Business Services Industry

For-profit moves questioned. (changes in Insurance Services Office Inc. and National Council on Compensation Insurance's status as non-profit firms)

Business Insurance, October, 1996 by Fletcher, Meg

NAIC regulators wonder about impact of plans ANCHORAGE, Alaska - Several state insurance regulators are asking probing questions about the motivation and potential public impact of having two major statistical rating and data organizations consider converting to for-profit stock corporations from non-profit entities.

The independent deliberations of the organizations, which both serve the property/casualty market, are in different stages: * The board of directors of the Insurance Services Office Inc. in New York, the nation's largest provider of data, is awaiting the Nov. 18 outcome of a membership vote by mail on its proposal to create two classes of stock and an employee stock ownership plan, effective Jan. 1, 1997. Two-thirds of ISO's 248 members would need to...

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