Business Services Industry
Lloyd's, ISO broaden agreement.(Industry News)(renewed and broadened licensing agreement with Insurance Services Office Inc. )(Brief Article)
Business Insurance, January, 2004
JERSEY CITY, N.J.-Lloyd's of London has renewed and broadened its licensing agreement with Insurance Services Office Inc., expanding the range of underwriting and claims products Lloyd's can use in the U.S. market. Under the new agreement, individual underwriters at Lloyd's will be permitted to use ISO loss costs that project future claims for lines of insurance ISO services.
Through the initial agreement that Lloyd's signed with Jersey City, N.J.-based ISO in 2000, Lloyd's underwriters have been using ISO standardized policy language and other services. The new agreement includes ISO's commercial umbrella program and public protection classifications used to measure communities' fire suppression capabilities. In addition, participating Lloyd's...
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