ISO News

One-Size Doesn’t Fit All in Today’s Evolving Homeowners Market

The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and new pieces that address …

ISO Introduces Drone Coverage Options for Commercial Inland Marine Market

ISO has launched inland marine insurance forms for businesses using commercial drones to protect them from the costs potential crashes, including damage to the drones, their equipment, and their cargo. The new ISO forms offer underwriting tools to address commercial …

ISO Launches Management and Professional Liability Unit

ISO has launched a management and professional liability unit. The unit will spearhead new and revised coverage options as well as actuarial and analytics products for business and corporate risks. Joining ISO to lead the effort are Stephen Whelan, Michael …

ISO Upgrades Sioux Falls, South Dakota Fire Protection Rating

Homeowners in South Dakota’s largest city might soon get a break on their insurance bills. The Insurance Services Office that scores about 48,000 fire departments nationwide is upgrading Sioux Falls’ public protection grade to the second-best mark that a fire …

ISO Drone Insurance Coverage Options Now Available to Insurers

ISO’s new coverage and exclusion options for commercial drones took effect this month in most ISO jurisdictions. The options were designed to provide insurers with tools to help develop insurance programs for businesses that may use drones. The new options, …

P/C Insurers’ Surplus Rose, Profitability Fell in 2014’s First 9 Months

The first nine months of 2014 saw policyholders’ surplus for the U.S. property/casualty insurance industry reach record levels. At the same time, net income after taxes declined substantially and overall profitability took a noticeable dip. As well the annualized rate …

Biggest Obstacle to Cyber Insurance Sales Is Customer Education

The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey. The survey of insurance professionals found that among carriers offering cyber insurance, 40 percent say businesses don’t think they …

ISO Comments on CGL Endorsements for Data Breach Liability Exclusions

As data breaches become more prevalent in the workplace, ISO, a member of the Verisk Insurance Solutions group at Verisk Analytics in Jersey City, N.J., has been taking steps to constrain commercial general liability policies based on ISO forms from …

P/C Insurers’ Profit Dipped in Q1

Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net gains or losses on underwriting, net investment income, and miscellaneous …

2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007

U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus climbing to 10.3 percent from 6.1 percent. …