City of Morganfield’s ISO rating has dropped, meaning residents could possibly see a reduction in insurance coverage rates.
Morganfield Fire Department Chief Rick Millikan says they have just completed a Public Protection Classification Survey conducted by the Insurance Services Office, or ISO, that plays an important role in the underwriting process at insurance companies. In fact, Chief Millikan indicates most insurers – including the largest ones – use PPC information as part of their decision-making when deciding what business to write, coverages to offer or prices to charge for personal or commercial property insurance.
During the review process evaluators the communities fire department, 911 Emergency Communications and Water Supply System to determine the final community classification. Chief Millikan reports the City of Morganfield, the Morganfield Fire Department and Union County 911 scored 60.67 out of a possible 105.5 points that enabled them to drop their ISO rating from a previous 5 classification to a 4 classification. He indicates this in on a nationwide grading scale from 1 – 10 with 10 being no fire protection and 1 being outstanding. In Kentucky, Chief Millikan states there are 249 communities with a Class 5 rating compared to 149 with a Class 4, 78 with a Class 3, 28 with a Class 2, and 7 with a Class 1.