Loss Cost

Deep dive on ProMetrix: Next Generation

Numbers are curious things. The overused business expression for seeing something from a high level is “a 30,000 foot view.” Professional divers, however, define a “deep dive” as anything from 60 to 100 feet below the...

Engineering a loss cost for competitiveness

If you’re an underwriter, you probably spend more time dealing with loss costs than you’d like. It can be frustrating because it’s a driver of your underwriting and pricing, but because it’s a filed instrument, you ha...

Bringing together underwriting and loss control

There’s little doubt that field-surveyed property reports are the gold standard in the industry. Our trained staff examines critical characteristics and provides detailed assessments of commercial properties and relat...

ISO Portal Opens Up New Level of Detail to E&S, Reinsurance Markets

It’s not surprising that excess and surplus (E&S) underwriters have traditionally been forced to rely on experience and judgment to price insurance policies. After all, the non-admitted market is about as varied as yo...

Novarica report reveals insurers save significant time and money using ISO content in electronic format

Novarica (a division of Novantas that conducts independent research) recently released a report showing that, by using ISO content in electronic format, insurers have realized on average: - a 39 percent reduction in...

New Portal Provides Virtual Rating and Benchmarking for the Nonadmitted Market

Pricing insurance in the nonadmitted market is one of the toughest tasks for underwriters, as they try to rate new, niche risks with limited historical data. But it can be much easier with our new online portal . The...

Quantifying Loss Cost Variability

Fill in the blanks: The uncertainty inherent in the estimation of _________ implies that a range of ________ can be actuarially sound. Those trained in actuarial science will likely answer “reserves.” That is, in...

New Novarica Report Highlights Vendors Relationship with ISO

Among the questions insurers should ask when choosing a rating system are whether the vendor has a formal business alliance with ISO and whether the provider offers a subscription service for maintaining ISO products,...

New ISO Circular Tracking Tool Receives Great Reviews

We’ve been listening to our customers about the challenges they encounter in handling regulatory content — loss costs, rules, forms, statistical codes, and business edits. The process of managing some 4,000 circulars...

New Tool on the Horizon to Help Track ISO Circulars

At ISO, our customers have told us about the challenges they encounter in handling regulatory content — loss costs, rules, forms, statistical codes, and business edits. Insurers depend on ISO circulars to supply that...