Mississippi State Rating Bureau

What Mississippi State Rating Bureau does

Mississippi State Rating Bureau (MSRB) is a non-profit corporation established on April 9, 1924 under Senate Bill No. 126, headquartered at 6455 Wirtz Road in Flowood, Mississippi. It serves as the state's legislatively designated fire insurance rating bureau, providing rating services to approximately 639 member insurance companies that write Fire and Allied Lines Insurance in Mississippi. The organization operates three functional departments — Rating, Public Protection, and Audit — that collectively evaluate fire protection conditions (fire departments, water supplies, commercial properties) and produce the loss costs, Protection Class designations, and property reports used by carriers underwriting property coverage in the state.

MSRB's product set comprises loss cost data, commercial property reports, sprinkler reports, Protection Class information, a GIS-based Protection Class lookup tool, and participation in the BCEGS (Building Code Effectiveness Grading Schedule) program. Data is collected through field work and is delivered to member insurers via a web portal and API access, indicating a recent technology-modernization layer over what was historically a paper-based rating infrastructure. The organization does not extend its rating services outside Mississippi.

MSRB is funded entirely through annual assessments levied on its member companies, with each member's assessment proportionate to the premiums it writes in Mississippi for covered lines. No local, state, or federal funds are used. Membership is mandatory for any insurer writing Fire and Allied Lines Insurance in the state, making the assessment effectively a regulatory cost of market participation. The organization employs between 11 and 50 people and has no disclosed funding rounds, M&A activity, or recent leadership transitions.

Name

Mississippi State Rating Bureau

Legal name

Mississippi State Rating Bureau

Website

https://msratingbureau.com

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

11–50 employees

Short description

Mississippi State Rating Bureau is a 1924-established non-profit rating bureau that provides fire insurance rating, loss cost, and Protection Class data to approximately 639 mandatory member insurers in Mississippi, funded by premium-based assessments.

Ownership category

akta.pro rank

Product category

Property Insurance Rating Services

NAICS

Justice, Public Order, and Safety Activities (922), Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (92615)

akta.pro primary industry

Environmental Protection Agencies & Environmental Health Departments (HLAJAFAA)

akta.pro secondary industry

Environmental Compliance Audits & Management System Audits (EHS Audits, ISO 14001/45001 Compliance Audits) (EUAHABAF)

Keywords

• Property insurance rating
• Advisory loss costs
• Fire protection classification
• Municipal fire grading
• BCEGS administration

Headquarters

HQ city

Jackson

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Distribution channels3 records

Marketing channels2 records

Core offering

Mississippi State Rating Bureau is a non-profit, public service rating organization that establishes equitable property insurance advisory loss costs, conducts municipal and fire district public protection surveys, administers the BCEGS building code grading program, and optionally audits property insurance policies for its member insurance companies in Mississippi. Operations are organized into three departments — Rating, Public Protection, and Audit — and funded entirely by annual assessments on member companies based on premiums written in the state.

Product overview

Mississippi State Rating Bureau operates as a non-profit corporation providing insurance rating and fire protection classification services. The organization consists of three core departments: Rating Department (establishing property insurance advisory loss costs, reviewing sprinkler plans), Public Protection Department (surveying municipalities and fire districts, administering the BCEGS program), and Audit Department (auditing property insurance policies). MSRB offers member insurance companies access to loss cost information, commercial property reports, sprinkler reports, and protection class data through its website and API. The organization serves approximately 639 member insurance companies and is governed by a Board of Directors comprised of nine members elected from member companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Rating Department Services Establishes equitable property insurance advisory loss costs through on-site surveys and in-office procedures, reviews plans and specifications for property owners, reviews automatic sprinkler plans, and performs actuarial work for rate level review for member insurance companies and property owners in Mississippi.
• Public Protection Department Services Conducts on-site surveys of Municipalities and Fire Districts to establish or improve Public Protection classifications as a basis for determining fire insurance rates, advises on water supplies and fire hydrant distribution, attends public and municipal meetings on fire protection, and assists with witnessing tests of new fire trucks for municipalities, fire districts and engineers.
• Audit Department Services Optional auditing of property insurance policies to confirm that construction and location are properly described, correct forms and rates are used, and the premium charged is correct; coding of insurance documents for accurate statistical information; and calculation of Blanket Average Rates/Loss Costs and Public and Institutional Property (PIP) Average Rates/Loss Costs based on submitted Statements of Values.
• Advisory Loss Cost Information Reports Provides advisory loss cost information on properties in Mississippi to member insurance companies for use in establishing fire and allied lines insurance rates.
• Commercial Property Reports Provides commercial property reports to member insurance companies for property rating purposes in Mississippi.
• Sprinkler Reports Reviews sprinkler plans and issues sprinkler reports to property owners and member insurance companies to confirm standard installation and adequate fire protection.
• Protection Class Data Provides protection class data on properties in Mississippi to member insurance companies for fire insurance rating.
• MSRB GIS Protection Class Tool Web-based GIS tool that allows member company users to look up protection class location information for properties in Mississippi, accessed via the MSRB Member Services menu.
• BCEGS (Building Code Effectiveness Grading Schedule) Program Administers and conducts the Building Code Effectiveness Grading Schedule program for Municipalities, Counties and other jurisdictions in Mississippi, grading building codes for use as a basis for fire insurance rating.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights2 records

Others

• Insurance Information Institute (Triple-I): Triple-I is an industry-supported nonprofit that produces insurance education, research, and statistical data. While not a rating bureau, it shares MSRB's nonprofit, member-supported orientation and operates in adjacent insurance data and education territory.
• National Association of Insurance Commissioners (NAIC): NAIC coordinates state-level insurance regulation in the U.S. and sets the regulatory framework within which MSRB operates. It is not a direct competitor but represents the broader regulatory ecosystem that defines MSRB's statutory operating environment.

Broad incumbents

• Marsh McLennan: Marsh McLennan is a global insurance brokerage and consulting firm whose practices rely on and influence the rating bureau ecosystem MSRB operates within. Its scale and data investments represent the commercial end of the property insurance value chain MSRB supports.
• Aon: Aon is a global insurance brokerage and advisory firm whose reinsurance and risk consulting practices interact with rating bureaus like MSRB. It represents the broader commercial incumbent that procures and competes around the same underlying property risk data MSRB produces.
• Verisk Analytics: Verisk acquired ISO and now offers the broader insurance analytics, fraud detection, and specialty rating platforms that compete with MSRB's data assets. It is the dominant commercial incumbent in the property/casualty data and analytics category MSRB occupies.

Direct peers

• National Council on Compensation Insurance (NCCI): NCCI is a rating and statistical advisory organization for workers compensation insurance, analogous to MSRB for fire and allied lines. Both are member-funded, nonprofit entities that produce advisory rates/loss costs and classification data for insurers in their respective lines.
• Mutual Service Office (MSO): MSO provides rating and statistical services to mutual insurance companies, similar in function and nonprofit, member-funded structure to MSRB. It addresses a narrower carrier segment but operates in the same category of bureau-style rating organizations.
• Insurance Services Office (ISO): ISO is the national equivalent of MSRB, providing advisory loss costs, rating data, and statistical services to property/casualty insurers. Now part of Verisk, ISO serves the same function MSRB serves in Mississippi but at a national scale across commercial and personal lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mississippi-state-rating-bur

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mississippi State Rating Bureau