JERSEY CITY, N.J., Sept. 28, 2006 — The United States operation of Mitsui Sumitomo Insurance Group (MSIG) has expanded its slate of ISO’s Workers Compensation Information Services (WCIS) with transactional services for injury reporting to designated state accident boards and industrial commissions.
Workers’ compensation transactional data reporting allows workers’ compensation insurers to capture their data as each policy and claim event occurs. ISO will collect MSIG’s workers’ compensation injury claims information and manage the insurer’s first reports of injury (FROI) and subsequent reports of injury (SROI) data, including triggering these reports from MSIG’s claim events. ISO will submit this injury reporting information on MSIG’s behalf to data collection organizations in states where MSIG writes workers’ compensation insurance.
ISO’s transactional services for injury reporting will encompass both mandatory and voluntary states for Electronic Data Interchange (EDI), as well as new jurisdictions that adopt electronic reporting in existing or new formats recommended by the International Association of Industrial Accident Boards and Commissions (IAIABC).
ISO’s WCIS also include, among others, reporting modules for unit statistical reports, aggregate financial submissions and specialized claim reporting (detailed claim information and individual case reports).
“ISO has the technology and the expertise in workers’ compensation information reporting that regulators require for this complex line of business,” said David Leskauskas, senior vice president and deputy chief claim officer for MSIG’s U.S. operation. “With ISO managing our first and subsequent injury reporting to state accident boards and industrial commissions, we can focus on our core competency of writing workers’ compensation insurance.”
ISO already provides MSIG with other workers’ compensation solutions, including workers’ compensation policy management service.
The U.S. member insurers of MSIG are wholly owned subsidiaries of Mitsui Sumitomo Insurance Company, Limited, which is considered among the world’s top property and casualty insurance companies. MSIG’s U.S. operation is part of a global network of operations located in more than 36 countries, with its parent company located in Japan. MSIG enjoys a Superior A+ financial rating from A.M. Best Company and specializes in providing commercial property and casualty insurance products and services to its customers in the United States. MSIG also offers risk management services consisting of loss control, claims administration and rehabilitation services, along with personal lines insurance services. For more information, visit our website at www.msigusa.com.
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO’s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO’s services help customers protect people, property and financial assets.