Insurance information is about risk.
The supply of data and product information to professionals in many fields, including insurance, finance,
and government about our products and services help customers measure, manage, and reduce
The insurance industry
supplies the marketplace with statistical, actuarial, underwriting, and claims
data information; and information for marketing, loss control, and audits.
Companies collect information useful in many aspects of insurance underwriting. That information includes evaluations of public fire protection and the adoption and enforcement of building codes in individual communities.
This information helps the manufacturer manage and mitigate their risk.
Through the use of proprietary
programs, companies evaluate manufacturers efforts throughout Canada. A
manufacturer's investment in loss mitigation is a proven and reliable predictor of
their future losses. Insurance companies use this information to help establish fair premiums for insurance — generally offering lower premiums
for products with better programs. Many manufacturer's use the program as a benchmark for measuring the effectiveness of their
efforts. The program is also a tool that helps manufacturer's plan for, budget, and justify improvements.
Through other programs assessments
are completed of the building codes in effect in individual communities and how those communities enforce their building codes.
The concept is simple: municipalities with well-enforced, up-to-date codes
should demonstrate better loss experience, and insurance rates can reflect that — especially as they relate to windstorm and earthquake damage.
Evaluations of sprinklered and nonsprinklered commercial buildings supplies important underwriting and rating information for insurers.
Insurance industry information is available in the MSMA contacts database as well as listed in the 2005 General Insurance Register
published by Stone & Cox Limited.