10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2014

or              

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-34480

VERISK ANALYTICS, INC.

(Exact name of registrant as specified in its charter)

Delaware	26-2994223
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
545 Washington Boulevard Jersey City, NJ	07310-1686
(Address of principal executive offices)	(Zip Code)

(201) 469-2000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Name of each exchange on which registered
Class A common stock $.001 par value	NASDAQ Global Select Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  þ  Yes    ¨  No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.   ¨  Yes    þ  No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     þ   Yes    ¨  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    þ  Yes     ¨  No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.      ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

þ  Large accelerated filer	o  Accelerated filer	o  Non-accelerated filer	o  Smaller reporting company
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    ¨  Yes    þ  No

As of June 30, 2014, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $9,119,385,502 based on the closing price reported on the NASDAQ Global Select Market on such date.

The number of shares outstanding of each of the registrant’s classes of common stock, as of February 20, 2015 was:

Class	Shares Outstanding
Class A common stock $.001 par value	158,108,455

DOCUMENTS INCORPORATED BY REFERENCE

Certain information required by Part III of this annual report on Form 10-K is incorporated by reference to our definitive Proxy Statement for our 2015 Annual Meeting of Stockholders, which will be filed with the Securities and Exchange Commission not later than 120 days after December 31, 2014.

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INDEX

			Page
PART I
	Item 1.	Business	4
	Item 1A.	Risk Factors	15
	Item 1B.	Unresolved Staff Comments	21
	Item 2.	Properties	21
	Item 3.	Legal Proceedings	21
	Item 4.	Mine Safety Disclosures	24
PART II
	Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	24
	Item 6.	Selected Financial Data	26
	Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	29
	Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	45
	Item 8.	Financial Statements and Supplementary Data	46
		Consolidated Balance Sheets	53
		Consolidated Statements of Operations	54
		Consolidated Statements of Comprehensive Income	55
		Consolidated Statements of Changes in Shareholders’ Equity (Deficit)	56
		Consolidated Statements of Cash Flows	57
		Notes to Consolidated Financial Statements	59
	Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	46
	Item 9A.	Controls and Procedures	46
	Item 9B.	Other Information	46
PART III
	Item 10.	Directors, Executive Officers and Corporate Governance	47
	Item 11.	Executive Compensation	47
	Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	47
	Item 13.	Certain Relationships and Related Transactions and Director Independence	47
	Item 14.	Principal Accounting Fees and Services	47
PART IV
	Item 15.	Exhibits and Financial Statement Schedules	48
		SIGNATURES	108
		EXHIBIT INDEX	109
		Exhibit 10.12
		Exhibit 10.13
		Exhibit 21.1
		Exhibit 23.1
		Exhibit 31.1
		Exhibit 31.2
		Exhibit 32.1

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Unless the context otherwise indicates or requires, as used in this annual report on Form 10-K, references to “we,” “us,” “our” or the “Company” refer to Verisk Analytics, Inc. and its subsidiaries.

In this annual report on Form 10-K, all dollar amounts are expressed in thousands, unless indicated otherwise.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Verisk Analytics, Inc., or Verisk, has made statements under the captions “Business,” “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and in other sections of this annual report on Form 10-K that are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors discussed under the caption entitled “Risk Factors.” You should specifically consider the numerous risks outlined under “Risk Factors.”

Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. We are under no duty to update any of these forward-looking statements after the date of this annual report on Form 10-K to conform our prior statements to actual results or revised expectations.

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PART I

Item 1. Business

Our Company

Verisk Analytics, Inc. is a leading provider of information about risk to professionals in insurance, healthcare, financial services, government, supply chain, and risk management. Using advanced technologies to collect and analyze billions of records, we draw on industry expertise and unique proprietary data sets to provide predictive analytics and decision-support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, profitability optimization, data management, and many other fields. In the United States and around the world, we help customers protect people, property, and financial assets.

Our customers use our solutions to make better decisions about risk and opportunities with greater efficiency and discipline. We refer to these products and services as "solutions" due to the integration among our services and the flexibility that enables our customers to purchase components or the comprehensive package. These "solutions" take various forms, including data, statistical models or tailored analytics, all designed to allow our clients to make more logical decisions. We believe our solutions for analyzing risk positively impact our customers’ revenues and help them better manage their costs. In 2014, our customers included all of the top 100 Property and Casualty, or P&C, insurance providers in the U.S. for the lines of P&C services we offer, 29 of the top 30 credit card issuers in North America, the United Kingdom and Australia, as well as 9 of the top 10 health plan providers in the U.S. We believe that our commitment to our customers and the embedded nature of our solutions serve to strengthen and extend our relationships.

We help those businesses address what we believe are the four primary decision making processes essential for managing risk as set forth below in the Verisk Risk Analysis Framework:

The Verisk Risk Analysis Framework

These four processes correspond to various functional areas inside our customers’ operations:

• our loss predictions are typically used by P&C insurance and healthcare actuaries, advanced analytics groups and loss control groups to help drive their own assessments of future losses

• our risk selection and pricing solutions are typically used by underwriters as they manage their books of business and by financial institutions as they manage the profitability of their credit and debit card portfolios

• our fraud detection and prevention tools are used by P&C insurance and healthcare underwriters to root out fraud prospectively and by claims departments to speed claims and find fraud retroactively; and

• our tools to quantify loss are primarily used by claims departments, independent adjustors and contractors.

We add value by linking our solutions across these four key processes; for example, we use the same modeling methods to support the pricing of homeowner’s insurance policies and to quantify the actual losses when damage occurs to insured homes.

We offer our solutions and services primarily through annual subscriptions or long-term agreements, which are typically pre-paid and represented approximately 72.3% of our revenues in 2014. For the year ended December 31, 2014, we had revenues of $1,746.7 million and net income of $400.0 million. For the five year period ended December 31, 2014, our revenues and net income grew at a compound annual growth rate, or CAGR, of 15.2% and 13.3%, respectively.

As further described below, results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. As necessary, the amounts have been retroactively adjusted in all periods presented to give recognition to the discontinued operations.

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Our History

We trace our history to 1971, when Insurance Services Office, Inc., or ISO, started operations as a not-for-profit advisory and rating organization providing services for the U.S. P&C insurance industry. ISO was formed as an association of insurance companies to gather statistical data and other information from insurers and report to regulators, as required by law. ISO’s original functions also included developing programs to help insurers define and manage insurance products and providing information to help insurers determine their own independent premium rates. Insurers used and continue to use our offerings primarily in their product development, underwriting and rating functions. Today, those businesses form the core of our Risk Assessment segment.

Over the past decade, we have transformed our business beyond its original functions by deepening and broadening our data assets, developing a set of integrated risk management solutions and services and addressing new markets through our Decision Analytics segment. Our expansion into analytics began when we acquired the American Insurance Services Group, or AISG, and certain operations and assets of the National Insurance Crime Bureau in 1997 and 1998, respectively. Those organizations brought to the company large databases of insurance claims, as well as expertise in detecting and preventing claims fraud. To further expand our Decision Analytics segment, we acquired AIR Worldwide, or AIR, in 2002, the technological leader in catastrophe modeling. In 2004, we entered the healthcare space by acquiring several businesses that now offer web-based analytical and reporting systems for health insurers, provider organizations and self-insured employers. In 2005, we entered the mortgage sector, acquiring the first of several businesses that provided automated fraud detection, compliance and decision support solutions for the U.S. mortgage industry, which we sold in March 2014. In 2006, to bolster our position in the insurance claims field we acquired Xactware, a leading supplier of estimating software for professionals involved in building repair and reconstruction. In 2010, we acquired 3E Company, creating a scale presence in supply chain and environmental health and safety. In 2011 and 2012, we further bolstered our healthcare solutions by acquiring Health Risk Partners, LLC, or HRP, which provides solutions to optimize revenue, improve compliance and improve quality of care for Medicare Advantage health plans and MediConnect Global, Inc. or MediConnect, which provides medical record retrieval, digitization, coding, extraction, and analysis to the healthcare and property casualty industry. Also in 2012, we acquired Argus Information & Advisory Services, LLC, or Argus, to expand our presence in providing information, competitive benchmarking, analytics, and customized services to financial institutions in the payments space globally. In 2014, we acquired Maplecroft.Net Limited, or Maplecroft; as part of our risk management and supply chain solutions business, Maplecroft will continue to deliver thorough analyses of geopolitical, societal, human rights, economic, and environmental risks for many countries in the world.

These acquisitions have added scale, geographic reach, highly skilled workforces, and a wide array of new capabilities to our Decision Analytics segment. They have helped to make us a leading provider of information and decision analytics for customers involved in the business of risk in the U.S. and selectively around the world.

On May 23, 2008, in contemplation of our initial public offering, or IPO, ISO formed Verisk Analytics, Inc., or Verisk, a Delaware corporation, to be the holding company for our business. Verisk was initially formed as a wholly-owned subsidiary of ISO. On October 6, 2009, in connection with our IPO, the Company effected a reorganization whereby ISO became a wholly-owned subsidiary of Verisk. Verisk Class A common stock began trading on the NASDAQ Global Select Market on October 7, 2009 under the symbol “VRSK.”

On March 11, 2014, we sold our mortgage services business, Interthinx, Inc., or Interthinx. From 2009 to 2011, the mortgage services business was in both Risk Assessment segment within the insurance services revenue category and Decision Analytics segment in the financial services revenue category. In 2012, we reclassified the appraisal mortgage tools from Risk Assessment to our Decision Analytics segment in the financial services revenue category. Therefore, in 2012 and 2013, the mortgage services business is within Decision Analytics segment. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. As necessary, the amounts have been retroactively adjusted in all periods presented to give recognition to the discontinued operations.

Our senior management team, which includes our president and chief executive officer, chief financial officer, general counsel, and six senior officers who lead our business and operational units, have been with us for an average of almost 18 years. This team has led our transformation to a successful for-profit entity, focused on growth with our U.S. P&C insurer customers and expansion into a variety of new vertical markets, including healthcare, financial services, and supply chain.

Segments

We organize our business in two segments: Risk Assessment and Decision Analytics. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of this annual report for additional information regarding our segments.

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Risk Assessment Segment

Our Risk Assessment segment serves our P&C insurance customers and focuses on the first two decision making processes in our Risk Analysis Framework: prediction of loss and selection and pricing of risk. Within this segment, we also provide solutions to help our insurance customers comply with their reporting requirements in each U.S. state in which they operate. Our customers include most of the P&C insurance providers in the U.S.

Industry-Standard Insurance Programs

We are the recognized leader in the U.S. for industry-standard insurance programs that help P&C insurers define coverages and issue policies. Our policy language, prospective loss cost information and policy writing rules can serve as integrated turnkey insurance programs for our customers. Insurance companies need to ensure that their policy language, rules, and rates comply with all applicable legal and regulatory requirements. Insurers must also make sure their policies remain competitive by promptly changing coverages in response to changes in statutes or case law. To meet their needs, we process and interface with state regulators in all 50 states plus the District of Columbia, Guam, Puerto Rico and the Virgin Islands approximately 3,000 regulatory filings each year ensuring smooth implementation of our rules and forms. When insurers choose to develop their own alternative programs, our industry-standard insurance programs also help regulators make sure that such insurers’ policies meet basic coverage requirements.

Standardized coverage language, which has been tested in litigation and tailored to reflect judicial interpretation, helps to ensure consistent treatment of claimants. As a result, our industry-standard language also simplifies claim settlements and can reduce the occurrence of costly litigation, because our language causes the meaning of coverage terminology to become established and known. Our policy language includes standard coverage language, endorsements and policy writing support language that assist our customers in understanding the risks they assume and the coverages they are offering. With these policy programs, insurers also benefit from economies of scale. We have over 120 specialized lawyers and insurance experts reviewing changes in each state’s insurance rules and regulations, including on average over 11,000 legislative bills, 1,400 regulatory actions and 2,000 court cases per year, to make any required changes to our policy language and rating information.

To cover the wide variety of risks in the marketplace, we offer a broad range of policy programs. For example, in the homeowner’s line of insurance, we maintain policy language and rules for 6 basic coverages, 248 national endorsements, and 593 state-specific endorsements. Overall, we provide policy language, prospective loss costs, policy writing rules, and a variety of other solutions for 26 lines of insurance.

The P&C insurance industry is heavily regulated in the U.S. P&C insurers are required to collect statistical data about their premiums and losses and to report that data to regulators in every state in which they operate. Our statistical agent services have enabled P&C insurers to meet these regulatory requirements for over 40 years. We aggregate the data and, as a licensed or appointed “statistical agent” in all 50 states, Puerto Rico, and the District of Columbia, we report these statistics to insurance regulators. We are able to capture significant economies of scale given the level of penetration of this service within the U.S. P&C insurance industry.

To provide our customers and the regulators the information they require, we maintain one of the largest private databases in the world. Over the past four decades, we have developed core expertise in acquiring, processing, managing, and operating large and comprehensive databases that are the foundation of our Risk Assessment segment. We use our proprietary technology to assemble, organize and update vast amounts of detailed information submitted by our customers. We supplement this data with publicly available information.

