ISO To Handle Israeli Auto Data.(Insurance Services Office)(Brief Article)(Statistical Data Included)

National Underwriter Property & Casualty-Risk & Benefits Management, February, 2000 by REICH-HALE, DAVID

The Israeli government has selected the Insurance Services Office, Inc. to establish and operate the country's insurance data bank for personal and commercial auto liability insurance for the next three years. The agreement comes after passage of new insurance laws in Israel that will allow for more competition among the nation's approximately 30 insurance companies.

The law goes into effect Jan. 1, 2001. The data bank will collect and verify statistical data from insurers, create an auto risk-classification and statistical plan to identify auto risks, and provide insurers and regulators with prospective loss costs--estimates of future claims payments. "This is purely actuarial and data-collecting work," said LeRoy A. Boison, New York-based ISO's senior...

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