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MSRB
is a non-profit
corporation governed by a Board of Directors or Executive Committee comprised of
nine members elected from Member Companies. The management of the Bureau is
responsible to the Executive Committee.
Each insurance company
licensed to write Fire and Allied Lines Insurance in the state is required to be
a member of the Bureau. There are approximately 639 Member Companies. The Bureau
is supported through an annual assessment of its Member Companies based on the premiums written in the state. No Local, State or
Federal funds are used for the operation of the Bureau.
MSRB
was established on
April 9, 1924, when Senate Bill No.126 was enacted into law. The basic functions
of the Bureau have remained constant. House Bill No.1000, effective January
1, 1988, made the auditing of policies on an optional basis.
MSRB consists
of the Rating, Public Protection, Audit and Accounting Departments.
Additionally, the Bureau is charged with the operations of the Mississippi
Windstorm Underwriting Association and the Mississippi Residential Property
Insurance Underwriting
Association.
General
Functions
Rating
Department
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Establish equitable property insurance
advisory loss costs by on-site surveys and in-office procedures. |
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Review plans and specifications for property
owners with the recommendations to obtain minimum advisory loss costs. |
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Review automatic sprinkler plans to assure
property owners of a standard installation for adequate fire protection. |
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Actuarial work in completing Rate Level Review
information and data. |
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Visiting with property owners, insurance
agents and company representatives for property rating and/or re-rating
purposes. |
Public
Protection
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On-site
survey of Municipalities and Fire Districts to establish or improve Public
Protection classifications as a basis for determining fire insurance rates. |
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Provide
improvement statements to Municipalities and Fire Districts for improved
public fire protection or possibly a better public fire protection classification. |
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Holding
and attending public and municipal meetings pertaining to public fire
protection. |
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Assist
and witness tests of new Municipal and Fire District fire trucks. |
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Advise
Municipalities, Fire Districts and Engineers concerning water supplies and
fire hydrant distribution. |
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Administer
and conduct the Building Code Effectiveness Grading Schedule for
Municipalities, Counties and other jurisdictions in Mississippi. |
Audit
Department
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Auditing
of property insurance policies on an optional basis to determine that the
construction and location are properly described, correct forms and rates
are used and the premium charged is correct. |
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Coding
of insurance documents on an optional basis, for use in determining
accurate statistical information. |
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Calculation
of Blanket Average Rates/Loss Costs based on submitted Statement of Values. |
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Calculation
of Public and Institutional Property (PIP) Average Rates/Loss Costs on
submitted Statement of Values. |
Other
Bureau
Functions
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Preparation
and filing with the Mississippi Insurance Department of various coverage
and rating plans and changes for Fire and Allied Lines Insurance coverage. |
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Compilation,
publication and distribution of various Fire and Allied Lines Insurance
rates/loss costs, forms and manuals to agents, companies and their representatives. |
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Advising
agents, insurance companies and their representatives of changes in Public
Protection Classification Gradings, extension of city limits and the
creation and changes in Fire Districts. |
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Overseeing
and managing the operation of the : |
Mississippi
Windstorm Underwriting Association (MWUA)
Mississippi
Residential Property Insurance Underwriting Association (MRPIUA)
May
We
Be
Of
Service
To
You
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If you know of a way or have an
idea as to how we may better serve you or improve our services as an
insured, agent, or company, we certainly appreciate and welcome your input
and suggestions. Please feel free to contact us. We welcome you to visit
us at our office located at 2685 Crane Ridge Drive, Jackson,
Mississippi. Our office hours are 8:00 A.M. to 4:30 P.M., CST,
Monday through Friday. |
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The Bureau is a Public Service
Organization and every citizen of the state should take advantage of its
many services. |
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The Mississippi State Rating
Bureau in its neutrality position between the insurance purchasing public
and the insuring companies has and will continue to provide Fire and
Allied Lines Advisory Loss Costs and related services on a fair and
non-discriminatory basis. |
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Please contact us by the
following:
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Mississippi
State Rating Bureau
2685
Crane Ridge Drive
P
O Box 5231
Jackson,
Mississippi 39296-5231
Phone
(601) 981-2915
Loss
Costs Only (601) 981-2929
Fax
(601) 981-2924
E-Mail
: msrb@msratingbureau.com
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