New ISO Form
Moderators: Josh, independent guy
Forum rules
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
New ISO Form
I have a few new products I would like to see offered by carriers. How would I go about getting these products to carriers to license or the ISO to license and publish forms for? Any ideas? Thanks.
Re: New ISO Form
What are these "products"? i.e. is it an insurance coverage that hasn't been thought up yet, or ???
Re: New ISO Form
Yes - new products
Re: New ISO Form
jzet123,
I am trying to understand what you are seeking to do. ISO is a service company that files "standardized" forms than many carriers use so they do not have to file their own individual forms. They can "adopt" or chose to not "adopt" each new form that ISO files. They can also file their own forms.
Keep in mind that many times carriers file and use their own forms outside of ISO. A good example of this is for employment practices liability coverage. I do not know of ANY carriers that use ISO's EPLI forms. Just because ISO "builds it", doesn't mean carriers will use it. EPLI coverage was out in the market for over 10 years before ISO decided to try and put together a standardized form.
Most "new products" are brought into the market by the excess and surplus lines market. Surplus lines carriers do not file their rates and forms and can immediately use a new form (unless it is against the public good or they are not permitted to do it by state regulation).
I have worked on may new coverage areas and have a good feel for what is out there in the market and what carriers might be willing to offer the type of coverage you are looking to offer. We also do a wide range of program business in our agency. If you would like to discuss the possibilities, let me know I can be reached at kennethkukral@intlxs.com
Ken Kukral, CIC
www.intlxs.com
www.xsprograms.com
I am trying to understand what you are seeking to do. ISO is a service company that files "standardized" forms than many carriers use so they do not have to file their own individual forms. They can "adopt" or chose to not "adopt" each new form that ISO files. They can also file their own forms.
Keep in mind that many times carriers file and use their own forms outside of ISO. A good example of this is for employment practices liability coverage. I do not know of ANY carriers that use ISO's EPLI forms. Just because ISO "builds it", doesn't mean carriers will use it. EPLI coverage was out in the market for over 10 years before ISO decided to try and put together a standardized form.
Most "new products" are brought into the market by the excess and surplus lines market. Surplus lines carriers do not file their rates and forms and can immediately use a new form (unless it is against the public good or they are not permitted to do it by state regulation).
I have worked on may new coverage areas and have a good feel for what is out there in the market and what carriers might be willing to offer the type of coverage you are looking to offer. We also do a wide range of program business in our agency. If you would like to discuss the possibilities, let me know I can be reached at kennethkukral@intlxs.com
Ken Kukral, CIC
www.intlxs.com
www.xsprograms.com
Re: New ISO Form
Thank you for your response Ken. I have a few new products which I would like to bring to the marketplace. My products are unique and patented. I am just wondering if it's best to approach carriers or form writing organizations (such as ISO), or both? Thanks so much for your help!
-
MugsyMoe123
- Insurance Journal Fan
- Posts: 1
- Joined: Tue Feb 09, 2016 1:32 pm
Re: New ISO Form
We are a carrier - what type of coverage are you looking for GL? PL? Allie Health? Med Mal? Prop?
Re: New ISO Form
Hi MugsyMoe123-
It is applicable to all lines.
Joann
It is applicable to all lines.
Joann
Last edited by jzet123 on Wed Mar 02, 2016 4:53 pm, edited 3 times in total.
-
OldIndyAgent
- Insurance Journal Addict
- Posts: 81
- Joined: Sat Mar 19, 2011 7:07 am
Re: New ISO Form
United States Patent 8,566,128
Koziol
Abstract
The present invention is a system and method of creating insurance with a switching device that limits the liability of the insurer.
Claims...
