What Does Insurance Services Office Mean?
The Insurance Services Office (ISO) is an organization that helps insurance companies with crafting policies, helps them meet statutory laws, and provides information based on data it has accumulated since its inception in 1971.
Its headquarters are in Jersey City, New Jersey.
Insuranceopedia Explains Insurance Services Office
ISO’s expertise is property and casualty insurance risks.
ISO boasts of an impressive database of industry-related data that ranges from actuarial projections to ratings histories. In addition to its large database, ISO also hires personnel from prestigious groups like the Casualty Actuarial Society. For this reason, insurance companies seek out its professional advice when drafting policies.
The Insurance Services Office is part of Verisk Analytics, Inc., a company also based in Jersey City, New Jersey.