ISO Insurance Forms Guide

An ISO commercial property coverage form providing the broadest coverage, insuring against all risks of direct physical loss except those specifically excluded. Also known as 'all-risk' or 'open perils' coverage.

An ISO commercial property coverage form providing the most limited coverage, insuring only against specifically named perils such as fire, lightning, explosion, windstorm, hail, smoke, aircraft, vehicles, riot, vandalism, and sprinkler leakage.

An ISO commercial property coverage form providing mid-level coverage between Basic and Special Forms, covering all Basic Form perils plus additional perils like falling objects, weight of snow/ice/sleet, and water damage.

Insurance Services Office - an organization that develops standardized insurance policy forms, rating information, and risk data used by property-casualty insurers across the United States.

A standardized form used to modify, add, or delete coverage provisions in an ISO policy, identified by form numbers (e.g., CG 21 39 for Additional Insured endorsement).

A non-standard insurance policy specially drafted to meet unique coverage needs, as opposed to standardized ISO forms. Often used for complex or unusual risks.

Association for Cooperative Operations Research and Development - an organization that develops standardized forms and data standards for the insurance industry, widely used for certificates of insurance and policy applications.

A group supported by member insurance companies whose function is to gather loss statistics, develop loss costs and rating information, and make this data available to members. Advisory organizations also file rates on behalf of smaller insurance companies and develop standardized policy forms. Examples include the Insurance Services Office (ISO) and the National Council on Compensation Insurance (NCCI). These organizations provide actuarial services, research, and statistical analysis that help insurers price policies accurately and comply with regulatory requirements. Unlike rating bureaus of the past, modern advisory organizations provide information and recommendations but do not set mandatory rates; each insurer makes independent pricing decisions based on the advisory data.