"JERSEY CITY, N.J., December 4, 2007 — ISO Insurance Technology Solutions (ISO-ITS) today announced that Amerisure Mutual Insurance Company has become the first company to fully integrate ISO Rating Service® into its policy administration system. "
I can't prove that more companies than not use ISO....it is just a belief.
I hate to say it but I agree with the your experience with the captives. Is it because a hungry newbie is more apt to work at a captive than an independent agency? I have a good acquaintance that owns a Nationwide agency and I know for a fact that he would rain he!! fire down on any of his agents that would play the under-insured game. But then there are the other ones and that is all I'll say on that subject. I have a face in mind even as I type.
People that play games cause E&O premiums to be as high as they are in today's world.
agent14 wrote:An ISO form is one thing. But many carriers do not write the ISO form, but instead will write a state specific form, and therefore have their own proprietary ERC wording. So an ERC endorsement wording can vary from state to state. As others have said already, if you don't cut corners on insuring at 100% replacement cost, then you will be able to sleep at night.
Not meaning to slam captive agents out there, but I have seen plenty of captive agents that are intentionally writing a policy for as little coverage A dwelling amount as possible to cheat on rate, and adding the ERC thinking that they are covering their bases. I suppose they are very desperate to write the business. Little do they know, that in reality they have their pants down around their ankles should a large loss happen.