The Insurance Regulatory Information System (IRIS) is a database of Insurance companies in the United States run by the National Association of Insurance Commissioners. IRIS is designed to provide information about insurers' financial solvency.
[edit] Rating Method
IRIS uses the financial statements of the insurer to calculate a series of financial ratios, which are then taken as a measure of the insurer's overall financial condition. If the ratios do not fit into a predetermined range, then IRIS may identify the company for regulation by appropriate authorities.
The system acts as an early-warning protection, which aids state insurance departments to pick out those companies that show financial problems. The ratios are merely guidelines, though: often a financial disaster comes without warning, or defies prediction.
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