New Casualty Index Announced
ISO, a provider of property/casualty insurance risk information, has launched the ISO Casualty Index, a new service providing loss ratio and loss development trends for select lines of casualty insurance.
The Index is based on statistical data collected from more than 700 insurer groups throughout the nation and containing more than 15 billion transactional records. As an alternative way to manage casualty risk, the Index permits customers to track underwriting cycles, manage adverse loss experience, and benchmark performance.
It covers 10 defined segments within the general liability and commercial auto lines of business and is updated quarterly for the rolling 10 experience years within each segment.
According to Virginia Prevosto, vice president at ISO, the Index is designed for use by actuaries, underwriters, and other insurance professionals, in addition to participants in the insurance-linked securities markets.
Source: ISO
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