July 27, 2018
By Daniel Sutter
Economist Daniel Sutter says fire protection ratings show how markets can ensure the quality of our services. Photo by Connor Betts on Unsplash.
Troy’s fire department rating will improve this October, which should lower our insurance rates. Fire protection ratings show how markets can ensure the quality of our services. They also provide an example of value creation as opposed to compliance-driven documentation.
The Insurance Services Office’s (ISO) Fire Suppression Rating Schedule dates back to 1909. Insurance companies…