Study Note: ISO Statistical Plans

The need for aggregate insurance statistical data arises from two different arenas: a regulatory need for data and a business need for data. In the next section the regulatory need for data will be elaborated upon followed by the business need. The majority of the study note, though, focuses on the relationship between the IS0 Statistical Plans and various rating elements for property/casualty insurance. The paper assumes that the student knows the various rating elements for the major lines of insurance covered in this study note and the concepts of “extension of exposures” and “on-leveling.”