RATING

ISO knows where you live
Enhanced database provides address-specific info
The Insurance Services Office (www.iso.com) database keeps getting bigger. ISO now offers Location, a database of street addresses for virtually every residential and commercial property in the United States. The data allow property and casualty insurers to assign accurate Public Protection Classifications (PPC) to each risk they insure. The PPC program, also from ISO, allows insurers to evaluate a communitys fire suppression capabilities, an important tool in pricing insurance coverage.
Location is available on CD-ROM, with monthly PPC information and quarterly updates on road and postal data also on CD-ROM. It combines geographic information system technology with data provided by community officials throughout the country. It uses ISOs Geographic Underwriting System to help evaluate risks. Current and risk-specific information on all U.S. addresses allow insurers to make more informed rating and underwriting decisions and reduces errors in reporting fire protection classifications.
ISO hopes to expand Location in the future to include information on rating territories, crime, brush fire, hurricane, earthquake, and severe-thunderstorm risks.

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