Regulatory Compliance

Proxix Regulatory Compliance is a compilation of databases that provides insurance companies the accurate information needed to meet compliance demands. With Proxix Regulatory Compliance, insurance companies can:

• Improve loss ratio
• Increase accuracy and productivity
• Reduce compliance liabilities

For an automated enterprise risk solution, insurers can integrate Regulatory Compliance into CATUM.

Municipality/Township

Current and correct municipal and township boundary files are critical building blocks for achieving accurate premium tax, rating territory and windpool assignments. Our files are updated quarterly capturing the new annexations and de-annexation information.

Premium Tax

Currently 18 states levy premium tax at a local level (city, county or fire district), which does not conform to ZIP Code boundaries. Proxix's Premium Tax Database assigns tax jurisdictions based on the street address and compares the relation between its physical location to jurisdictional boundaries delivering the highest level of accuracy.

The following states are available:

• Alabama
• California
• Delaware
• Florida
• Georgia
• Illinois
• Kentucky
• Louisiana
• Maryland
• Minnesota
• Mississippi
• New Jersey
• New York
• North Carolina
• North Dakota
• Pennsylvania
• South Carolina
• West Virginia

Rating Territories

Rating territories are supposed to be a tool that insurers use to better segment their book of business. Many insurers' rating territories however are antiquated and incorrect. Proxix converts text descriptions of rating territories to a digital format and aligns them to geographic boundaries that eliminate the 10-40% error rate inherent in postal lookup tables.

Windpool

Proxix Windpool identifies the high-risk coastal areas that are susceptible to wind and hail damage for the eight Gulf and Southeast Atlantic states that have mandated “shared-risk” market areas for insurance coverage. Using detailed geographic and parcel boundary data, Proxix Windpool provides the precise locational information that insurance companies need to determine if a property is located in an eligible windpool areas.