The Association of Independent Insurance Rating Bureaus (AIIRB) represents the 6 independent, state-based property insurance rating organizations of
Hawaii, Idaho, Louisiana, Mississippi, North Carolina and Washington.
Each of these organizations has (or shares, to varying degrees, with ISO) filing authority for property loss costs, rules and forms. Independent Bureaus maintain knowledgeable, experienced field staff who perform underwriting surveys of property and communities and who develop advisory loss costs, Building Code Effectiveness Gradings, Protection Classifications and Underwriting Reports for individual properties and communities. They are not-for-profit entities and required by law to provide advisory loss costs that are neither excessive nor inadequate, nor unfairly discriminatory.
In addition to being not-for-profit, the Bureaus generally are organized as public service organizations. They provide advice, information services, engineering and consulting services free of charge to municipalities, fire departments and the insuring public. The goal is to encourage sound fire prevention and suppression practices and reduce the loss of life and property due to fire.
Although the individual Bureaus have their differences and state-specific laws and regulations they must follow, each one recognizes that the industry landscape is changing - insurer data requirements are changing, regulatory requirements are changing, the process of insurance is changing. Insurers and their data partners are working together to achieve many of the goals once thought nearly impossible – SEMCI, straight-through processing, truly automated underwriting – and the Independent Bureaus are no exception. The Association of Independent Insurance Rating Bureaus is involved in the development and integration of ACORD standards for property insurance inspection and rating, so that critical information required to accurately price and underwrite a risk can be automatically retrieved from AIIRB members and ISO through a standard interface. From carriers that want to verify ACORD submissions to those employing sophisticated predictive models, the need is great for timely and automated access to accurate data about risk. The AIIRB exists to serve that need.