ISO Modifies Services To Help Clients Affected by WTC Attack

In the wake of the attacks of September 11, many property and casualty insurers will be drawing on the resources of the Insurance Services Office (ISO, Jersey City, NJ) for the purpose of responding to related claims. But for the many insurance companies and industry-related operations located in lower Manhattan, ISO is offering special assistance to help its customers keep operating.

As a supplier of vital information and services, ISO "needed to quickly and effectively alter our delivery and billing mechanisms and communications systems to customers who were directly affected," says Chris Guidette, ISO's vice president for communications. ISO narrowly escaped having its own operations affected by the attack, having had its headquarters at 7 World Trade Center until April this year, when it moved across the Hudson River.

Immediately following the attack, ISO contacted companies located at the WTC or in the surrounding area and "asked whether they wanted us to hold paper or electronic transmissions or send it to another location, or basically accommodate whatever option they deemed they needed to stay in business," Guidette says. Companies that had information damaged or destroyed in the attack will have it replaced at no charge, he adds.

ISO Risk Decisions Services unit is providing alternate means of accessing specific property information (SPI) in the event that clients are unable to access it. "We're arranging the means for them to receive the information on paper or alternate electronic means, such as on diskette or CD ROM," Guidette says, who adds ISO has set up special numbers for customers to call.

Customers who cannot access Claim Search Database, ISO's fraud detection system, due to the effects of the attack can send their claims information to ISO by fax. "Their claims personnel sends us a copy on an ACORD claims form along with a valid office ID number and we return the information," Guidette explains. "We've also made arrangements for independent claims adjusters designated by insurance companies in affected areas to access ISO Claim Search system to vet claims."

ISO has also put a temporary hold on all accounts receivable to deliverable addresses, Guidette says. "We've also planned to postpone collection calls and we're not assessing finance charges for delinquent accounts of customers in affected areas."

The company's Engineering and Safety Services unit is making technical reports on disaster planning and recovery available to be downloaded and distributed to customers' policyholders. "Companies can put their own indicia and logos on and can add selected reports to their Web sites," Guidette says. Acknowledging that such information is "after-the-fact," he nonetheless suggests that "given the national state of emergency, it's probably prudent to be ready for more events like this."

ISO has also extended an offer to provide temporary office space to affected customers across the Hudson. "We do have some vacant office space in our new building in Jersey City and we're happy to accommodate to the extent that we can," Guidette says. "We're easy to get to from Manhattan."

As "official catastrophe designator," ISO's Property Claims Services (PCS) division acted promptly to declare the September 11 event as "catastrophe number 48," Guidette says, which "is important to insurers and reinsurers, in that reinsurance treaties may be called into action and reinsurance payments may be due as a result." He adds that while insurers will be anxiously waiting for PCS catastrophe loss estimates, "that's going to take a little time."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio