M-10 - ISO attachment memo

From the desk of - Fire Marshal Bill Erb ISO’s Public Protection Classification Program (PPC) plays an important role in the underwriting process for insurance companies. Insurers use PPC information as part of their decision-making when determining what coverage to offer or prices to charge for personal or commercial property insurance. Each insurance company independently determines the premiums it charges its policyholders. The way an insurer uses ISO’s information on public fire protection may depend on several factors – the company’s fire-loss experience, ratemaking methodology, underwriting guidelines, and its marketing strategy. Last year I had reported that I contacted several local insurers and was told that upgrading our current rating by one PPC could drop insurance premiums by up to 14%, which varies by insurer. In conclusion, PPC provides us with benchmarks that are used as a valuable tool when planning, budgeting, and justifying future fire protection improvements. This important accomplishment would not have been possible without the hard work and dedication of our membership. I would like to thank each one of our members for helping our department achieve this important milestone. I would like to take a moment to thank the Mayor, City Council, and the City Administrator for your continued support of the Fire Department. A special thanks goes out to the employees of the City of Tiffin Water Department for gathering information for the analysis of the water supply. If you have any questions or would like to review the report, please feel free to contact me. 211 Main Street • Tiffin, IA 52340 • (319) 545-2572 • [email protected]