Launch of ISO Casualty Index
06 April 2011
ISO has launched a new US Casualty Index (the Index), a service providing loss ratio and loss development trends for selected lines of liability insurance. JLT Re (North America) Inc was integral to the development of the Index by cultivating interest and input from its client base and other market participants ranging from reinsurance companies to capital market providers.
The Index is based on ISO's statistical data collected from more than 700 insurer groups throughout the USA and containing more than 15 billion transactional records. The data underlie ISO's advisory prospective loss costs and rating information. The Index allows users to track underwriting cycles, manage adverse loss experience and benchmark performance.
Currently, the Index covers ten defined segments within the general liability and commercial motor insurance classes. It is updated quarterly for the rolling 10 year experience years within each segment.
Greg Habay, Senior Vice President at JLT Re (North America) Inc, described the Index as an exciting foray into the world of liability insurance that has been off limits for most insurance-linked securities investors. JLT Re is the first company to license the ISO Casualty Index to facilitate innovative risk-transfer and insurance-linked securities transactions.
Head of Communications & Marketing, JLT Re