Each year, P&C insurers send us approximately 3.0 billion detailed individual records of insurance transactions, such as insurance premiums collected or losses incurred. We maintain a database of over 17.9 billion statistical records, including approximately 7.1 billion commercial lines records and approximately 10.8 billion personal lines records. We collect unit-transaction detail of each premium and loss record, which enhances the validity, reliability and accuracy of our data sets and our actuarial analyses. Our proprietary quality process includes over 2,500 separate checks to ensure that data meet our high standards of quality.

We provide actuarial services to help our customers analyze and price their risks. Using our large database of premium and loss data, our actuaries are able to perform sophisticated analyses using our predictive models and analytic methods to help our P&C insurance customers with pricing, loss reserving, and marketing. We distribute a number of actuarial solutions and offer flexible services to meet our customers’ needs. In addition, our actuarial consultants provide customized services for our clients that include assisting them with the development of independent insurance programs, analysis of their own underwriting experience, development of classification systems and rating plans, and a wide variety of other business decisions. We also supply information to a wide variety of customers in other markets including reinsurance and government agencies.

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We project future losses and loss expenses utilizing a broad set of data. These projections tend to be more reliable than if our customers used solely their own data. We make a number of actuarial adjustments before the data is used to estimate future costs. Our customers can use our estimates of future costs in making independent decisions about the prices charged for their policies. For most P&C insurers, in most lines of business, we believe our estimates of future costs are an essential input to rating decisions. Our actuarial products and services are also used to create the analytics underlying our industry-standard insurance programs described above.

Property-Specific Rating and Underwriting Information

We gather information on individual properties and communities so that insurers can use our information to evaluate and price personal and commercial property insurance, as well as commercial liability insurance. Our property-specific rating and underwriting information allow our customers to understand, quantify, underwrite, mitigate, and avoid potential loss for commercial properties. Our database contains loss costs and other vital information on more than 3.5 million commercial buildings in the United States and also holds information on more than 6.2 million individual businesses occupying those buildings. We have a staff of more than 600 field representatives strategically located around the United States who observe and report on conditions at commercial and residential properties, evaluate community fire-protection capabilities and assess the effectiveness of municipal building-code enforcement. Each year, our field staff visits over 325,000 commercial properties to collect information on new buildings and verify building attributes.

We also provide proprietary analytic measures of the ability of individual communities to mitigate losses from important perils. Nearly every property insurer in the U.S. uses our evaluations of community firefighting capabilities to help determine premiums for fire insurance throughout the country. We provide field-verified and validated data on the fire protection services for more than 47,000 fire response jurisdictions. We also offer services to evaluate the effectiveness of community enforcement of building codes and the efforts of communities to mitigate damage from flooding. Further, we provide information on the insurance rating territories, premium taxes, crime risk, and hazards of windstorm, earthquake, wildfire, and other perils. To supplement our data on specific commercial properties and individual communities, we have assembled, from a variety of internal and third-party sources, information on hazards related to geographic locations representing every postal address in the U.S. Insurers use this information not only for policy quoting but also for analyzing risk concentration in geographical areas. We also make our data and analytics available to commercial real estate lenders to allow them to better understand risks associated with people they lend against.

Decision Analytics Segment

In the Decision Analytics segment, we support all four phases of our Risk Analysis Framework. We develop predictive models to forecast scenarios and produce both standard and customized analytics that help our customers better predict loss, select and price risk, detect fraud before and after a loss event, and quantify losses. The businesses are categorized by the primary end market for their services.

As we develop our models to quantify loss and detect fraud, we improve our ability to predict the loss and prevent the fraud from happening. We believe this provides us with a significant competitive advantage over firms that do not offer solutions which operate both before and after loss events.

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Insurance

We are a leading provider of fraud-detection tools for the P&C insurance industry. Our fraud solutions improve our customers’ profitability by both predicting the likelihood that fraud is occurring and detecting suspicious activity after it has occurred. When a claim is submitted, our system searches our database and returns information about other claims filed by the same individuals or businesses (either as claimants or insurers) which helps our customers determine if fraud has occurred. The system searches for matches in identifying information fields, such as name, address, Social Security number, vehicle identification number, driver’s license number, tax identification number, or other parties to the loss. Our system also includes advanced name and address searching to perform intelligent searches and improve the overall quality of the matches. Information from match reports speeds payment of meritorious claims while providing a defense against fraud and can lead to denial of a claim, negotiation of a reduced award or further investigation by the insurer or law enforcement.

We have a comprehensive system used by claims adjusters and investigations professionals to process claims and fight fraud. Claims databases are one of the key tools in the fight against insurance fraud. The benefits of a single all-claims database include improved efficiency in reporting data and searching for information, enhanced capabilities for detecting suspicious claims and superior information for investigating fraudulent claims, suspicious individuals and possible fraud rings. Our database contains information on approximately 994 million claims and is the world’s largest database of P&C claims information used for claims and investigations. Insurers and other participants submit new claims, more than 199,000 a day on average, across all categories of the U.S. P&C insurance industry.

We also provide an expert scoring system that helps distinguish between suspicious and meritorious claims; and products that use link-analysis technology to help visualize and fight insurance fraud.

We pioneered the field of probabilistic catastrophe modeling used by insurers, reinsurers and financial institutions to manage their catastrophe risk. Our models of global natural hazards, which form the basis of our solutions, enable companies to identify, quantify and plan for the financial consequences of catastrophic events. We have developed models, covering natural hazards, including hurricanes, earthquakes, winter storms, tornadoes, hailstorms, and flood, for potential loss events in more than 90 countries. We have also developed and introduced a probabilistic terrorism model capable of quantifying the risk in the U.S. from this emerging threat, which supports pricing and underwriting decisions down to the level of an individual policy.

We also provide data, analytic and networking products for professionals involved in estimating all phases of building repair and reconstruction. We provide solutions for every phase of a building’s life, including:

• quantifying the ultimate cost of repair or reconstruction of damaged or destroyed buildings;

• aiding in the settlement of insurance claims; and

• tracking the process of repair or reconstruction and facilitating communication among insurers, adjusters, contractors and policyholders.

To help our customers estimate repair costs, we provide a solution that assists contractors and insurance adjusters to estimate repairs using a patented plan-sketching program. The program allows our customers to sketch floor plans, roof plans and wall-framing plans and automatically calculates material and labor quantities for the construction of walls, floors, footings and roofs.

We also offer our customers access to wholesale and retail price lists, which include structural repair and restoration pricing for 467 separate economic areas in North America. We revise this information monthly and, in the aftermath of a major disaster, we can update the price lists as often as weekly to reflect rapid price changes. Our structural repair and cleaning database contains more than 21,000 unit-cost line items. For each line item such as smoke cleaning, water extraction and hazardous cleanup, we report time and material pricing, including labor, labor productivity rates (for new construction and restoration), labor burden and overhead, material costs, and equipment costs. We improve our reported pricing data by several methods including direct market surveys and an analysis of the actual claims experience of our customers. We estimate that about 84% of insurance repair contractors and service providers in the U.S. and Canada with computerized estimating systems use our building and repair pricing data. Utilization of such a large percentage of the industry’s claims leads to accurate reporting of pricing information, which we believe is unmatched in the industry.

Our estimates allow our customers to set loss reserves, deploy field adjusters and verify internal company estimates. Our estimates also keep insurers, their customers, regulators, and other interested parties informed about the total costs of disasters. We also provide our customers access to daily reports on severe weather and catastrophes and we maintain a database of information on catastrophe losses in the U.S. since 1950.

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Financial Services

We focus on providing competitive benchmarking, scoring solutions, analytics, and customized services to financial services institutions in North and South America and Europe. We maintain the most comprehensive de-personalized direct observation consortia data sets for the payments industry. We leverage this consortia data and provide proprietary solutions and information that enable clients to achieve higher profitability and growth through enhanced marketing and risk management decisions. We have deployed unique technology to manage vast data sets efficiently and manage vast amount of payments data. We offer services and a suite of solutions to a client base that includes credit and debit card issuers, retail banks and other consumer financial services providers, payment processors, insurance companies, and other industry stakeholders.

Our professionals have substantial industry knowledge in providing solutions to the financial services sector. We are known for our unique ability to blend the highly technical, data-centered aspects of our projects with expert communication and business knowledge. Our solutions enhance our clients’ ability to manage their businesses profitably and position them better to handle present day challenges (competitive, regulatory, and economic). Specifically, we use comprehensive transaction, risk, behavioral, and bureau-sourced account data to assist clients in making better business decisions through analysis and analytical solutions. We maintain a comprehensive and granular direct observation database for credit card, debit card, and deposit transactions in the industry.

Healthcare

We offer payment accuracy solutions that help healthcare claims payors detect fraud, abuse and overpayment. Our approach combines computer-based modeling and profiling of claims with analysis performed by clinical experts. We run our customers’ claims through our proprietary analytic system to identify potential fraud, abuse and overpayment, and then a registered nurse, physician or other clinical specialist skilled in coding and reimbursement decisions reviews all suspect claims and billing patterns. This combination of system and human review is unique in the industry and we believe offers improved accuracy for paying claims. We analyze the patterns of claims produced by individual physicians, physicians’ practices, hospitals, dentists, and pharmacies to locate sources of fraud. After a suspicious source of claims is identified, our real-time analytic solutions investigate each claim individually for particular violations, including upcoding, multiple billings, services claimed but not rendered, and billing by unlicensed providers. By finding the individual claims with the most cost-recovery potential and also minimizing the number of false-positive indications of fraud, we enable the special investigation units of healthcare payors to efficiently control their claims costs while maintaining high levels of customer service to their insureds. We also offer web-based reporting tools that let payors take definitive action to prevent overpayments or payment of fraudulent claims. The tools provide the documentation that helps to identify, investigate and prevent abusive and fraudulent activity by providers.

We provide enterprise analytics and reporting systems to health insurers, provider organizations and self-insured employers. Those organizations use our healthcare business intelligence solutions to review their data, including information on claims, membership, providers and utilization, and provide cost trends, forecasts and actuarial, financial and utilization analyses. For example, our solutions allow our customers to predict medical costs and improve the financing and organization of health services. Our predictive models help our customers identify high-cost cases for care-and disease-management intervention, compare providers adjusting for differences in health, predict resource use for individuals and populations, establish health-based and performance-based payments, negotiate payments and incentives, negotiate premium rates, and measure return on investment. We also provide our customers healthcare services using complex clinical analyses to uncover reasons behind cost and utilization increases. Physicians and hospitals are adopting and acquiring new technologies, drugs and devices more rapidly than ever before. We provide financial and actuarial analyses, clinical, technical and implementation services and training services to help our customers manage costs and risks to their practices.

We are a provider of solutions for revenue & quality intelligence and compliance for certain aspects of the healthcare industry. We have systems, including our revenue integrity business, which analyze Medicare data for compliance with CMS (Centers for Medicare & Medicaid Services) guidelines, assist payers in payment integrity, data collection, and encounter data submission. By using our ReconEdge™, a web-based risk adjustment reconciliation system, healthcare payers can assess their organizations’ opportunities and compliance in payments. In addition, we offer proprietary systems and services that facilitate the aggregation, retrieval, coding, and analysis of medical records. We have a repository of medical records that are digitized, indexed, and securely hosted online. We use custom-built, proprietary technology to deliver medical records from facilities and provider locations. Our clients can access the clinical data through a cloud-based workflow management system. We are also a provider of HEDIS^® (Healthcare Effectiveness Data and Information Set) software solutions. Our solution suite allows managed care organizations to calculate and submit HEDIS results to NCQA (National Committee for Quality Assurance), improve quality in covered populations, and reduce administrative overhead associated with quality reporting.

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Specialized Markets

We help businesses and governments better anticipate and manage climate-and weather-related risks. We prepare certain agencies and companies to anticipate, manage, react to and profit from weather and climate-related risk. We serve our clients by providing state-of-the-art research, development and analysis delivered in reports, databases and software solutions. We are dedicated to the advancement of scientific understanding of the atmospheric, climate and weather, ocean, and planetary sciences. Through research conducted by our in-house scientific staff, and often in collaboration with world-renowned scientists at academic and other research institutions, we have developed analytical tools to help measure and observe the properties of the environment and to translate these measurements into useful information to take action. In 2013, we formed the Verisk Climate division in response to customers' needs for new solutions to manage enterprise climate and environmental risks.

We also offer a comprehensive suite of data and information services that enables improved compliance with global Environmental Health & Safety, or EH&S requirements related to the safe manufacturing, distribution, transportation, usage and disposal of chemicals and products. From the supply chain or solutions lifecycle, we deliver a program specific to the EH&S compliance information and management needs of our customers. We have a full solutions lifecycle and cross-supply chain approach that provide a single, integrated solution for managing EH&S capabilities, resulting in reduced cost, risk and liability while improving process.

Our Growth Strategy

Over the past five years, we have grown our revenues at a CAGR of 15.2% through the successful execution of our business plan. These results reflect strong organic revenue growth, new product development and acquisitions. We have made, and continue to make, investments in people, data sets, analytic solutions, technology, and complementary businesses. The key components of our strategy include:

Increase Solution Penetration with Customers.    We expect to expand the application of our solutions in insurance customers’ internal risk and underwriting processes. Building on our deep knowledge of, and embedded position in, the insurance industry, we expect to sell more solutions to existing customers tailored to individual insurance segments. By increasing the breadth and relevance of our offerings, we believe we can strengthen our relationships with customers and increase our value to their decision making in critical ways. We also have opportunities to expand solution penetration in our health and financial services customers.

Develop New, Proprietary Data Sets and Predictive Analytics.    We work with our customers to understand their evolving needs. We plan to create new solutions by enriching our mix of proprietary data sets, analytic solutions and effective decision support across the markets we serve. We constantly seek to add new data sets that can further leverage our analytic methods, technology platforms and intellectual capital.

Leverage Our Intellectual Capital to Expand into Adjacent Markets and New Customer Sectors.    Our organization is built on over four decades of intellectual property in risk management. We believe we can continue to profitably expand the use of our intellectual capital and apply our analytic methods in new markets, where significant opportunities for long-term growth exist. We also continue to pursue growth through targeted international expansion. We have already demonstrated the effectiveness of this strategy with our expansion into healthcare and non-insurance financial services.

Pursue Strategic Acquisitions that Complement Our Leadership Positions.    We will continue to expand our data and analytics capabilities across industries. While we expect this will occur primarily through organic growth, we have and will continue to acquire assets and businesses that strengthen our value proposition to customers. We have developed an internal capability to source, evaluate and integrate acquisitions that have created value for shareholders.

Our Customers

Risk Assessment Customers

The customers in our Risk Assessment segment for the lines of P&C services we offer include the top 100 P&C insurance providers in the United States, as well as insurers in international markets. Our statistical agent services are used by a substantial majority of P&C insurance providers in the U.S. to report to regulators. Our actuarial services and industry-standard insurance programs are used by the majority of insurers and reinsurers in the U.S. In addition, certain agencies of the federal government, as well as county and state governmental agencies and organizations, use our solutions to help satisfy government needs for risk assessment and emergency response information.

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Decision Analytics Customers

In the Decision Analytics segment, we provide our P&C insurance solutions to the majority of the P&C insurers in the U.S. Specifically, our claims database serves thousands of customers, representing over 90% of the P&C insurance industry by premium volume, 27 state workers’ compensation insurance funds, 578 self-insurers, 417 third-party administrators, several state fraud bureaus, and many law-enforcement agencies involved in investigation and prosecution of insurance fraud. We estimate that about 84% of insurance repair contractors and service providers in the U.S. and Canada with computerized estimating systems use our building and repair pricing data. In the U.S. healthcare industry, our customers include 9 of the top 10 health plan providers. Our customers included 29 of the top 30 credit card issuers in North America, the United Kingdom and Australia.

Our Competitors

We believe no single competitor currently offers the same scope of services and market coverage we provide. The breadth of markets we serve exposes us to a broad range of competitors as described below. Businesses that we acquire may introduce us to additional competitors.

Risk Assessment Competitors

Our Risk Assessment segment operates primarily in the U.S. P&C insurance industry, where we enjoy a leading market presence. We have a number of competitors in specific lines or services.

We encounter competition from a number of sources, including insurers who develop internal technology and actuarial methods for proprietary insurance programs. Competitors also include other statistical agents, including the National Independent Statistical Service, the Independent Statistical Service and other advisory organizations, providing underwriting rules, prospective loss costs and coverage language such as the American Association of Insurance Services and Mutual Services Organization, although we believe none of our competitors has the breadth or depth of data we have.

Competitors for our property-specific rating and underwriting information are primarily limited to a number of regional providers of commercial property inspections and surveys, including Overland Solutions, Inc. and Regional Reporting, Inc. We also compete with a variety of organizations that offer consulting services, primarily specialty technology and consulting firms. In addition, a customer may use its own internal resources rather than engage an outside firm for these services. Our competitors also include information technology product and services vendors, management and strategy consulting firms including Deloitte Consulting LLP, and smaller specialized information technology firms and analytical services firms including Pinnacle Consulting and EMB, a unit of Towers Watson.

Decision Analytics Competitors

In the P&C insurance claims market and catastrophe modeling market, certain products are offered by a number of companies, including Risk Management Solutions (catastrophe modeling) and CoreLogic/MSB (property replacement value ), LexisNexis Risk Solutions (loss histories and motor vehicle records for personal lines underwriting), Solera (personal automobile underwriting) and Simbility. We believe that our P&C insurance industry expertise, combined with our ability to offer multiple applications, services and integrated solutions to individual customers, enhances our competitiveness against these competitors with more limited offerings. In the healthcare market, certain products are offered by a number of companies, including ViPS, Inc., OptumInsight, McKesson, Truven Health Analytics, Inovalon, and iHealth (healthcare predictive modeling and business intelligence). Competitive factors include application features and functions, ease of delivery and integration, ability of the provider to maintain, enhance and support the applications or services and price.

Development of New Solutions

We take a market-focused team approach to developing our solutions. Our operating units are responsible for developing, reviewing and enhancing our various products and services. Our data management and production team designs and manages our processes and systems for market data procurement, proprietary data production and quality control. Our Joint Development Environment, or JDE, and Enterprise Data Management, or EDM, teams support our efforts to create new information and products from available data and explores new methods of collecting data. EDM is focused on understanding and documenting business-unit and corporate data assets and data issues; sharing and combining data assets across the enterprise; creating an enterprise data strategy; facilitating research and product development; and promoting cross-enterprise communication. Our Verisk Innovative Analytics, or VIA, team is a corporate center of excellence for analytical methods in applying modeling techniques to predict risk outcomes.

Our software development teams build the technology used in many of our solutions. As part of our product-development process, we continually solicit feedback from our customers on the value of our products and services and the market’s needs. We

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have established an extensive system of customer advisory panels, which meet regularly throughout the year to help us respond effectively to the needs of our markets. In addition, we use frequent sales calls, executive visits, user group meetings, and other industry forums to gather information to match the needs of the market with our product development efforts. We also use a variety of market research techniques to enhance our understanding of our clients and the markets in which they operate.

We also add to our offerings through an active acquisition program. Since 2010, we have acquired twelve businesses, which have allowed us to enter new markets, offer new solutions and enhance the value of existing services with additional proprietary sources of data.

When we find it advantageous, we augment our proprietary data sources and systems by forming alliances with other leading information providers and technology companies and integrating their product offerings into our offerings. This approach gives our customers the opportunity to obtain the information they need from a single source and more easily integrate the information into their workflows.

Sales, Marketing and Customer Support

We sell our products and services primarily through direct interaction with our clients. We employ a three-tier sales structure that includes salespeople, product specialists and sales support. As of December 31, 2014, we had a sales force of 268 people. Within the company, several areas have sales teams that specialize in specific products and services. These specialized sales teams sell specific, highly technical product sets to targeted markets in coordination with account management.

To provide account management to our largest customers, we segment the insurance carrier market into three groups. Tier One or “National” Accounts constitutes our largest customers, Tier Two or “Strategic” Accounts represents both larger carrier groups and middle-market carriers. Tier Three are the small insurance companies that may represent one line of business and/or be one-state or regional writers. A Sales Generalist is assigned to every insurer account and is responsible for our overall relationship with these insurance companies. Our senior executives are also involved with the senior management of our customers.

Sales people participate in both customer-service and sales activities. They provide direct support, interacting frequently with assigned customers to assure a positive experience using our services. Salespeople primarily seek out new sales opportunities and work with the various sales teams to coordinate sales activity and provide the best solutions for our customers. We believe our salespeople’s product knowledge and local presence differentiates us from our competition. Product specialists are subject-matter experts and work with salespeople on specific opportunities for their assigned products. Both salespeople and product specialists have responsibility for identifying new sales opportunities. A team approach and a common customer relationship management system allow for effective coordination between the two groups.

Sources of our Data

The data we use to perform our analytics and power our solutions are sourced through seven different kinds of data arrangements. First, we gather data from our customers within agreements that also permit our customers to use the solutions created upon their data. These agreements remain in effect unless the data contributor chooses to opt out and represent our primary method of data gathering. It is very rare that contributors elect not to continue providing us data. Second, we have agreements with data contributors in which we specify the particular uses of their data and provide to the data contributors their required levels of privacy, protection of data and where necessary de-identification of data. These agreements represent no cost to us and generally feature a specified period of time for the data contributions and require renewal. Third, we “mine” data found inside the transactions supported by our solutions; as an example, we utilize the claims settlement data generated inside our repair cost estimating solution to improve the cost factors used in our models. Again, these arrangements represent no cost to us and we obtain the consent of our customers to make use of their data in this way. Fourth, we source data generally at no cost from public sources including federal, state and local governments. Fifth, we gather data about the physical characteristics of commercial properties through the direct observation of our field staff that also perform property surveys at the request of, and facilitated by, property insurers. Sixth, we purchase data from data aggregators under contracts that reflect prevailing market pricing for the data elements purchased, including county tax assessor records, descriptions of hazards such as flood plains and professional licenses. Lastly, we retrieve medical records from facilities and provider locations at prevailing market prices under agreements between our insurer customers and their provider networks. In all our modes of data collection, we are the owners of whatever derivative solutions we create using the data. Our costs for data received from our customers were 1.2% and 1.3% of revenues for the years ended December 31, 2014 and 2013, respectively.

Information Technology

Technology

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Our information technology systems are fundamental to our success. They are used for the storage, processing, access and delivery of the data which forms the foundation of our business and the development and delivery of our solutions provided to our clients. Much of the technology we use and provide to our customers is developed, maintained and supported by approximately 1,258 employees. We generally own or have secured ongoing rights to use for the purposes of our business all the customer-facing applications which are material to our operations. We support and implement a mix of technologies, focused on implementing the most efficient technology for any given business requirement or task.

Data Centers

We have two primary data centers in Jersey City, New Jersey and Orem, Utah creating redundancy and back-up capabilities. In addition, we have data centers dedicated to certain business units, located in other states.

Disaster Recovery

We are committed to a framework for business continuity management and carry out annual reviews of the state of preparedness of each business unit. All of our critical databases, systems and contracted client services are also regularly recovered. We also have documented disaster recovery plans in place for each of our major data centers and each of our solutions. Our primary data center recovery site is in New York State, approximately 50 miles northwest of Jersey City, New Jersey.

Security

We have adopted a wide range of measures to ensure the security of our IT infrastructure and data. Security measures generally cover the following key areas: physical security; logical security of the perimeter; network security such as firewalls; logical access to the operating systems; deployment of virus detection software; and appropriate policies and procedures relating to removable media such as laptops. All laptops are encrypted and media leaving our premises that is sent to a third-party storage facility is also encrypted. This commitment has led us to achieve certification from CyberTrust (an industry leader in information security certification) since 2002.

Intellectual Property

We own a significant number of intellectual property rights, including copyrights, trademarks, trade secrets and patents. Specifically, our policy language, insurance manuals, software and databases are protected by both registered and common law copyrights, and the licensing of those materials to our customers for their use represents a large portion of our revenue. We also own in excess of 500 trademarks in the U.S. and foreign countries, including the names of our products and services and our logos and tag lines, many of which are registered. We believe many of our trademarks, trade names, service marks and logos to be of material importance to our business as they assist our customers in identifying our products and services and the quality that stands behind them. We consider our intellectual property to be proprietary, and we rely on a combination of statutory (e.g., copyright, trademark, trade secret and patent) and contractual safeguards in a comprehensive intellectual property enforcement program to protect them wherever they are used.

We also own several software method and processing patents and have several pending patent applications in the U.S. that complement our products. The patents and patent applications include claims which pertain to technology, including a patent for our Claims Outcome Advisor software, and for our Xactware Sketch product. We believe the protection of our proprietary technology is important to our success and we will continue to seek to protect those intellectual property assets for which we have expended substantial research and development capital and which are material to our business.

In order to maintain control of our intellectual property, we enter into license agreements with our customers, granting each customer a license to use our products and services, including our software and databases. This helps to maintain the integrity of our proprietary intellectual property and to protect the embedded information and technology contained in our solutions. As a general practice, employees, contractors and other parties with access to our proprietary information sign agreements that prohibit the unauthorized use or disclosure of our proprietary rights, information and technology.

Employees

As of December 31, 2014, we employed 6,170 full-time and 380 part-time employees. None of our employees are represented by unions. We consider our relationship with our employees to be good and have not experienced interruptions of operations due to labor disagreements.

Our employees include over 185 actuarial professionals, including 42 Fellows and 30 Associates of the Casualty Actuarial Society, as well as 160 Chartered Property Casualty Underwriters, 18 Certified and 22 Associate Insurance Data Managers, and 611 professionals with advanced degrees, including PhDs in mathematics and statistical modeling who review both the data and the models.

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Regulation

Because our business involves the distribution of certain personal, public and non-public data to businesses and governmental entities that make eligibility, service and marketing decisions based on such data, certain of our solutions and services are subject to regulation under federal, state and local laws in the United States and, to a lesser extent, foreign countries. Examples of such regulation include the Fair Credit Reporting Act, which regulates the use of consumer credit report information; the Gramm-Leach-Bliley Act, which regulates the use of non-public personal financial information held by financial institutions and applies indirectly to companies that provide services to financial institutions; the Health Insurance Portability and Accountability Act, which restricts the public disclosure of patient information and applies indirectly to companies that provide services to healthcare businesses; the Drivers Privacy Protection Act, which prohibits the public disclosure, use or resale by any state’s department of motor vehicles of personal information about an individual that was obtained by the department in connection with a motor vehicle record, except for a “permissible purpose”, and various other federal, state and local laws and regulations.

These laws generally restrict the use and disclosure of personal information and provide consumers certain rights to know the manner in which their personal information is being used, to challenge the accuracy of such information and/or to prevent the use and disclosure of such information. In certain instances, these laws also impose requirements for safeguarding personal information through the issuance of data security standards or guidelines. Certain state laws impose similar privacy obligations, as well as obligations to provide notification of security breaches in certain circumstances.

We are also licensed as a rating, rate service, advisory or statistical organization under state insurance codes in all fifty states, Puerto Rico, Guam, the Virgin Islands and the District of Columbia. As such an advisory organization, we provide statistical, actuarial, policy language development and related products and services to property/casualty insurers, including advisory prospective loss costs, other prospective cost information, manual rules and policy language. We also serve as an officially designated statistical agent of state insurance regulators to collect policy-writing and loss statistics of individual insurers and compile that information into reports used by the regulators.

Many of our products, services and operations as well as insurer use of our services are subject to state rather than federal regulation by virtue of the McCarran-Ferguson Act. As a result, many of our operations and products are subject to review and/or approval by state regulators. Furthermore, our operations involving licensed advisory organization activities are subject to periodic examinations conducted by state regulators and our operations and products are subject to state antitrust and trade practice statutes within or outside state insurance codes, which are typically enforced by state attorneys general and/or insurance regulators.

Available Information

We maintain an Investor Relations website on the Internet at investor.verisk.com. We make available free of charge, on or through this website, our annual, quarterly, and current reports and any amendments to those reports as soon as reasonably practicable following the time they are electronically filed with or furnished to the SEC. To access these, click on the “Financial Information” — “SEC" link found on our Investor Relations homepage. Verisk trades on the NASDAQ Global Select Market under the ticker symbol “VRSK.” Our stock was first publicly traded on October 7, 2009.

The public may read and copy any materials filed by Verisk with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Room 1580, Washington, DC 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC maintains an Internet site that contains reports, proxy and information statements and other information regarding issuers that file electronically with the SEC at www.sec.gov. 

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Item 1A. Risk Factors

You should carefully consider the following risks and all of the other information set forth in this annual report on Form 10-K before deciding to invest in any of our securities. If any of the following risks actually occurs, our business, financial condition or results of operations would likely suffer. In such case, the trading price of our securities including our Class A common stock could decline due to any of these risks, and you may lose all or part of your investment.

We could lose our access to data from external sources which could prevent us from providing our solutions.

We depend upon data from external sources, including data received from customers and various government and public record services, for information used in our databases. In general, we do not own the information in these databases, and the participating organizations could discontinue contributing information to the databases. Our data sources could withdraw or increase the price for their data for a variety of reasons, and we could also become subject to legislative, judicial, or contractual restrictions on the use of such data, in particular if such data is not collected by the third parties in a way which allows us to legally use and/or process the data. In addition, some of our customers are significant stockholders of our company. Specifically, a portion of Class A common stock is owned by insurers who are also our customers. If our customers’ percentage of ownership of our common stock decreases in the future, there can be no assurance that our customers will continue to provide data to the same extent or on the same terms. If a substantial number of data sources, or certain key sources, were to withdraw or be unable to provide their data, or if we were to lose access to data due to government regulation or if the collection of data became uneconomical, our ability to provide solutions to our customers could be impacted, which could materially adversely affect our business, reputation, financial condition, operating results and cash flows.

Agreements with our data suppliers are short-term agreements. Some suppliers are also competitors, which may make us vulnerable to unpredictable price increases and may cause some suppliers not to renew certain agreements. Our competitors could also enter into exclusive contracts with our data sources. If our competitors enter into such exclusive contracts, we may be precluded from receiving certain data from these suppliers or restricted in our use of such data, which would give our competitors an advantage. Such a termination or exclusive contracts could have a material adverse effect on our business, financial position, and operating results if we were unable to arrange for substitute sources.

We derive a substantial portion of our revenues from U.S. P&C primary insurers. If there is a downturn in the U.S. insurance industry or that industry does not continue to accept our solutions, our revenues will decline.

Revenues derived from solutions we provide to U.S. P&C primary insurers account for a substantial portion of our total revenues. During the year ended December 31, 2014, approximately 49.1% of our revenue was derived from solutions provided to U.S. P&C primary insurers. Also, invoices for certain of our solutions are linked in part to premiums in the U.S. P&C insurance market, which may rise or fall in any given year due to loss experience and capital capacity and other factors in the insurance industry beyond our control. In addition, our revenues will decline if the insurance industry does not continue to accept our solutions.

Factors that might affect the acceptance of these solutions by P&C primary insurers include the following:

• changes in the business analytics industry;

• changes in technology;

• our inability to obtain or use state fee schedule or claims data in our insurance solutions;

• saturation of market demand;

• loss of key customers;

• industry consolidation; and

• failure to execute our customer-focused selling approach.

A downturn in the insurance industry, pricing pressure or lower acceptance of our solutions by the insurance industry could result in a decline in revenues from that industry and have a material adverse effect on our financial condition, results of operations and cash flows.

Acquisitions could result in operating difficulties, dilution and other harmful consequences, and we may not be successful in achieving growth through acquisitions.

Our long-term business strategy includes growth through acquisitions. Future acquisitions may not be completed on acceptable terms and acquired assets, data or businesses may not be successfully integrated into our operations, and we may ultimately divest unsuccessful acquirees. Any acquisitions or investments will be accompanied by the risks commonly encountered in acquisitions of businesses. Such risks include, among other things:

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• failing to implement or remediate controls, procedures and policies appropriate for a larger public company at acquired companies that prior to the acquisition lacked such controls, procedures and policies;

• paying more than fair market value for an acquired company or assets;

• failing to integrate the operations and personnel of the acquired businesses in an efficient, timely manner;

• assuming potential liabilities of an acquired company;

• managing the potential disruption to our ongoing business;

• distracting management focus from our core businesses;

• failing to retain management at acquired company;

• difficulty in acquiring suitable businesses, including challenges in predicting the value an acquisition will ultimately contribute to our business;

• possibility of overpaying for acquisitions, particularly those with significant intangible assets that derive value using novel tools and/or are involved in niche markets;

• impairing relationships with employees, customers, and strategic partners;

• incurring expenses associated with the amortization of intangible assets particularly for intellectual property and other intangible assets;

• incurring expenses associated with an impairment of all or a portion of goodwill and other intangible assets due to changes in market conditions, weak economies in certain competitive markets, or the failure of certain acquisitions to realize expected benefits; and

• diluting the share value and voting power of existing stockholders.

The anticipated benefits of many of our acquisitions may not materialize. Future acquisitions or dispositions could result in the incurrence of debt, contingent liabilities or amortization expenses, or write-offs of goodwill and other intangible assets, any of which could harm our financial condition.

We typically fund our acquisitions through our debt facilities. Although we have capacity under committed facilities, those may not be sufficient. Therefore, future acquisitions may require us to obtain additional financing through debt or equity, which may not be available on favorable terms or at all and would result in dilution.

In addition, to the extent we cannot identify or consummate, on terms acceptable to us, acquisitions that are complementary or otherwise attractive to our business, we may experience difficulty in achieving future growth.

There may be consolidation in our end customer market, which would reduce the use of our services.

Mergers or consolidations among our customers could reduce the number of our customers and potential customers. This could adversely affect our revenues even if these events do not reduce the aggregate number of customers or the activities of the consolidated entities. If our customers merge with or are acquired by other entities that are not our customers, or that use fewer of our services, they may discontinue or reduce their use of our services. The adverse effects of consolidation will be greater in sectors that we are particularly dependent upon, for example, in the P&C insurance and healthcare services sector. Any of these developments could materially and adversely affect our business, financial condition, operating results and cash flows.

If we are unable to develop successful new solutions or if we experience defects, failures and delays associated with the introduction of new solutions, our business could suffer serious harm.

Our growth and success depends upon our ability to develop and sell new solutions. If we are unable to develop new solutions, or if we are not successful in introducing and/or obtaining regulatory approval or acceptance for new solutions, or products we develop face sufficient pricing pressure to make them unattractive to pursue, we may not be able to grow our business, or growth may occur more slowly than we anticipate. In addition, significant undetected errors or delays in new solutions may affect market acceptance of our solutions and could harm our business, financial condition or results of operations. In the past, we have experienced delays while developing and introducing new solutions, primarily due to difficulties in developing models, acquiring data and adapting to particular operating environments. Errors or defects in our solutions that are significant, or are perceived to be significant, could result in rejection of our solutions, damage to our reputation, loss of revenues, diversion of development resources, an increase in product liability claims, and increases in service and support costs and warranty claims.

We will continue to rely upon proprietary technology rights, and if we are unable to protect them, our business could be harmed.

Our success depends, in part, upon our intellectual property rights. To date, we have relied primarily on a combination of copyright, patent, trade secret, and trademark laws and nondisclosure and other contractual restrictions on copying and

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distribution to protect our proprietary technology. This protection of our proprietary technology is limited, and our proprietary technology could be used by others without our consent. In addition, patents may not be issued with respect to our pending or future patent applications, and our patents may not be upheld as valid or may not prevent the development of competitive products. Business we acquire also often involve intellectual property portfolios, which increase the challenges we face in protecting our strategic advantage. Any disclosure, loss, invalidity of, or failure to protect our intellectual property could negatively impact our competitive position, and ultimately, our business. Our protection of our intellectual property rights in the United States or abroad may not be adequate and others, including our competitors, may use our proprietary technology without our consent. Furthermore, litigation may be necessary to enforce our intellectual property rights, to protect our trade secrets, or to determine the validity and scope of the proprietary rights of others. Such litigation could result in substantial costs and diversion of resources and could harm our business, financial condition, results of operations and cash flows.

We could face claims for intellectual property infringement, which if successful could restrict us from using and providing our technologies and solutions to our customers.

There has been substantial litigation and other proceedings, particularly in the United States, regarding patent and other intellectual property rights in the information technology industry. There is a risk that we are infringing, or may in the future infringe, the intellectual property rights of third parties. We monitor third-party patents and patent applications that may be relevant to our technologies and solutions and we carry out freedom to operate analysis where we deem appropriate. However, such monitoring and analysis has not been, and is unlikely in the future to be, comprehensive, and it may not be possible to detect all potentially relevant patents and patent applications. Since the patent application process can take several years to complete, there may be currently pending applications, unknown to us, that may later result in issued patents that cover our products and technologies. As a result, we may infringe existing and future third-party patents of which we are not aware. As we expand our operations there is a higher risk that such activity could infringe the intellectual property rights of third parties.

Third-party intellectual property infringement claims and any resultant litigation against us or our technology partners or providers, could subject us to liability for damages, restrict us from using and providing our technologies and solutions or operating our business generally, or require changes to be made to our technologies and solutions. Even if we prevail, litigation is time consuming and expensive to defend and would result in the diversion of management’s time and attention.

If a successful claim of infringement is brought against us and we fail to develop non-infringing technologies and solutions or to obtain licenses on a timely and cost effective basis, this could materially and adversely affect our business, reputation, financial condition, operating results and cash flows.

Regulatory developments could negatively impact our business.

Because personal, public and non-public information is stored in some of our databases, we are vulnerable to government regulation and adverse publicity concerning the use of our data. We provide many types of data and services that already are subject to regulation under the Fair Credit Reporting Act, Gramm-Leach-Bliley Act, Driver’s Privacy Protection Act, Health Insurance Portability and Accountability Act, the European Union’s Data Protection Directive, the Dodd Frank Wall Street Reform and Consumer Protection Act and to a lesser extent, various other federal, state, and local laws and regulations. These laws and regulations are designed to protect the privacy of the public and to prevent the misuse of personal information in the marketplace. However, many consumer advocates, privacy advocates, and government regulators believe that the existing laws and regulations do not adequately protect privacy. They have become increasingly concerned with the use of personal information, particularly social security numbers, department of motor vehicle data and dates of birth. As a result, they are lobbying for further restrictions on the dissemination or commercial use of personal information to the public and private sectors. Similar initiatives are under way in other countries in which we do business or from which we source data. The following legal and regulatory developments also could have a material adverse effect on our business, financial position, results of operations or cash flows:

• amendment, enactment, or interpretation of laws and regulations which restrict the access and use of personal information and reduce the supply of data available to customers;

• changes in cultural and consumer attitudes to favor further restrictions on information collection and sharing, which may lead to regulations that prevent full utilization of our solutions;

• failure of our solutions to comply with current laws and regulations; and

• failure of our solutions to adapt to changes in the regulatory environment in an efficient, cost-effective manner.

Fraudulent or unpermitted data access and other security or privacy breaches may negatively impact our business and harm our reputation.

