A new service from Insurance Services Office's LOCATION geographic information system helps insurers manage their exposures to natural catastrophes.
Developed by AIR Worldwide Corporation, ISO's catastrophe modeling subsidiary, the service provides risk profiles on every address in the continental U.S. Insurers can study the information online via ISO's electronic delivery system, which allows them to use underwriting tools from ISO and other information providers.
According to AIR, the service provides address-specific risk information for hurricanes, earthquakes, and severe thunderstorms, as well as long-term average annual loss and 100- and 250-year losses for a typical property at a specific location. The risk of a given address also can be compared with that of other addresses in the same county and state.
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