2025-11-13T22:02:11-06:00 2024-12-31 PWC US TAX LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2024-07-01 320780293 INSURANCE RESEARCH COUNCIL % DOUG HYMAS INSU 6106442100 720 PROVIDENCE ROAD MALVERN PA 19355 PETER L MILLER PRESIDENT & CEO 6106442100 2025-11-11 true true ALBERT N ANTONELLI P01496650 2673303000 2025-11-08 2024 2025-03-06 01:10:19Z X PETER L MILLER 720 PROVIDENCE ROAD MALVERN PA 19355 572405 false X WWW.INSURANCE-RESEARCH.ORG X 2024 DE Insurance Research Council (IRC) is organized and shall be operated exclusively for not-for-profit and informational purposes for the benefit of its members and those involved or interested in the risk management and insurance industry. 3 0 0 32 0 0 0 0 0 572405 0 0 0 0 0 572405 0 0 0 0 0 0 0 0 0 0 1161862 0 1161862 0 -589457 0 6978 0 596435 0 -589457 X IRC is organized and shall be operated exclusively for not-for-profit educational and informational purposes for the benefit of its members and those involved or interested in the risk management and insurance industry. false false IRC primarily conducts three types of research to suit the needs of the insurance industry and the general public. Public Opinion Surveys: IRC regularly conducts nationwide probability sample surveys, both in-home and telephone, to obtain timely public opinion information on critical issues that affect insurance companies, their policyholders, and the society at large. For example, the Council has conducted Public Attitude Monitor (PAM) surveys, measuring public attitudes and beliefs on a wide range of topics related to risk and insurance. Topics vary but the report surveys public attitudes on issues such as insurance fraud, earthquake insurance, the cost of auto insurance, drinking and driving, speed limits, traffic safety, workers' compensation, attorney advertising, and auto insurance rating systems. Analysis of Insurance Statistical Experience: IRC performs analysis on data compiled by licensed statistical agents (ISO, National Association of Independent Insurers, NISS) to examine the statistical experience of property-casualty insurers and to reveal patterns in insurance claims. For example, the Council undertook a study to examine the latest trends in injury and property damage claims associated with auto accidents. It analyzed claim frequency, severity and average loss cost for each state over time, as well as comparative data on every rating territory in the U.S. It also utilized new means of comparing the costs associated with the various automobile insurance compensation systems in place in the states and demonstrated the connection between cost increases and premium increases. Close Claim Studies: IRC conducts a national closed claim study on auto injuries. It investigates major changes in the number and kinds of injuries being reported in automobile crashes in the U.S., the kinds and amounts of medical treatment obtained by injured persons, the insurance payments received, and the cost of providing auto insurance to vehicle owners. false false false true false false false false false false false false false false true false true false false false false false false false false false false false true false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false X 3 0 false false false false true true true true true false false true true true true true true false false false X DOUG HYMAS 6106442100 720 PROVIDENCE ROAD MALVERN PA 19355 PETER L MILLER CEO 2.0 51.0 X X 0 2965200 244092 KATHERINE E HOROWITZ SECRETARY 2.0 51.0 X X 0 1005941 64978 JEFFREY A SCHEIDT TREASURER 2.0 51.0 X X 0 533367 69178 0 4504508 378248 0 false true false AICPCU 720 Providence Road MALVERN PA 19355 SHARED RESOURCES 1161862 1 0 MEMBERSHIP DUES 813920 572405 572405 572405 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 572405 572405 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 21380 21380 0 0 0 0 0 0 0 0 SHARED RESOURCE SERVICES 1140482 1140482 1161862 1161862 0 0 0 0 0 0 0 6978 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6978 0 596435 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 596435 X 0 -589457 0 0 0 -589457 0 6978 -589457 X false true X true false false true false 0 0 X SCHEDULE D, PART X, LINE 2 THE INSTITUTES IS A NONPROFIT ORGANIZATION AND MEETS THE GUIDELINES OF TAX-EXEMPT ORGANIZATIONS UNDER THE APPLICABLE SECTIONS OF THE INTERNAL REVENUE CODE AS STATED IN NOTE 