Security breaches in our facilities, computer networks, and databases may cause harm to our business and reputation and result in a loss of customers. Our systems may be vulnerable to physical break-ins, computer viruses, attacks by hackers and similar disruptive problems. Third-party contractors also may experience security breaches involving the storage and transmission of

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proprietary information. If users gain improper access to our databases, they may be able to steal, publish, delete or modify confidential third-party information that is stored or transmitted on our networks.

In addition, customers’, employees’ or other’s misuse of and/or gaining unpermitted access to or failure to properly secure our information or services could cause harm to our business and reputation and result in loss of customers. Any such misappropriation and/or misuse of or failure to properly secure our information could result in us, among other things, being in breach of certain data protection and related legislation.

A security or privacy breach may affect us in the following ways:

• deterring customers from using our solutions;

• deterring data suppliers from supplying data to us;

• harming our reputation;

• exposing us to liability;

• increasing operating expenses to correct problems caused by the breach;

• affecting our ability to meet customers’ expectations; and/or

• causing inquiry from governmental authorities.

Incidents in which consumer data has been fraudulently or improperly acquired or viewed, or any other security or privacy breaches, may occur and could go undetected. The number of potentially affected consumers identified by any future incidents is obviously unknown. Any such incident could materially and adversely affect our business, reputation, financial condition, operating results and cash flows.

We typically face a long selling cycle to secure new contracts that requires significant resource commitments, which result in a long lead time before we receive revenues from new relationships.

We typically face a long selling cycle to secure a new contract and there is generally a long preparation period in order to commence providing the services. We typically incur significant business development expenses during the selling cycle and we may not succeed in winning a new customer’s business, in which case we receive no revenues and may receive no reimbursement for such expenses. Even if we succeed in developing a relationship with a potential new customer, we may not be successful in obtaining contractual commitments after the selling cycle or in maintaining contractual commitments after the implementation cycle, which may have a material adverse effect on our business, results of operations and financial condition.

We may lose key business assets, including loss of data center capacity or the interruption of telecommunications links, the internet, or power sources, which could significantly impede our ability to do business.

Our operations depend on our ability, as well as that of third-party service providers to whom we have outsourced several critical functions, to protect data centers and related technology against damage from hardware failure, fire, flood, power loss, telecommunications failure, impacts of terrorism, breaches in security (such as the actions of computer hackers), natural disasters, or other disasters. Certain of our facilities are located in areas that could be impacted by coastal flooding, earthquakes or other disasters. The on-line services we provide are dependent on links to telecommunications providers. In addition, we generate a significant amount of our revenues through telesales centers and websites that we utilize in the acquisition of new customers, fulfillment of solutions and services and responding to customer inquiries. We may not have sufficient redundant operations to cover a loss or failure in all of these areas in a timely manner. Certain of our customer contracts provide that our on-line servers may not be unavailable for specified periods of time. Any damage to our data centers, failure of our telecommunications links or inability to access these telesales centers or websites could cause interruptions in operations that materially adversely affect our ability to meet customers’ requirements, resulting in decreased revenue, operating income and earnings per share.

We are subject to competition in many of the markets in which we operate and we may not be able to compete effectively.

Some markets in which we operate or which we believe may provide growth opportunities for us are highly competitive, and are expected to remain highly competitive. We compete on the basis of quality, customer service, product and service selection and price. Our competitive position in various market segments depends upon the relative strength of competitors in the segment and the resources devoted to competing in that segment. Due to their size, certain competitors may be able to allocate greater resources to a particular market segment than we can. As a result, these competitors may be in a better position to anticipate and respond to changing customer preferences, emerging technologies and market trends. In addition, new competitors and alliances may emerge to take market share away, and as we enter into new lines of business, due to acquisition or otherwise, we face competition from new players with different competitive dynamics. We may be unable to maintain our competitive position in our market segments, especially against larger competitors. We may also invest further to upgrade our systems in order to compete. If we fail to successfully compete, our business, financial position and results of operations may be adversely affected.

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To the extent the availability of free or relatively inexpensive information increases, the demand for some of our solutions may decrease.

Public sources of free or relatively inexpensive information have become increasingly available recently, particularly through the Internet, and this trend is expected to continue. Governmental agencies in particular have increased the amount of information to which they provide free public access. Public sources of free or relatively inexpensive information may reduce demand for our solutions. To the extent that customers choose not to obtain solutions from us and instead rely on information obtained at little or no cost from these public sources, our business and results of operations may be adversely affected.

Our senior leadership team is critical to our continued success and the loss of such personnel could harm our business.

Our future success substantially depends on the continued service and performance of the members of our senior leadership team. These personnel possess business and technical capabilities that are difficult to replace. Members of our senior management operating team have been with us for an average of almost 18 years.

However, we do not have employee contracts with the members of our senior management operating team. If we lose key members of our senior management operating team, we may not be able to effectively manage our current operations or meet ongoing and future business challenges, and this may have a material adverse effect on our business, results of operations and financial condition.

We may fail to attract and retain enough qualified employees to support our operations, which could have an adverse effect on our ability to expand our business and service our customers.

Our business relies on large numbers of skilled employees and our success depends on our ability to attract, train and retain a sufficient number of qualified employees. If our attrition rate increases, our operating efficiency and productivity may decrease. We compete for employees not only with other companies in our industry but also with companies in other industries, such as software services, engineering services and financial services companies, and there is a limited pool of employees who have the skills and training needed to do our work.

If our business continues to grow, the number of people we will need to hire will increase. We will also need to increase our hiring if we are not able to maintain our attrition rate through our current recruiting and retention policies. Increased competition for employees could have an adverse effect on our ability to expand our business and service our customers, as well as cause us to incur greater personnel expenses and training costs.

We are subject to antitrust, consumer protection and other litigation, and may in the future become subject to further such litigation; an adverse outcome in such litigation could have a material adverse effect on our financial condition, revenues and profitability.

We participate in businesses (particularly insurance-related businesses and services) that are subject to substantial litigation, including antitrust and consumer protection litigation. In addition, our insurance specialists are in the business of providing advice on standard contract terms, which if challenged could expose us to substantial reputational harm and possible liability. We are subject to the provisions of a 1995 settlement agreement in an antitrust lawsuit brought by various state Attorneys General and private plaintiffs which imposes certain constraints with respect to insurer involvement in our governance and business. We currently are defending against putative class action lawsuits in which it is alleged that certain of our subsidiaries unlawfully have conspired with insurers with respect to their payment of insurance claims. See “Item 3. Legal Proceedings.” Our failure to successfully defend or settle such litigation could result in liability that, to the extent not covered by our insurance, could have a material adverse effect on our financial condition, revenues and profitability. Given the nature of our business, we may be subject to similar litigation in the future. Even if the direct financial impact of such litigation is not material, settlements or judgments arising out of such litigation could include further restrictions on our ability to conduct business, including potentially the elimination of entire lines of business, which could increase our cost of doing business and limit our prospects for future growth.

General economic, political and market forces and dislocations beyond our control could reduce demand for our solutions and harm our business.

The demand for our solutions may be impacted by domestic and international factors that are beyond our control, including macroeconomic, political and market conditions, the availability of short-term and long-term funding and capital, the level and volatility of interest rates, currency exchange rates and inflation. The United States economy recently experienced periods of contraction and both the future domestic and global economic environments may continue to be less favorable than those of prior years. Any one or more of these factors may contribute to reduced activity and prices in the securities markets generally and could result in a reduction in demand for our solutions, which could have an adverse effect on our results of operations and financial

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condition. A significant additional decline in the value of assets for which risk is transferred in market transactions could have an adverse impact on the demand for our solutions.

If there are substantial sales of our common stock, our stock price could decline.

The market price of our common stock could decline as a result of sales of a large number of shares of common stock in the market, or the perception that these sales could occur. These sales, or the possibility that these sales may occur, also might make it more difficult for us to sell equity securities in the future at a time and at a price that we deem attractive. As of December 31, 2014, our ten largest shareholders owned 48.7% of our Class A common stock including 7.4% of our Class A common stock owned by our Employee Stock Ownership Plan or ESOP. Such stockholders are able to sell their common stock in the public market from time to time without registration, and subject to limitations on the timing, amount and method of those sales imposed by securities laws. If any of these stockholders were to sell a large number of their common stock, the market price of our common stock could decline significantly. In addition, the perception in the public markets that sales by them might occur could also adversely affect the market price of our common stock.

Pursuant to our equity incentive plans, options to purchase approximately 8,986,583 shares of Class A common stock were outstanding as of February 20, 2015. We filed a registration statement under the Securities Act, which covers the shares available for issuance under our equity incentive plans (including for such outstanding options) as well as shares held for resale by our existing stockholders that were previously issued under our equity incentive plans. Such further issuance and resale of our common stock could cause the price of our common stock to decline.

Also, in the future, we may issue our securities in connection with investments and acquisitions. The amount of our common stock issued in connection with an investment or acquisition could constitute a material portion of our then outstanding common stock.

Our capital structure, level of indebtedness and the terms of anti-takeover provisions under Delaware law and in our amended and restated certificate of incorporation and bylaws could diminish the value of our common stock and could make a merger, tender offer or proxy contest difficult or could impede an attempt to replace or remove our directors.

We are a Delaware corporation and the anti-takeover provisions of the Delaware General Corporation Law may discourage, delay or prevent a change in control by prohibiting us from engaging in a business combination with an interested stockholder for a period of three years after the person becomes an interested stockholder, even if a change of control would be beneficial to our existing stockholders. In addition, our certificate of incorporation and bylaws may discourage, delay or prevent a change in our management or control over us that stockholders may consider favorable or make it more difficult for stockholders to replace directors even if stockholders consider it beneficial to do so. Our certificate of incorporation and bylaws:

• authorize the issuance of “blank check” preferred stock that could be issued by our board of directors to increase the number of outstanding shares to thwart a takeover attempt;

• prohibit cumulative voting in the election of directors, which would otherwise allow holders of less than a majority of the stock to elect some directors;

• require that vacancies on the board of directors, including newly-created directorships, be filled only by a majority vote of directors then in office;

• limit who may call special meetings of stockholders;

• prohibit stockholder action by written consent, requiring all stockholder actions to be taken at a meeting of the stockholders; and

• establish advance notice requirements for nominating candidates for election to the board of directors or for proposing matters that can be acted upon by stockholders at stockholder meetings.

In addition, Section 203 of the Delaware General Corporation Law may inhibit potential acquisition bids for us. As a public company, we are subject to Section 203, which regulates corporate acquisitions and limits the ability of a holder of 15.0% or more of our stock from acquiring the rest of our stock. Under Delaware law, a corporation may opt out of the anti-takeover provisions, but we do not intend to do so.

These provisions may prevent a stockholder from receiving the benefit from any premium over the market price of our common stock offered by a bidder in a potential takeover. Even in the absence of an attempt to effect a change in management or a takeover attempt, these provisions may adversely affect the prevailing market price of our common stock if they are viewed as discouraging takeover attempts in the future.

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Item 1B. Unresolved Staff Comments

Not Applicable.

Item 2. Properties

Our headquarters are in Jersey City, New Jersey. As of December 31, 2014, our principal offices consisted of the following properties:

Location	Square Feet	Lease Expiration Date
Jersey City, New Jersey	390,991	December 31, 2033
Lehi, Utah	200,000	February 15, 2024
South Jordan, Utah	115,801	August 31, 2025
Boston, Massachusetts	69,806	November 30, 2020
White Plains, New York	50,511	August 31, 2021

We also lease offices in 16 states in the United States, and offices outside the United States to support our international operations in Brazil, Canada, China, Denmark, England, Germany, India, Israel, Japan, Nepal, and Singapore.

We believe that our properties are in good operating condition and adequately serve our current business operations. We also anticipate that suitable additional or alternative space, including those under lease options, will be available at commercially reasonable terms for future expansion.

Item 3. Legal Proceedings

We are party to legal proceedings with respect to a variety of matters in the ordinary course of business, including those matters described below. With respect to the ongoing matters, we are unable, at the present time, to determine the ultimate resolution of or provide a reasonable estimate of the range of possible loss attributable to these matters or the impact they may have on our results of operations, financial position or cash flows. This is primarily because the matters are generally in early stages and discovery has either not commenced or been completed. Although we believe we have strong defenses and intend to vigorously defend these matters, we could in the future incur judgments or enter into settlements of claims that could have a material adverse effect on our results of operations, financial position or cash flows.

Interthinx, Inc. Litigation

On May 13, 2013, we were served with a putative class action titled Celeste Shaw v. Interthinx, Inc., Verisk Analytics, Inc. and Jeffrey Moyer. The plaintiff is a current employee of our former subsidiary Interthinx, Inc. based in Colorado, who filed the class action in the United States District Court for the District of Colorado on behalf of all fraud detection employees who have worked for Interthinx for the last three years nationwide and who were classified as exempt employees. The class complaint claims that the fraud detection employees were misclassified as exempt employees and, as a result, were denied certain wages and benefits that would have been received if they were properly classified as non-exempt employees. It pleads three causes of action against defendants: (1) Collective Action under section 216(b) of the Fair Labor Standards Act for unpaid overtime (nationwide class); (2) A Fed. R. Civ. P. 23 class action under the Colorado Wage Act and Wage Order for unpaid overtime and (3) A Fed. R. Civ. P. 23 class action under Colorado Wage Act for unpaid commissions/nondiscretionary bonuses (Colorado class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, declaratory and injunctive relief interest, costs and attorneys’ fees.