1. A method for providing insurance coverage, comprising the steps of: providing access to at least one database stored in a computer accessible memory device including information about a particular property or interest; utilizing information in the at least one database to create, with a computer, risk profiles over time, relative to insuring the particular property or interest; determining by a computer, using the risk profiles created, for a particular policy term of a first duration: two or more coverage periods in which insurance coverage is provided on the particular property or interest by a first insurer, the total duration of the two or more coverage periods being less than the first duration; at least a third coverage period in which insurance coverage is provided on the particular property or interest by a second insurer, the at least a third coverage period of the second insurer being different than the two or more coverage periods of the first insurer; and generating an insurance policy for the particular property or interest having the particular policy term and which provides coverage by only the first insurer during the two or more coverage periods determined and by only the second insurer during the at least a third coverage period determined, at least two of the two or more coverage periods being non-contiguous in time during the first duration.
Koziol
Abstract
The present invention is a system and method of creating insurance with a switching device that limits the liability of the insurer.
Claims...
1. A method for providing insurance coverage, comprising the steps of: providing access to at least one database stored in a computer accessible memory device including information about a particular property or interest; utilizing information in the at least one database to create, with a computer, risk profiles over time, relative to insuring the particular property or interest; determining by a computer, using the risk profiles created, for a particular policy term of a first duration: two or more coverage periods in which insurance coverage is provided on the particular property or interest by a first insurer, the total duration of the two or more coverage periods being less than the first duration; at least a third coverage period in which insurance coverage is provided on the particular property or interest by a second insurer, the at least a third coverage period of the second insurer being different than the two or more coverage periods of the first insurer; and generating an insurance policy for the particular property or interest having the particular policy term and which provides coverage by only the first insurer during the two or more coverage periods determined and by only the second insurer during the at least a third coverage period determined, at least two of the two or more coverage periods being non-contiguous in time during the first duration.
Re: New ISO Form
Oldindyagent - Is that you work? If not, do you have permission to post that?
-
OldIndyAgent
- Insurance Journal Addict
- Posts: 81
- Joined: Sat Mar 19, 2011 7:07 am
Re: New ISO Form
Patents are public...Not sure what the problem is.
Re: New ISO Form
I am not an attorney. However, my understanding is that it is illegal to post someone else's work product (public or not) without their express consent and permission. Just because information may be out there, does not give anyone the right(s) to share it without permission and/or licensing from the inventor themself. Only a patent owner has the exclusive right(s) to exploit (create, use, sell, distribute) the invention(s), in any form.
That is why I asked if it was yours or something you licensed. Sounds like interesting work.
That is why I asked if it was yours or something you licensed. Sounds like interesting work.
-
OldIndyAgent
- Insurance Journal Addict
- Posts: 81
- Joined: Sat Mar 19, 2011 7:07 am
Re: New ISO Form
A Patent is public. The USPTO has already put this in the public domain and the application is public as well. This is why companies commonly don't patent inventions.
Re: New ISO Form
The USPTO has permission to post. You have answered my question though, that was clearly not your work and clearly something you do not have rights or permission to publish or share.
-
OldIndyAgent
- Insurance Journal Addict
- Posts: 81
- Joined: Sat Mar 19, 2011 7:07 am
Re: New ISO Form
This is yours and you know it. You are being sneaky and disingenuous. "This is interesting work"? You posted about an insurance patent and didn't think someone in insurance would look it up?
It is public and you brought it up, and is valid for discussion, and can be reprinted freely. You do have a patent, which no one else can use. Talking about a car, and driving it, two different things.
I was only interested because most insurance patents are bogus as I feel this one is, and would not stand up to a challenge in USPTO court. Seeing at this applies to telematics, and there are about a ZILLION patents on that in insurance going back 30 years or more, I would say that its has a snowballs chance in the Sahara.
It is public and you brought it up, and is valid for discussion, and can be reprinted freely. You do have a patent, which no one else can use. Talking about a car, and driving it, two different things.
I was only interested because most insurance patents are bogus as I feel this one is, and would not stand up to a challenge in USPTO court. Seeing at this applies to telematics, and there are about a ZILLION patents on that in insurance going back 30 years or more, I would say that its has a snowballs chance in the Sahara.