NCCI Completes Acquisition of ISO Subsidiaries

Business Wire, August 17, 1999

BOCA RATON, Fla.--(BUSINESS WIRE)--Aug. 17, 1999--

The National Council on Compensation Insurance (NCCI) announced today that it has completed the acquisition of Insurance Services Office, Inc.'s (ISO) workers compensation insurance subsidiaries, Insurance Data Resources, Inc. (IDR) and IDR Statistical Services, Inc. (IDRSS).

NCCI first announced the intent to acquire IDR and IDRSS from ISO in June of this year. The completed acquisition advances NCCI's ability to build an industry-wide database that offers the most logical, cost-effective and complete means through which the workers compensation industry can best succeed.

"This acquisition offers our customers and regulators a unified database, consistent workers compensation materials, cost savings and an efficient source of information and service for all participants in the workers compensation industry," said NCCI President and CEO Bill Schrempf.

The terms of the transaction were not announced.

For more information on the IDR/IDRSS acquisition, please contact James Wolfe, Chief Communications Officer at 561-997-4749.

NCCI, a workers compensation shared-services organization, offers products and services for establishing accurate loss costs, calculating experience rating modifications, managing residual market mechanisms and reducing overall costs.