On July 2, 2013, we were served with a putative class action titled Shabnam Shelia Dehdashtian v. Interthinx, Inc. and Verisk Analytics, Inc. in the United States District Court for the Central District of California. The plaintiff, Shabnam Shelia Dehdashtian, a former mortgage auditor at our former subsidiary Interthinx, Inc. in California, filed the class action on behalf of all persons who have been employed by Interthinx as auditors, mortgage compliance underwriters and mortgage auditors nationwide at any time (i) within 3 years prior to the filing of this action until trial for the Fair Labor Standards Act (FLSA) class and (ii) within 4 years prior to the filing of the initial complaint until trial for the California collective action. The class complaint claims that the defendants failed to pay overtime compensation, to provide rest and meal periods, waiting time penalties and to provide accurate wage statements to the plaintiffs as required by federal and California law. It pleads seven causes of action against defendants: (1) Failure to pay overtime compensation in violation of the FLSA for unpaid overtime (nationwide class); (2) Failure to pay overtime

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compensation in violation of Cal. Lab. Code sections 510, 1194 and 1198 and IWC Wage Order No. 4; (3) Failure to pay waiting time penalties in violation of Cal. Lab. Code sections 201-203; (4) Failure to provide itemized wage statements in violation of Cal. Lab. Code section 226 and IWC Order No. 4; (5) Failure to provide and or authorize meal and rest periods in violation of Cal. Lab. Code section 226.7 and IWC Order No. 4; (6) Violation of California Business and Professions Code sections 17200 et seq; and (7) a Labor Code Private Attorney General Act (PAGA) Public enforcement claim, Cal. Lab. Code section 2699 (California class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, equitable and injunctive relief, interest, costs and attorneys’ fees.

On October 14, 2013, we received notice of a claim titled Dejan Nagl v. Interthinx Services, Inc. filed in the California Labor and Workforce Development Agency. The claimant, Dejan Nagl, a former mortgage auditor at our former subsidiary Interthinx, Inc. in California, filed the claim on behalf of himself and all current and former individuals employed in California as auditors by Interthinx, Inc. for violations of the California Labor Code and Wage Order. The claimant alleges on behalf of himself and other auditors the following causes of action: (1) Failure to provide rest breaks and meal periods in violation of Cal. Lab. Code sections 226.7, 514 and 1198; (2) Failure to pay overtime wages in violation of Cal. Lab. Code sections 510 and 1194; (3) Failure to provide accurate wage statements in violation of Cal. Lab. Code section 226; (4) Failure to timely pay wages in violation of Cal. Lab. Code section 204; and (5) Failures to timely pay wages for violations of Cal. Lab. Code sections 201- 203. The claim seeks compensatory damages and penalties that are associated with the various statutes, costs and attorneys’ fees.

On March 11, 2014, we sold 100 percent of the stock of Interthinx (see Note 6 Discontinued Operations for additional details). Pursuant to the terms of the sale agreement, we are responsible for the resolution of these matters. In October 2014, the parties agreed to a Joint Stipulation of Settlement and Release resolving the Shaw, Dehdashtian and Nagl matters which provides for a payment of $6.0 million, the majority of which is to be paid by insurance. The United States District Court for the District of Colorado granted Preliminary Approval of the Joint Stipulation of Settlement and Release on November 21, 2014 and scheduled the Final Fairness Hearing for April 3, 2015.

Mariah Re Litigation

On July 8, 2013, we were served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Mariah Re LTD. v. American Family Mutual Insurance Company, ISO Services, Inc. and AIR Worldwide Corporation, which was amended by the plaintiff on October 18, 2013 (the “Amended Complaint”). Plaintiff Mariah is a special purpose vehicle established to provide reinsurance to defendant American Family Insurance. Mariah entered into contracts with our ISO Services, Inc. and AIR Worldwide Corporation subsidiaries, pursuant to which, among other things, Mariah (i) licensed the right to utilize information published in Catastrophe Bulletins issued by the Property Claims Services division of ISO Services, Inc. and (ii) engaged AIR Worldwide Corporation as Calculation Agent to compute certain reinsured losses. The Amended Complaint alleges the following causes of action: (1) breach of contract against ISO Services, Inc, AIR Worldwide Corporation, and American Family; (2) unjust enrichment against American Family; (3) conversion against American Family; (4) tortious interference with contract against American Family; (5) declaratory judgment against all defendants and (6) specific performance against all defendants. The Amended Complaint seeks declaratory relief, specific performance, restitution, monetary damages and attorneys’ fees.

On November 20, 2013, the three defendants filed motions to dismiss the Amended Complaint.

On September 30, 2014, the District Court granted defendants’ motions and dismissed the Amended Complaint in its entirety, with prejudice. Mariah filed a Notice of Appeal on October 28, 2014. Briefing of the appeal was completed on February 13, 2015.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

MediConnect Global, Inc. Litigation

On October 11, 2013, we were served with a summons and complaint in an action titled Naveen Trehan v. MediConnect Global, Inc., Amy Anderson and Verisk Health, Inc. filed on October 9, 2013 in the United States District Court for the District of Utah. The complaint, brought by a former minority shareholder of our subsidiary, MediConnect Global, Inc., arises from MediConnect’s buyout of Naveen Trehan and his family members’ shares on October 15, 2010. Plaintiff claims that the sale of the shares was based on MediConnect’s representations concerning third parties that had expressed interest in an acquisition, merger or investment in MediConnect at that time. Plaintiff claims that MediConnect did not disclose us, which purchased MediConnect on March 23, 2012, as a possible suitor. The complaint alleges four causes of action: (1) Breach of fiduciary duty against MediConnect and Amy Anderson for failure to disclose our interest in acquiring, merging with or investing in MediConnect prior to the buyout of his shares; (2) Fraud against  Amy Anderson and MediConnect for intentionally providing false information

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to plaintiff with the purpose of inducing him to agree to sell his shares at an artificially low price; (3) Negligent misrepresentation against Amy Anderson and MediConnect for their negligent failure to discover and disclose our interest in acquiring MediConnect prior to the buyout of plaintiff’s shares and (4) a Violation of SEC Rule 10b-5 against Amy Anderson and MediConnect for defrauding plaintiff and failing to disclose material information in connection with the sale of securities.  The complaint seeks joint and several recovery from Amy Anderson and MediConnect for compensatory damages, punitive damages, and disgorgement of all profits earned through the investment of plaintiff’s funds, attorneys’ fees, interest and an order from the court that plaintiff’s funds be held in a constructive trust.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

Insurance Services Office, Inc. Litigation

In October 2013, we were served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Laurence J. Skelly and Ellen Burke v. Insurance Services Office, Inc. and the Pension Plan for Insurance Organizations. The plaintiffs, former employees of our subsidiary Insurance Services Office, Inc., or ISO, bring the action on their own behalf as participants in the Pension Plan for Insurance Organizations and on the behalf of similarly situated participants of the pension plan and ask the court to declare that a certain amendment to the pension plan as of December 31, 2001, which terminated their right to calculate and define the value of their retirement benefit under the pension plan based on their compensation levels as of immediately prior to their “retirement”, or the Unlawful Amendment, violated the anti-cutback provisions and equitable principles of ERISA. The First Amended Class Action Complaint, or the Amended Complaint, alleges that (1) the Unlawful Amendment of the pension plan violated Section 502(a)(1)(B) of ERISA as well as the anti-cutback rules of ERISA Section 204(g) and Section 411(d)(6) of the Internal Revenue Code; (2) ISO’s failure to provide an ERISA 204(h) notice in a manner calculated to be understood by the average pension plan participant was a violation of Sections 204(h) and 102(a) of ERISA; and (3) the Living Pension Right was a contract right under ERISA common law and that by terminating that right through the Unlawful Amendment ISO violated plaintiffs’ common law contract rights under ERISA. The Amended Complaint seeks declaratory, equitable and injunctive relief enjoining the enforcement of the Unlawful Amendment and ordering the pension plan and ISO retroactive to the date of the Unlawful Amendment to recalculate the accrued benefits of all class members, indemnification from ISO to the pension plan for costs and contribution requirements related to voiding the Unlawful Amendment, bonuses to the class representatives, costs and attorney’s fees. On September 12, 2014, the District Court granted ISO’s motion to dismiss the Amended Complaint finding that ISO provided ample, clear and sufficient notice of the 2002 Amendment to the Plan and that plaintiffs’ claims were time barred. Plaintiffs filed their Notice of Appeal on October 14, 2014 and all briefing of the appeal is complete.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

On August 1, 2014 we were served with an Amended Complaint filed in the United States District Court for the District of Colorado titled Snyder, et. al. v. ACORD Corp., et al. The action is brought by nineteen individual plaintiffs, on their own behalf and on behalf of a putative class, against more than 120 defendants, including us and our subsidiary, Insurance Services Office, Inc. or ISO. Except for us, ISO and the defendant Acord Corporation, which provides standard forms to assist in insurance transactions, most of the other defendants are property and casualty insurance companies that plaintiffs claim conspired to underpay property damage claims. Plaintiffs claim that we and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law. On September 8, 2014, the Court entered an Order striking the Amended Complaint and granting leave to the plaintiffs to file a new complaint. On October 13, 2014, plaintiffs filed their Second Amended Complaint that continues to allege that the defendants conspired to underpay property damage claims, but does not specifically allege what role we or ISO played in the alleged conspiracy. The Second Amended Complaint similarly alleges that we and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law, and seeks all available relief including, injunctive, statutory, actual and punitive damages as well as attorneys’ fees.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

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Item 4. Mine Safety Disclosures

Not Applicable.

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information

Verisk trades under the ticker symbol “VRSK” on the NASDAQ Global Select Market. Our common stock was first publicly traded on October 7, 2009. As of February 20, 2015, the closing price of our Class A common stock was $67.80 per share, as reported by the NASDAQ Global Select Market. As of February 20, 2015, there were approximately 33 Class A stockholders of record. We believe the number of beneficial owners is substantially greater than the number of record holders for Class A, because a large portion of Class A common stock is held in “street name” by brokers.

We have not paid or declared any cash dividends on our Class A common stock during the two most recent fiscal years and we currently do not intend to pay dividends on our Class A common stock. We do have a publicly announced share repurchase plan and have repurchased 45,222,306 shares since our IPO. As of December 31, 2014, we had 386,089,811 shares of treasury stock.

The following table shows the quarterly range of the closing high and low per share sales prices for our common stock as reported by the NASDAQ Global Select Market for the years ending December 31:

		2014				2013
		High		Low		High		Low
Fourth Quarter	$	65.15	$	59.07	$	68.74	$	61.27
Third Quarter	$	64.77	$	59.42	$	66.53	$	60.47
Second Quarter	$	61.79	$	56.55	$	61.29	$	57.70
First Quarter	$	66.05	$	59.87	$	61.62	$	52.98

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Performance Graph

The graph below compares the cumulative total stockholder return on $100 invested in our Class A common stock, with the cumulative total return (assuming reinvestment of dividends) on $100 invested in each of the NASDAQ Composite Index, S&P 500 Index and an aggregate of peer issuers in the information industry since December 31, 2009. The peer issuers used for this graph are Dun & Bradstreet Corporation, Equifax Inc., Factset Research Systems Inc., Fair Isaac Corporation, IHS Inc, Morningstar, Inc., MSCI Inc., and Solera Holdings, Inc. Each peer issuer was weighted according to its respective market capitalization on December 31, 2009.

COMPARISON OF CUMULATIVE TOTAL RETURN

Assumes $100 Invested on December 31, 2009

Assumes Dividend Reinvested

Fiscal Year Ended December 31, 2014

Recent Sales of Unregistered Securities

There were no unregistered sales of equity securities by the Company during 2014.

Issuer Purchases of Equity Securities

Our board of directors has authorized a share repurchase program, or Repurchase Program, up to $2.0 billion, including a $500.0 million accelerated share repurchase program, or ASR Program, announced on December 16, 2014. Excluding the ASR Program, $189.8 million remains available as of December 31, 2014. Under the Repurchase Program, we may repurchase stock in the market or as otherwise determined by us. These authorizations have no expiration dates and may be suspended or terminated at any time. Our shares repurchased for the quarter ended December 31, 2014 is set forth below:

Period	Total Number of Shares Purchased		Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
						(in thousands)
October 1, 2014 through October 31, 2014	691,260	$	60.10	691,260	$	238,772
November 1, 2014 through November 30, 2014	479,830	$	62.79	479,830	$	208,645
December 1, 2014 through December 31, 2014	6,672,472	$	62.77	6,672,472	$	189,807
	7,843,562			7,843,562

In connection with the ASR program, we paid the aggregate purchase price in December 2014 and received an initial delivery of 6,372,472 common shares at a price of $62.77 per share, representing approximately $400.0 million of the aggregate purchase price. As of December 31, 2014, the shares associated with the remaining portion of the aggregate purchase price have

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not yet been settled. We anticipate that all repurchases under the ASR Program will be completed no later than the final settlement in June 2015, at which time we may be entitled to receive additional common shares or, under certain limited circumstances, be required to deliver shares to the counterparties or, at our election, pay cash to the counterparties.

