LIMIT OF INSURANCE (LOI) FACTORS - IDAHOPublished: January 20, 2012
This is a subject that is under consideration by Staff and the Board. Generally the Bureau would like to implement this additional pricing factor.However ISO is telling us that they can not provide the information needed to implement these factors, unless the Idaho also adopts the ISO public Protection Factors, Construction Factors, and Occupancy Factors. The implementation of the protection factors on current Bureau loss costs would result in increase base group I loss cost for protection classes 1-4 and decreases has much as 70% in classes 6-10. Staff and Board would prefer not to make this drastic of change without some kind of study. The stats for Idaho are very thin so adjusting based on losses by protection class is not creditable. We have requested that ISO provide us with costs associated with developing a custom set of curves for Idaho. They have acknowledged our request. The status as of this date is that we are waiting for ISO to get back to us. It is an on going topic of discussion at both the Staff and Board level. Background: The Class Loss Costs where developed by taking an average of the then produced loss costs (rates). Each of the Occupancy Codes in the Class Loss Cost table have the protection curve used to develop the rate(Loss Cost) based on the pricing tool used for the code. For Example: Frame & Steel Mercantile Risks where priced using the Idaho Tarriff Manual - This Manual had it own values for public protection. Masonary Mercantile Risks where priced using the Idaho Masonry Mercantile Schedule - This Manual had it own values for public protection. Galoline Stations Risk where priced using the Gasoline Schedule - This Manual had it own values for public protection. Woodworker Risks where priced using the Woodwork Schedule - This Manual had it own values for public protection. Industrial Risks where priced using the Industrial Schedule - This Manual had it own values for public protection. School Risks where priced using the School Schedule - This Manual had it own values for public protection. The list goes on. The current pricing has carried on all these various protection, occupancy, contruction curves.
THE SPECIFIC LOSS COSTS HAVE BE ADJUSTED TO REFLECT THE LATEST EXPERIENCE REVIEWPublished: December 17, 2010
The current Specific Loss Costs have been adjusted. All of the loss cost that are have been change because of revised experience factors now show an effective date of January 1, 2011. If your company has not adopted the newest experience factors the currently published Schedule rate can be converted to a prior experience factor by clicking on the appropriate link displayed below the loss costs display.
BASIC FEE/ASSESSMENT CHANGEDPublished: December 7, 2010
Effective with the First Quarter 2011 Assessments the Basic fee (Mimium Assessment) will be changed to $500. The last time this item was changed was in 1996.
PAPER COPIES OF ADVANCE PLANNING CIRCULARS WILL NO LONGER BE AVAILABLEPublished: December 10, 2009
Effective January 1, 2010 the Bureau will no longer print and distribute by mail hard copies of advance planning circulars. Registered users of the website can request that they be added to a distribution list that will provide notice when new circulars are published. Add me to the list
2010 LOSS COSTS ARE AVAILABLEPublished: September 17, 2009
The January 1, 2010 Class Loss Costs Excel worksheet has been posted in the Class Loss Cost section and an option has been to the Specific Loss Cost Detail page to convert the currently published Schedule rate to the Loss Cost to be effective next year.
2009 TRIP SCHEDULE AVAILABLE VIA THE SPECIFIC LOSS COST SEARCH PAGE AND BELOWPublished: March 14, 2009
Once again we are publishing the trip schedule for our Field Rating Representatives as they respond to your request for loss costs survey request. To review the calender Click Here.
SPECIFIC LOSS COSTS ADJUSTED TO REFLECT NEW RATE LEVELSPublished: December 18, 2008
The published specific loss costs have been adjusted based on the latest rate level review with data ending December 31, 2007. These changes were announced in our circulars 2008-CF-04 and 2008-CF-05. Prior rate levels are available for those companies who have not adopted the most current adjustments.
NEWS FOR IDAHO FIRE CHIEFSThe Bureau has developed a new tool to provide our users with the ability to find the class of public protection applicable to properties based on the address of the property. This tool is called the Public Protection Calculator. One of the key elements that makes this tool work is the boundaries of the cities and fire districts we obtain from the State of Idaho Tax Commission. These are the only boundaries that we will be using in the new Geographic Information System application. Its important, for a number of reason, that the Tax Commission is always updated with annexation details.
PUBLIC PROTECTION CALCULATORThe ISRB PPC Calculator has moved from outside group testing to production and is now available from the public protection page. The water data layer has been updated filling the hole we had in the Northern Lakes Fire Protection District.
Disclaimer | E-mail Us
General Phone 208.343.5483
Copyright, 1998-2013 ©Idaho Surveying & Rating Bureau, Inc.
Our job is to make your job easier!