An organization that collects statistical data (such as premiums, exposure
units, and losses), computes advisory rating information, develops standard
policy forms, and files information with regulators on behalf of insurance
companies that purchase its services. Years ago, insurers were required by law
in most states to belong to the designated rating bureau and to use its rates
and policy forms. Today, however, these organizations serve in an advisory
capacity for most services and most coverage lines; generally, insurers are
free to use their products and services as they see fit. The best known rating
bureaus are National Council on Compensation Insurance (NCCI) (for workers
compensation insurance), the Surety Association of America (SAA) (for surety
bonds and crime insurance), Insurance Services Office, Inc. (ISO) (for most
commercial and personal lines other than workers compensation insurance), and
American Association of Insurance Services, Inc. (AAIS) (for many commercial
and personal lines other than workers compensation).