Item 6. Selected Financial Data

The following selected historical financial data should be read in conjunction with, and are qualified by reference to, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes thereto included elsewhere in this annual report on Form 10-K. The consolidated statement of operations data for the years ended December 31, 2014, 2013 and 2012 and the consolidated balance sheet data as of December 31, 2014 and 2013 are derived from the audited consolidated financial statements included elsewhere in this annual report on Form 10-K. The consolidated statement of operations data for the years ended December 31, 2011 and 2010 and the consolidated balance sheet data as of December 31, 2012, 2011 and 2010 are derived from consolidated financial statements that are not included in this annual report on Form 10-K. Results for the year ended December 31, 2014 are not necessarily indicative of results that may be expected in any other future period.

Between January 1, 2010 and December 31, 2014, we acquired 12 businesses, which may affect the comparability of our consolidated financial statements. Our consolidated financial statements have been retroactively adjusted in all periods presented to give recognition to the discontinued operations of our mortgage services business. The following table sets forth our statement of operations for the years ended December 31:

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	2014			2013			2012			2011			2010
	(In thousands, except for share and per share data)
Revenues:
Decision Analytics	$	1,096,074		$	977,427		$	828,342		$	639,100		$	461,743
Risk Assessment		650,652			618,276			579,506			552,293			530,542
Revenues		1,746,726			1,595,703			1,407,848			1,191,393			992,285
Expenses:
Cost of revenues		716,598			622,523			516,708			440,979			376,270
Selling, general and administrative		227,306			228,982			220,068			199,495			157,596
Depreciation and amortization of fixed assets		85,506			66,190			46,637			40,135			35,835
Amortization of intangible assets		56,870			63,741			52,207			32,985			25,202
Acquisition related liabilities adjustment (1)		—			—			—			(3,364	)		(544	)
Total expenses		1,086,280			981,436			835,620			710,230			594,359
Operating income		660,446			614,267			572,228			481,163			397,926
Other income (expense):
Investment income and others		158			609			106			879			374
Interest expense		(69,984	)		(76,136	)		(72,508	)		(53,847	)		(34,664	)
Total other expense, net		(69,826	)		(75,527	)		(72,402	)		(52,968	)		(34,290	)
Income before income taxes from continuing operations		590,620			538,740			499,826			428,195			363,636
Provision for income taxes		(219,755	)		(196,426	)		(182,363	)		(165,739	)		(148,235	)
Income from continuing operations		370,865			342,314			317,463			262,456			215,401
Income from discontinued operations, net of tax (2)		29,177			6,066			11,679			20,302			27,151
Net income	$	400,042		$	348,380		$	329,142		$	282,758		$	242,552
Basic net income per share
Income from continuing operations	$	2.24		$	2.04		$	1.91		$	1.58		$	1.21
Income from discontinued operations		0.17			0.03			0.07			0.12			0.15
Basic net income per share	$	2.41		$	2.07		$	1.98		$	1.70		$	1.36
Diluted net income per share
Income from continuing operations	$	2.20		$	1.99		$	1.85		$	1.51		$	1.16
Income from discontinued operations		0.17			0.03			0.07			0.12			0.14
Diluted net income per share	$	2.37		$	2.02		$	1.92		$	1.63		$	1.30
Weighted average shares outstanding:
Basic		165,823,803			168,031,412			165,890,258			166,015,238			177,733,503
Diluted		169,132,423			172,276,360			171,709,518			173,325,110			186,394,962

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The financial operating data below sets forth the information we believe is useful for investors in evaluating our overall financial performance for the years ended December 31:

	2014		2013		2012		2011		2010
	(In thousands)
Other data:
EBITDA (3):
Decision Analytics EBITDA	$	489,798	$	413,342	$	379,655	$	305,837	$	240,623
Risk Assessment EBITDA		368,770		346,931		316,260		287,050		268,817
EBITDA	$	858,568	$	760,273	$	695,915	$	592,887	$	509,440
The following is a reconciliation of net income to EBITDA:
Net income	$	400,042	$	348,380	$	329,142	$	282,758	$	242,552
Depreciation and amortization of fixed and intangible assets from continuing operations		142,376		129,931		98,844		73,120		61,037
Interest expense from continuing operations		69,984		76,136		72,508		53,847		34,664
Provision for income taxes from continuing operations		219,755		196,426		182,363		165,739		148,235
Depreciation, amortization, interest and provision for income taxes from discontinued operations		26,411		9,400		13,058		17,423		22,952
EBITDA	$	858,568	$	760,273	$	695,915	$	592,887	$	509,440

The following table sets forth our consolidated balance sheet data as of the years ended December 31:

	2014		2013		2012		2011			2010
	(In thousands)
Balance Sheet Data:
Cash and cash equivalents	$	39,359	$	165,801	$	89,819	$	191,603		$	54,974
Total assets	$	2,345,330	$	2,504,451	$	2,360,336	$	1,541,106		$	1,217,090
Total debt (4)	$	1,436,932	$	1,275,887	$	1,461,425	$	1,105,886		$	839,543
Stockholders’ equity (deficit) (5)	$	211,043	$	547,589	$	255,591	$	(98,490	)	$	(114,442	)

(1) During the second quarter of 2011, we reevaluated the probability of D2Hawkeye and Strategic Analytics achieving the specified predetermined EBITDA and revenue targets for exceptional performance in fiscal year 2011 and reversed the contingent consideration related to these acquisitions. During the third quarter of 2010, we reevaluated the probability of TierMed achieving the specified predetermined EBITDA and revenue targets and reversed its contingent consideration related to this acquisition.

(2) On March 11, 2014, we sold our mortgage services business. See Note 10 of our consolidated financial statements included in this annual report on Form 10-K.

(3) EBITDA is the financial measure which management uses to evaluate the performance of our segments. “EBITDA” is defined as net income before interest expense, provision for income taxes, depreciation and amortization of fixed and intangible assets. Because EBITDA is calculated from net income, this presentation includes EBITDA from discontinued operations of our mortgage services business. In addition, this Management’s Discussion and Analysis includes references to EBITDA margin, which is computed as EBITDA divided by revenues from continuing and discontinued operations. See Note 18. of our consolidated financial statements included in this annual report on Form 10-K.

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Although EBITDA is a non-GAAP financial measure, EBITDA is frequently used by securities analysts, lenders and others in their evaluation of companies, EBITDA has limitations as an analytical tool, and should not be considered in isolation, or as a substitute for an analysis of our results of operations or cash flow from operating activities reported under GAAP. Management uses EBITDA in conjunction with traditional GAAP operating performance measures as part of its overall assessment of company performance. Some of these limitations are:

• EBITDA does not reflect our cash expenditures, or future requirements for capital expenditures or contractual commitments;

▪ EBITDA does not reflect changes in, or cash requirements for, our working capital needs;

▪ Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized often will have to be replaced in the future and EBITDA does not reflect any cash requirements for such replacements; and

▪ Other companies in our industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.

(4) Includes capital lease obligations.

(5) Subsequent to our corporate reorganization on October 6, 2009, share repurchases are recorded as treasury stock within stockholders’ equity (deficit), as we intend to reissue shares from treasury stock in the future. For the years ended December 31, 2014 and 2013, we repurchased $675.4 million and $278.9 million, respectively, of treasury stock.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our historical financial statements and the related notes included elsewhere in this annual report on Form 10-K, as well as the discussion under “Selected Consolidated Financial Data.” This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those discussed in or implied by any of the forward-looking statements as a result of various factors, including but not limited to those listed under “Risk Factors” and “Special Note Regarding Forward-Looking Statements.”

We enable risk-bearing businesses to better understand and manage their risks and opportunities associated with those risks. We provide value to our customers by supplying proprietary data that, combined with our analytic methods, creates embedded decision support solutions. We are the largest aggregator and provider of data pertaining to U.S. property and casualty, or P&C, insurance risks. We offer solutions for detecting fraud in the U.S. P&C insurance, financial services and healthcare industries and sophisticated methods to predict and quantify loss in diverse contexts ranging from natural catastrophes to supply chain to health insurance.

Our customers use our solutions to make better risk decisions with greater efficiency and discipline. We refer to these products and services as “solutions” due to the integration among our products and the flexibility that enables our customers to purchase components or the comprehensive package of products. These solutions take various forms, including data, statistical models or tailored analytics, all designed to allow our clients to make more logical decisions. We believe our solutions for analyzing risk positively impact our customers’ revenues and help them better manage their costs.

On May 23, 2008, in contemplation of our IPO, Insurance Service Office, Inc., or ISO, formed Verisk Analytics, Inc., or Verisk, a Delaware corporation, to be the holding company for our business. Verisk was initially formed as a wholly-owned subsidiary of ISO. On October 6, 2009 in connection with our IPO, we effected a reorganization whereby ISO became a wholly-owned subsidiary of Verisk.

On October 1, 2010, we completed a follow-on public offering. We did not receive any proceeds from the sale of common stock in the offering. The primary purpose of the offering was to manage and organize the sale by Class B insurance company shareholders while providing incremental public float. Concurrently with the closing of the offering, we repurchased shares of common stock, for an aggregate purchase price of $192.5 million, directly from selling shareholders owning Class B common stock. We converted all Class B shares to Class A shares in 2011 and currently have no outstanding Class B shares.

We organize our business in two segments: Risk Assessment and Decision Analytics. Our Risk Assessment segment provides statistical, actuarial and underwriting data for the U.S. P&C insurance industry. Our Risk Assessment segment revenues represented approximately 37.2% and 38.7% of our revenues for the years ended December 31, 2014 and 2013, respectively. Effective December 31, 2012, we combined the statistical agency and data services and actuarial services into industry-standard insurance programs within our Risk Assessment segment. Our Decision Analytics segment provides solutions our customers use to analyze the processes of the Verisk Risk Analysis Framework: Prediction of Loss, Detection and Prevention of Fraud, and

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Quantification of Loss. Our Decision Analytics segment revenues represented approximately 62.8% and 61.3% of our revenues for the years ended December 31, 2014 and 2013, respectively.

In January 2014, we entered into an agreement to acquire 100% of the stock of Eagleview Technology Corporation, or EVT, the parent company of Pictometry International Corp., and Eagle View Technologies, Inc. for a net cash purchase price of $650 million, which would have been funded by the Company's operating cash and borrowings from our credit facility. EVT is a provider of geo-referenced aerial image capture and visual-centric data analytics and solutions to insurers, contractors, government, and commercial customers in the United States. On December 16, 2014, we ended our efforts to acquire EVT following the vote by the Federal Trade Commission, or FTC, to challenge the transaction.

On March 11, 2014, we sold our mortgage services business, Interthinx, Inc., or Interthinx. From 2009 to 2011, the mortgage services business was in both Risk Assessment segment within the insurance services revenue category and Decision Analytics segment in the financial services revenue category. In 2012, we reclassified the appraisal mortgage tools from Risk Assessment to our Decision Analytics segment in the financial services revenue category. Therefore, in 2012 and 2013, the mortgage services business is within Decision Analytics segment. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. See Note 10 of our consolidated financial statements included in this annual report on Form 10-K. As necessary, the amounts have been retroactively adjusted in all periods presented to give recognition to the discontinued operations.

Executive Summary

Key Performance Metrics

We believe our business’s ability to generate recurring revenue and positive cash flow is the key indicator of the successful execution of our business strategy. We use year over year revenue growth and EBITDA margin as metrics to measure our performance. EBITDA and EBITDA margin are non-GAAP financial measures (see Note 3. within Item 6. Selected Financial Data section of Management’s Discussion and Analysis of Financial Condition and Results of Operations).

Revenue growth. We use year over year revenue growth as a key performance metric. We assess revenue growth based on our ability to generate increased revenue through increased sales to existing customers, sales to new customers, sales of new or expanded solutions to existing and new customers and strategic acquisitions of new businesses.

EBITDA margin. We use EBITDA margin as a metric to assess segment performance and scalability of our business. We assess EBITDA margin based on our ability to increase revenues while controlling expense growth.

Revenues

We earn revenues through subscriptions, long-term agreements and on a transactional basis. Subscriptions for our solutions are generally paid in advance of rendering services either quarterly or in full upon commencement of the subscription period, which is usually for one year and automatically renewed each year. As a result, the timing of our cash flows generally precedes our recognition of revenues and income and our cash flow from operations tends to be higher in the first quarter as we receive subscription payments. Examples of these arrangements include subscriptions that allow our customers to access our standardized coverage language, our claims fraud database or our actuarial services throughout the subscription period. In general, we experience minimal revenue seasonality within the business. Our long-term agreements are generally for periods of three to five years. We recognize revenue from subscriptions ratably over the term of the subscription and most long-term agreements are recognized ratably over the term of the agreement.

