What type of forms are created by ISO and are considered standard in the insurance industry?

The correct answer is that control forms are created by the Insurance Services Office (ISO) and are regarded as standard in the insurance industry. Control forms refer to standardized forms that help streamline and regulate various processes within the insurance sector, establishing a consistent framework for both insurers and policyholders.

These forms play a crucial role in ensuring that insurance policies are written, administered, and understood uniformly across different providers, which ultimately enhances efficiency and clarity for all parties involved. The use of control forms helps in minimizing discrepancies and misinterpretations that may arise from using non-standardized documents.

In contrast, personal liability forms are specific to individual policies and may vary from company to company, not serving a common industry-wide standard. Application forms are generally used to gather information from potential policyholders and can also differ based on the insurer's requirements. Claims forms pertain to the process of filing for benefits or reimbursements after an incident occurs and, similar to application forms, can differ by insurer. Therefore, while all these forms serve essential functions within the insurance process, only control forms are created by ISO and recognized as standard across the industry.