ISO-PERSONAL-LINES
US personal lines reference programme.
Definition
ISO publishes standardised PAP forms (PP 00 01 broad coverage), HO forms (HO-3 most common). Loss Cost Filings transmitted to State DOIs. Symbol Classification Program for vehicles. Adopted by ~90% of carriers ; subsidiaries use ISO forms + ISO loss costs + own modifiers. Verisk acquisition 1996.
Origin
ISO founded 1971 by IBA and MIRB merger ; Verisk acquisition 1996 ; Verisk IPO 2009.
Example in context
GEICO uses ISO PAP forms as basis ; modifies rates with its own loss cost multipliers based on its telematics data.
Related terms
- ISO Commercial — commercial twin.