RiskMeter Responds to Delaware DOI Request by Providing Electronic GIS Tax Services to P&C Insurers

Oct. 4, 2012 - PRLog -- Boston, MA,  – RiskMeter Online, a provider of real-time natural hazard risk reports, today announced it is now providing electronic Geographic Information System (GIS) software to help Property & Casualty Insurance companies doing business in Delaware to accurately report fire taxes.  

In a recent bulletin, the Delaware Insurance Commissioner has been alerted that there have been errors reporting the geographic allocation of premium for fire taxes.  One of the biggest factors was basing the allocation of premiums on zip codes, which can cross county lines and leads to inaccurate reporting. RiskMeter uses state-of-the-art mapping and geocoding technology that matches properties to the parcel, so agents and underwriters can get the correct answer.

The Delaware Department of Insurance has now instructed Property & Casualty insurers that they must use electronic GIS software to accurately allocate and report premiums written on risks in Delaware.

Despite best intentions, assigning policies to the wrong tax jurisdictions has been a major issue for insurers who write business in Delaware and other states as well.  RiskMeter has automated this process and by simply typing in an address or uploading a book of business, RiskMeter can assign the proper jurisdiction to each policy.  The same service is offered in all states where premium taxes must be allocated, including FL, KY, NY, etc.

For more information about RiskMeter’s premium tax services, please contact Dan Munson, Founder, RiskMeter Online at 617.737.4444 or dmunson@cdsys.com

About RiskMeter.com
RiskMeter Online is used by underwriters and agents to automate property lookups. This Web-based solution utilizes Internet mapping technology to enable underwriters to determine the proximity to natural hazards for any property in the Unites States. It’s far more accurate and faster than any other method for determining property risk, and can save underwriters considerable time and money. The RiskMeter Online provides over 30 real-time reports, including Distance to Coast, FEMA Flood Zones, Rating Territories, Windpool Eligibility, EQECAT Data & Analytics, Individual AAL & PML Reports, Earthquake information and much more.