Financial Services Industry
Industry: Email Alert RSS FeedInsurers defend integrity of industry statistical agencies.
National Underwriter Property & Casualty-Risk & Benefits Management, October, 1993 by Otis, L.H.
It would be a mistake for regulators to dismiss the integrity of data produced by industry-owned agencies and insist on an independent data gathering system merely because of the appearance of a conflict of interest, statistical firm executives and board members told the National Underwriter this week.
Insurance industry executives say the statistical agencies now use by regulators to determine the need for and size of rate increases should be judged on the quality of their data and their responsiveness to regulators rather than on whether they are industry-controlled. Those interviewed were uniformly supportive of the current system of data collection, although one executive noted that the insurance industry was not unyieldingly tie to the notion of continue...
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