NIAS

Presently, NIAS, Inc. is the sole nationwide provider of a turnkey data system that has been validated by a state insurance department to permanently lower experience modifiers averaging 27 points... NIAS, Inc. was founded by James B. Conant in 1979 to fill a need. First, during the early 1900's when the experience modifier was developed by the NCCI, it was quickly discovered that the calculation had a severe flaw. Because the numerator is the driver of the modifier, overstated total incurred losses resulted in high experience modifiers. Second, insurance carriers could set reserves wherever they felt comfortable. Without input from the insured, the result could be interpreted as price fixing. The solution was to enact state laws and insurance department administrative rulings allowing the insured once each year, know as unit statistical filing, to ask the insurer to tie total incurred losses (the numerator) with actual claim file documents at that moment in time. This eliminated any..

Also known as: NIAS, Inc.