-management practices. FBU can evaluate the EPL capabilities of an insurer's underwriting, claims, systems and management departments and provide expert analysis of risk participation.
FairBoss Underwriters also offers streamlined claims handling. FBU's litigation experts coordinate the initial response to a claim and help respond to the charge. FBU's expertise in interpreting EPL forms permits a quick resolution of the majority of claims without the additional expense of outside counsel. FairBoss Underwriters also actively manages all aspects of the loss-control process to limit the final payout.
"The addition of reinsurance services makes ISO's employment-practices liability program a more robust offering," said Domenick J. Yezzi, Jr., ISO's vice president for specialty commercial lines. "Our primary insurance customers are now better positioned to provide their policyholders a complete suite of solutions in this growing market niche."
"We are excited about our relationship with ISO," said Robert Schmidt, RPLU, vice president of FairBoss Underwriters, Inc. "Providing our services to complement the ISO Employers Advantage program is a natural fit, and we look forward to demonstrating our abilities to the broader market that this association will bring to us."
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analyses; consulting and technical services; policy language; information about specific locations; fraud-identification tools; and data processing. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.
About FairBoss Underwriters
Based in Maplewood, New Jersey, FairBoss Underwriters, Inc., a wholly owned subsidiary of FairBoss Corporation, provides reinsurance placement and related reinsurance services specializing in employment practices liability insurance.
Robert Schmidt (FBU)
973-763-2100 x 12