Business Services Industry
Opinions differ on ISO: for-profit move brings predictions of better service but price hikes. (Insurance Services Office Inc. plan to become a for-profit entity)
Business Insurance, November, 1996 by Fletcher, Meg
NEW YORK - Member approval of the Insurance Services Office Inc.'s plan to convert to a for-profit entity is prompting varied predictions on how ISO's identity and goals will change. One risk manager, who works closely with ISO as a Risk & Insurance Management Society Inc. official, says the conversion will encourage ISO to continue working closely with customers to better compete with a growing number of insurance data-gathering companies.
The result should be better products and services tailored to meet risk managers' needs, the official predicted. However, state insurance regulators and a few other critics are concerned about potential drawbacks, such as the impact of ISO's new for-profit goal on monopolistic services like the creation and issuance of model...
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