What is the main purpose of the ISO (Insurance Services Office)? A) To assist in processing insurance payments B) To collect client personal information C) To provide a list of ins... What is the main purpose of the ISO (Insurance Services Office)? A) To assist in processing insurance payments B) To collect client personal information C) To provide a list of insurance agents D) To allow access to previous property or injury claims
Understand the Problem
The question is asking for the fundamental purpose of the Insurance Services Office (ISO), providing multiple-choice options. It tests knowledge of what ISO's primary function is in the insurance industry.
Answer
To provide data, underwriting, and risk management services.
The main purpose of the ISO (Insurance Services Office) is to provide data, underwriting, and risk management services to property insurance companies.
Answer for screen readers
The main purpose of the ISO (Insurance Services Office) is to provide data, underwriting, and risk management services to property insurance companies.
More Information
The ISO (Insurance Services Office) specializes in providing essential tools and analytics that help insurance companies with underwriting and managing risks effectively.
Tips
A common mistake might be assuming ISO collects personal information, which it does not; it focuses on data important for insurance risk assessments.
Sources
- FAQs • What is the Insurance Services Office (ISO) and what - loudoun.gov
- FAQs - Verisk - verisk.com
- What does ISO stand for in insurance? - thimble.com
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