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The Impact of Improved Public Protection Classification Ratings on Homeowners’ Insurance Rates ... - page 9 / 9





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Carolina and a Master of Public Administration from the University of North Carolina at Chapel Hill. Prior to joining the Institute, Mr. Bondo worked for the United States Government Accountability Office in Washington, DC.

Mr. Tomes earned his B.S. from Florida State University and a Masters in Human Resources from the University of South Carolina. He worked at the Institute for Public Service and Policy Research from 1986 to 1989 before working as a human resources professional in both the Florida and South Carolina state governments for ten years. Mr. Tomes rejoined the Institute in 1998. He has conducted training programs and written book chapters and articles on various human resource topics. At the Institute, he manages the professional certification programs for the Government Finance Officers Association of South Carolina and the Institute for Departmental Management. He also directs technical assistance projects for the Institute and serves as a faculty member for the Institute’s various professional development programs.


1 ISO describes itself as “a leading source of information about risk. Products and services help customers measure, manage, and reduce risk. And we're the property/casualty insurance industry's leading supplier of statistical, actuarial, underwriting, and claims data.” Retrieved April 16, 2007 from http://www.iso.com.

2 3 4 5 6 Insurance Services Office. (2001, July – September). Virginia Department of Fire Programs Quarterly, p. 20. Ganglugg, C. (2000, August). Report of rural fire protection. Roland, AR: Rural Fire Protection Program, p. 3. Ibid, pp. 32-37. Op. Cit. Ganglugg, C. (2000, August). p. 4 League of Minnesota Cities. (n/d). LMCIT risk management information. St. Paul, MI: The ISO Fire Protection Rating System, p. 3.

7 8 9 Stevens, L. (1998, January). A tale of two ratings, (Part One). Fire-Rescue Magazine, p. 60. Ibid. The Department was established in 1908 and is an agency of the Governor's Cabinet. It presently has regulatory responsibility over 1,450 insurance companies and over 50,000 agents, brokers, adjusters, appraisers, and bail bondsmen. Retrieved April 16, 2007 from https://www.doi.sc.gov/Eng/Public/Aboutscdoi/mission.aspx.

10 Residential properties include single-family or duplex structures. Multi-family dwellings, such as apartment complexes, are considered commercial by the insurance industry.

11 The Insurance Reserve Fund is an Office of the South Carolina State Budget and Control Board. The Insurance Reserve Fund functions as a governmental insurance operation with the mission to provide insurance specifically designed to meet the needs of governmental entities at the lowest possible cost. The Insurance Reserve Fund operates like an insurance company, by issuing policies, collecting premiums (based on actuarially calculated rates), and by paying claims from the accumulated premiums in accordance with the terms and conditions of the insurance policies it has issued. Retrieved April 16, 2007 from http://www.irf.sc.gov.


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