Insurance Services Office

What Does Insurance Services Office Mean?

The Insurance Services Office (ISO) is an organization that assists insurance companies in designing policies, complying with statutory laws, and accessing data-driven insights based on information it has gathered since its founding in 1971.

ISO’s headquarters are located in Jersey City, New Jersey.

Insuranceopedia Explains Insurance Services Office

ISO specializes in property and casualty insurance risks and maintains an extensive database of industry-related data, including actuarial projections and rating histories. Most insurers that sell homeowners insurance base their policy forms on ISO’s standardized templates, which is one reason coverage looks similar across different carriers.

ISO also employs professionals from prestigious organizations like the Casualty Actuarial Society, making it a sought-after resource for insurance companies when drafting policies. The same is true on the commercial side, where ISO’s standardized form is the basis for most general liability insurance policies sold to businesses in the U.S.

The Insurance Services Office is a part of Verisk Analytics, Inc., which is also headquartered in Jersey City, New Jersey.