1. THE INSTITUTES FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, THE INSTITUTES ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATION BY THE U.S. FEDERAL OR STATE TAX AUTHORITIES FOR YEARS BEFORE 2021. MANAGEMENT BELIEVES THAT EACH ENTITY HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE INSTITUTES WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. false true false PETER L MILLER CEO 0 1372352 1200000 392848 230199 13893 0 3209292 130157 KATHERINE E HOROWITZ SECRETARY 0 605581 400000 360 49833 15145 0 1070919 JEFFREY A SCHEIDT TREASURER 0 404806 125000 3561 55199 13979 0 602545 FORM 990, SCHEDULE J, PART I, LINE 3 AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION, WHICH USES ONE OR MORE OF THE METHODS DESCRIBED ON LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS. FORM 990, SCHEDULE J, PART I, LINE 4B A RELATED ORGANIZATION, THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS, MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (THE "PLAN") SUBJECT TO INTERNAL REVENUE CODE SECTION 457(F). UNDER THE PLAN, THE ENTIRE ACCRUED BENEFIT BECOMES 100% VESTED AFTER 3 YEARS OF SERVICE. PARTICIPANTS MUST REMAIN IN CONTINUOUS EMPLOYMENT FOR TWELVE (12) CONSECUTIVE MONTHS TO RECEIVE CREDIT FOR ONE (1) YEAR OF SERVICE. AN ACCRUED BENEFIT UNDER THE PLAN SHALL BE DISTRIBUTED ON THE DATE OR DATES ON WHICH THE ACCRUED BENEFIT BECOMES VESTED. TERMINATION OF SERVICES WILL RESULT IN FORFEITURE. PETER MILLER ACCRUED A BENEFIT OF $175,000 UNDER THE PLAN DURING CALENDAR YEAR 2024 AND THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II. ADDITIONALLY, MR. MILLER RECEIVED A DISTRIBUTION FROM THE PLAN IN THE AMOUNT OF $390,472, WHICH REPRESENTS THE AMOUNT THAT BECAME VESTED IN 2024. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). FORM 990, PART VI, SECTION A, LINE 1A EFFECTIVE OCTOBER 10, 2024, THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES") AND THE INSURANCE RESEARCH COUNCIL ENTERED INTO AN AFFILIATION AGREEMENT AND A SHARED RESOURCES AGREEMENT ("SRA"). THE INSTITUTES PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO THE INSURANCE RESEARCH COUNCIL IN ACCORDANCE WITH WRITTEN BYLAWS, OPERATING GUIDELINES AND PROCEDURES, BUDGET, AND PROVIDES CERTAIN SERVICES AS PRESCRIBED BY THE SRA. FORM 990, PART VI, SECTION A, LINE 6 The organization has three classes of memberships, Carrier Members, Associate Members, and Institutional Member. Only the Institutional Member has voting rights. FORM 990, PART VI, SECTION A, LINES 7A AND 7B THE INSURANCE RESEARCH COUNCIL'S INSTITUTIONAL MEMBER, THE AMERICAN INSTITUTE OF CPU, APPOINTS THE DIRECTORS OF THE INSURANCE INFORMATION INSTITUTE, INC. AND APPROVES ANY EXTRAORDINARY ACTIVITIES (MERGERS, DISSOLUTION, ETC.). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE BOARD OF DIRECTORS FOR APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ("COVERED OFFICIALS") ON AN ANNUAL BASIS. EACH COVERED OFFICIAL MUST COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT OF DISCLOSURE. IF A CONFLICT IS IDENTIFIED, IT IS EVALUATED AND MAY BE APPROVED IF IT IS DETERMINED TO BE JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. IF IT IS DETERMINED THAT THE CONFLICT IS NOT JUST, FAIR, AND REASONABLE TO THE ORGANIZATION, APPROPRIATE ACTION IS TAKEN TO ELIMINATE THE CONFLICT, WHICH CAN INCLUDE ASKING THE INDIVIDUAL TO END A CONFLICTING BUSINESS ARRANGEMENT, RETURN REMUNERATION TO THE ORGANIZATION, OR OTHERWISE DISCONTINUE THE ARRANGEMENT CAUSING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THIS ORGANIZATION IS AN AFFILIATE OF THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES"). COMPENSATION ARRANGEMENTS INVOLVING ANY OF THE ORGANIZATION'S OFFICERS AND/OR KEY EMPLOYEES ARE ESTABLISHED BY THE INSTITUTES PURSUANT TO A PROCESS THAT SATISFIES THE REBUTTABLE PRESUMPTION PROCEDURE AVAILABLE FOR IRC SECTION 4958 EXCESS BENEFIT TRANSACTION TAX PURPOSES, WHICH REQUIRES A REVIEW OF COMPENSATION DETERMINATIONS BY DISINTERESTED PERSONS, USE OF APPROPRIATE COMPARABILITY DATA, AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS. FORM 990, PART VIM SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. AICPCU 720 Providence Road Malvern PA 19355 231352012 EDUCATION PA 501(C)(3) 10 NA false SOCIETY OF CHARTERED PROPERTY & CASUALTY 720 Providence Road Malvern PA 19355 231552247 MEMBER ASSOC. 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