New Evaluation Improves Osceola County’s ISO Rating
Published on: Oct 6, 2014
Osceola County, Florida – A new and improved rating by the Insurance Service Organization, Inc. (IS0) could translate into reduced insurance premiums for approximately 20,000 residents and businesses in Osceola County. The new ISO rating will take effect January 1, 2015. The January 1st date will allow residents and proprietors the opportunity to contact their insurance company representative so that they may research eligibility for an insurance premium adjustment.
Osceola received a 3/10 rating – which was even better than anticipated as many of those previously were rated a 9 – through ISO’s Public Protection Classification Program. The evaluation is the first in 10 years and indicates improvements made in that time, officials said. The company is transitioning to community evaluations every five years, which could lead to improved immediacy in future ratings.
“It’s really a big deal for a county fire department to get a three,” said Commissioner Chairman Fred Hawkins, Jr. “This evaluation is a great starting point for us. Now, it’s important for residents to know that they must call their insurance agent to see if they qualify for a rate reduction as a result of the new rating.”
As part of the comprehensive review, Osceola County had its tanker shuttle operations evaluated to see if it would qualify as an alternative water supply, thereby helping improve county’s score. It did.
“I’m proud of the work and hard work put in by our crews – particularly in earning the tanker shuttle credit – to gain this rating,” said Fire Chief Robert Sorenson. “The ISO program provides us a valuable benchmark, which can be used going forward as we evaluate the level of service delivered to residents.”
To determine Osceola County’s eligibility for recognition of a tanker shuttle as an alternative water supply, Fire Rescue had to demonstrate that the water delivery system would be available 365 days a year and provide 250 gallons per minute for a 2-hour duration within 5 minutes of the arrival of the first apparatus.
During the evaluation it was determined that the only district that was unable to meet the minimum requirements was Station 57, in Kenansville. But the county recently purchased a 2008 tanker truck to fill this need, paving the way for the better overall rating.
“It made sense to make a simple purchase, because our investment will have such a wide-ranging impact for all of our citizens,” said Commissioner John Quiñones. “This is a great example of how prudent spending of government funds can result in a savings for our taxpayers.”
ISO is the leading supplier of data and analytics for the property/casualty insurance industry, and ISO’s Public Protection Classification Program plays an important role in the underwriting process at insurance companies. ISO rates the community as a whole, with individual insurance companies developing premiums based upon that community score.
Properties potentially eligible for savings by commission district
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