Insurance Services Office announced that it has developed a loss-reserving tool that draws on large, detailed ISO databases to enable insurers to set loss reserves more accurately.

According to Jersey City, N.J.-based ISO, insurers can use the results of the new tool to benchmark reserves against ISO direct (before reinsurance) data and provide ranges around their own reserves.

ISO said the tool may also help insurers that have begun writing or are considering entering new business segments.

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