ISO Beefs Up Its Policy Support Form Service
NU Online News Service, Sept. 23, 10:42 a.m. EDT?Insurance Services Office, Inc. said it had developed a new and improved service to help insurers comply with state legal and insurance regulatory requirements.
The Jersey City, NJ.-based group said it will begin making its new Policywriting Support Forms available to participating insurers on Oct, 1. ISO said it will maintain and update these forms for regulatory and other changes, so insurers can stay current on new developments and legal requirements in specific jurisdictions where they write personal and commercial lines of insurance.
ISO spokesperson Dave Dasgupta said the program is an extension of prior service activity by ISO, providing members with Policyholder Notification forms, some applications, and some information on regulatory requirements. That activity, he said, is now being formalized with the Policywriting Support Forms service.
He said what ISO provides is different from what is obtainable from organizations like ACORD because ISO's expertise is in regulatory compliance, while ACORD's is in agent-company interaction and electronic transmission of information. "Insurers should benefit from both our organizations in looking at these forms from the ISO areas of expertise," according to Mr. Dasgupta.
The new Policywriting Support Forms include:
? Cancellation and nonrenewal notices and lost policy releases.
? Motor carrier's financial responsibility forms and ID cards.
? Certificates of insurance.
? Uninsured Motorists/Underinsured Motorists/Personal Injury Protection (UM/UIM/PIP) selection and rejection forms.
? Claim forms.
? First report of injury and loss notices.
? Privacy notices.
? Applications.
? Fraud warnings.
"With our new Policywriting Support Forms service, insurers can access a broad range of forms that will help them comply with specific legal and regulatory requirements of state insurance regulators," said Domenick J. Yezzi, Jr., ISO vice president?specialty commercial lines.
"Insurers require a variety of policy-related forms to administer insurance programs, and now they have them from ISO, the source they trust for expertise in drafting standard insurance policy forms for over 18 lines of business," Mr.Yezzi added.
ISO said it will notify insurers of new forms and any change to coverage language by circular and make the forms available on ISOnet, ISO's secure Internet platform for information delivery. The ISOnet Forms Library makes the forms available in both Microsoft Word and PDF formats.
For more information on, and subscriptions to, ISO Policywriting Support Forms, contact ISO Customer Service at 1-800-888-4476 or e-mail [email protected].
ISO is a source of information, products and services related to property and liability risk. ISO provides data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services for a spectrum of commercial and personal lines of insurance.
In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.
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