Certain of our solutions are also paid for by our customers on a transactional basis. For example, we have solutions that allow our customers to obtain property-specific rating and underwriting information to price a policy on a commercial building, or compare a P&C insurance, medical or workers’ compensation claim with information in our databases. For the years ended December 31, 2014 and 2013, 27.7% and 26.4% of our revenues, respectively, were derived from providing transactional solutions. We earn transactional revenues as our solutions are delivered or services performed. In general, transactions are billed monthly at the end of each month.

Approximately 89.6% and 88.2% of the revenues in our Risk Assessment segment for the years ended December 31, 2014 and 2013, respectively, were derived from subscriptions and long-term agreements for our solutions. Our customers in this segment include most of the P&C insurance providers in the United States. Approximately 61.9% and 64.4% of the revenues in our Decision Analytics segment, for the years ended December 31, 2014 and 2013, respectively, were derived from subscriptions and long-term agreements for our solutions. In this segment, customer bases are within the insurance, healthcare, financial services and specialized markets verticals.

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Principal Operating Costs and Expenses

Personnel expenses are the major component of both our cost of revenues and selling, general and administrative expenses. Personnel expenses, which represented 56.8% and 59.7% of our total expenses for the years ended December 31, 2014 and 2013, respectively, include salaries, benefits, incentive compensation, equity compensation costs, sales commissions, employment taxes, recruiting costs, and outsourced temporary agency costs.

We allocate personnel expenses between two categories, cost of revenues and selling, general and administrative costs, based on the actual costs associated with each employee. We categorize employees who maintain our solutions as cost of revenues, and all other personnel, including executive managers, sales people, marketing, business development, finance, legal, human resources, and administrative services, as selling, general and administrative expenses. A significant portion of our other operating costs, such as facilities and communications, are also either captured within cost of revenues or selling, general and administrative expense based on the nature of the work being performed.

While we expect to grow our headcount over time to take advantage of our market opportunities, we believe that the economies of scale in our operating model will allow us to grow our personnel expenses at a lower rate than revenues. Historically, our EBITDA margin has improved because we have been able to increase revenues without a proportionate corresponding increase in expenses. However, part of our corporate strategy is to invest in new solutions which may offset margin expansion.

Cost of Revenues. Our cost of revenues consists primarily of personnel expenses. Cost of revenues also includes the expenses associated with the acquisition and verification of data, the maintenance of our existing solutions and the development and enhancement of our next-generation solutions. Our cost of revenues excludes depreciation and amortization.

Selling, General and Administrative Expense. Our selling, general and administrative expense also consists primarily of personnel costs. A portion of the other operating costs such as facilities, insurance and communications are also allocated to selling, general and administrative costs based on the nature of the work being performed by the employee. Our selling, general and administrative expenses excludes depreciation and amortization.

Trends Affecting Our Business

We serve customers in three primary vertical markets: property/casualty insurance, healthcare, and financial services. The industry trends in each of those markets can affect our business.

A significant change in property/casualty insurers’ profitability could positively or negatively affect demand for our solutions. For insurers, the keys to profitability include investment income and premium growth.  Investment income remains under pressure as a result of low interest rates. Growth in property/casualty insurers’ direct written premiums is cyclical, with total industry premium growth receding from a peak of 14.8% in 2002 to a trough of negative 3.1% in 2009 and subsequently recovering to 4.4% in 2012 and then receding to 4.3% in 2013 and 3.8% through nine-months 2014. Based on our experience, insurers more closely scrutinize their spending in periods of more challenging growth.  In recent years, we have signed multi-year contracts with certain customers, and pricing is fixed at the beginning of each multi-year period; pricing for other customers is still linked to prior years' premiums.

Trends in catastrophe and noncatastrophe weather losses can have an effect on our customers’ profitability and therefore their appetite for buying analytics to help them manage their risks. The apparent increase in the frequency and severity of weather events that cause losses for insurers could lead to increased demand for our catastrophe modeling, catastrophe loss information, and repair cost solutions. A significant decrease in the number or severity of catastrophes could negatively affect our revenues. We also have a portion of our revenue related to the number of claims processed due to losses which can be impacted by seasonal storm activity. The need by our customers to fight insurance fraud — both in claims and at policy inception — could lead to increased demand for our underwriting and claims solutions.

Trends in the U.S. healthcare market can affect a portion of our revenues in the Decision Analytics segment. That market is undergoing significant change as the result of healthcare reform legislation. The specific trends we see affecting our current healthcare business include payment reform, expansion of insurance coverage, and efforts at cost containment. Payment reform will likely drive the market to value-based reimbursement and require healthcare providers to bear increased financial risk and responsibility for quality outcomes. The expansion of insurance eligibility will increase Medicaid rolls and promote participation in statewide health exchanges. And as the government seeks to control fraud, waste, and abuse, efforts to contain costs will likely become more prevalent. Although such changes have the potential to disrupt the healthcare marketplace, we believe the requirements for reform could increase demand for our analytic solutions in the areas of population management, quality measurement provider/payer risk sharing and value-based payment management, Medicare Advantage revenue management and compliance, risk adjustment, and detection of prepayment fraud and abuse. We experience seasonality in our Medicare Advantage business tied to third and fourth quarters of our fiscal year, related to CMS deadlines.

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U.S. and global market trends can influence the revenue composition and growth trajectory of our financial services vertical.  Recent focus of global regulators on Basel-III compliance and US regulators on compliance to recently adopted 2009 Dodd-Frank laws on anti-money laundering, stress testing and capital adequacy have led to a significant shift of our data-hosting solution toward the meeting of those specific needs of our bank clients.  We expect that a rising interest rate environment is likely to put a significant margin pressure on our bank clients, and can resultantly impact their marketing budgets for growth. However, a strengthening American economy is likely to spur increased lending and could likely offset some of that budgetary risk. Trends associated with the strengthening U.S. dollar relative to several other international currencies (U.K., Canadian, Australian and New Zealand) is putting a downward pressure on our revenues from bank clients from overseas markets.  Lastly, a longer term shift of advertising spend from TV and radio toward digital media has resulted in a greater opportunity for our partnerships and media effectiveness line of businesses.

Description of Acquisitions

We acquired seven businesses since January 1, 2012. As a result of these acquisitions, our consolidated results of operations may not be comparable between periods.

On December 8, 2014, we acquired 100% of the stock of Maplecroft.Net Limited, or Maplecroft. Using a proprietary data aggregation and analytical approach, Maplecroft enables its customers to assess, monitor, and forecast a growing range of worldwide risks, including geopolitical and societal risks. Within our Decision Analytics segment, this acquisition positions us as a provider of value chain optimization tools, providing comprehensive quantitative risk analytics and platforms by which customers can visualize, quantify, mitigate, and manage their risk. Maplecroft is headquartered in Bath, England. See Note 9. to our consolidated financial statements included in this annual report on Form 10-K for the preliminary purchases price allocations.

On October 31, 2014, we acquired the net assets of Dart Consulting Limited, or Dart. Dart is a provider of benchmarking and advisory solutions to financial services institutions in Australia, New Zealand, and other key Asia-Pacific markets. As part of our Decision Analytics segment, Dart provides benchmarking solutions and professional services critical to financial services institutions in the management of lending and payment portfolios.

On January 29, 2014, we acquired the net assets of Inovatus, LLC, or Inovatus. The assets primarily consisted of software and are embedded in our existing models focusing on reducing fraud and premium leakage for personal auto insurance carriers. The technology is included in our Decision Analytics segment as part of its solutions to leverage data and analytics to help insurance companies improve results.

On December 20, 2012, we acquired the net assets of Insurance Risk Management Solutions, or IRMS. IRMS provided integrated property risk assessment technology underlying one of our GIS (geographic information system) underwriting solutions. At the end of 2012, this long-term contract (since 1992) with IRMS was expiring and precipitated a change in our business relationship. Instead of continuing forward with a new services agreement, we acquired the technology and service assets of IRMS as this will enable us to better manage, enhance and continue to use the solutions as part of our Risk Assessment segment. This acquisition had minimal revenue and operating expense impact for the year ending December 31, 2012, given the timing of the acquisition. See Note 9. to our consolidated financial statements included in this annual report on Form 10-K.

On August 31, 2012, we acquired Argus Information & Advisory Services, LLC, or Argus, a provider of information, competitive benchmarking, scoring solutions, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe. Argus leverages its comprehensive payment data sets and provides proprietary solutions to a client base that includes credit and debit card issuers, retail banks and other consumer financial services providers, payment processors, insurance companies, and other industry stakeholders. Within our Decision Analytics segment, this acquisition enhances our position as a provider of data, analytics, and decision-support solutions to financial institutions globally. See Note 9. to our consolidated financial statements included in this annual report on Form 10-K.

On July 2, 2012, we acquired the net assets of Aspect Loss Prevention, LLC, or ALP, a provider of loss prevention and analytic solutions to the retail, entertainment, and food industries. Within our Decision Analytics segment, this acquisition further advances our position as a provider of data, crime analytics, and decision-support solutions. See Note 9. to our consolidated financial statements included in this annual report on Form 10-K.

On March 30, 2012, we acquired 100% of the stock of MediConnect Global, Inc., or MediConnect, a service provider of medical record retrieval, digitization, coding, extraction, and analysis. Within our Decision Analytics segment, MediConnect further supports our objective to be the leading provider of data, analytics, and decision-support solutions to the healthcare and property casualty industries. See Note 9. to our consolidated financial statements included in this annual report on Form 10-K.

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Description of Discontinued Operations

On March 11, 2014, we sold our mortgage services business, Interthinx, for a price of $151.2 million. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. See Note 10 to our consolidated financial statements included in this annual report on Form 10-K.

Year Ended December 31, 2014 Compared to Year Ended December 31, 2013

Consolidated Results of Continuing Operations

Revenues

Revenues were $1,746.7 million for the year ended December 31, 2014 compared to $1,595.7 million for the year ended December 31, 2013, an increase of $151.0 million or 9.5%. In December 2014, we acquired Maplecroft within our Decision Analytics segment, a recent acquisition. Maplecroft provided an increase of $0.6 million in revenues for the year ended December 31, 2014. Excluding this recent acquisition, revenues increased $150.4 million or 9.4%. Revenue growth within Decision Analytics was primarily driven by our financial services, healthcare, and insurance categories. Both categories, industry-standard insurance programs and property-specific rating and underwriting information, within Risk Assessment contributed to its revenue growth. Refer to the Results of Continuing Operations by Segment within this section for further information regarding our revenues.

Cost of Revenues

Cost of revenues was $716.6 million for the year ended December 31, 2014 compared to $622.5 million for the year ended December 31, 2013, an increase of $94.1 million or 15.1%. Our recent acquisition of Maplecroft within the Decision Analytics segment, accounted for an increase of $0.5 million in cost of revenues for the year ended December 31, 2014 which were primarily related to salaries and employee benefits. Excluding the impact of our recent acquisition, our cost of revenues increased $93.6 million or 15.0%. The increase was primarily due to increases in salaries and employee benefits cost of $38.1 million. Other increases include data costs and data processing fees of $46.3 million (mostly related to our Decision Analytics segment), rent expense of $8.2 million, and information technology expense of $1.5 million. These are offset by a decrease in other operating costs of $0.5 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses, or SGA, were $227.3 million for the year ended December 31, 2014 compared to $229.0 million for the year ended December 31, 2013, a decrease of $1.7 million or 0.7%. Excluding costs associated with our recent acquisition of $0.1 million, SGA decreased $1.8 million or 0.8%. The decrease was primarily due to lower salaries and employee benefits of $7.3 million mostly related to the executive transition that took place in 2013, travel expenses of $0.9 million, and a decrease in other general expenses of $2.5 million. These decreases were offset by an increase in professional fees of $4.6 million, primarily related to our attempted acquisition of EVT, and information technology expense of $4.3 million.

Depreciation and Amortization of Fixed Assets

Depreciation and amortization of fixed assets was $85.5 million for the year ended December 31, 2014 compared to $66.2 million for the year ended December 31, 2013, an increase of $19.3 million or 29.2%. Depreciation and amortization of fixed assets includes depreciation of furniture and equipment, software, computer hardware, and related equipment. The majority of the increase relates to software and hardware costs to support data capacity expansion and revenue growth.

Amortization of Intangible Assets

Amortization of intangible assets was $56.9 million for the year ended December 31, 2014 compared to $63.7 million for the year ended December 31, 2013, a decrease of $6.8 million or 10.8%. The decrease was primarily related to intangible assets associated with prior acquisitions that have been fully amortized.

Investment Income and Others

Investment income and others, was a gain of $0.2 million for the year ended December 31, 2014 as compared to a gain of $0.6 million for the year ended December 31, 2013, a decrease of $0.4 million.

Interest Expense

Interest expense was $70.0 million for the year ended December 31, 2014 compared to $76.1 million for the year ended December 31, 2013, a decrease of $6.1 million or 8.1%. The decrease was primarily due to the repayment of the private placement

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debt of $180.0 million during 2013, consisting of $45.0 million that matured in April 2013, $100.0 million that matured in August 2013 and $35.0 million that matured in October 2013.

Provision for Income Taxes

The provision for income taxes was $219.8 million for the year ended December 31, 2014 compared to $196.4 million for the year ended December 31, 2013, an increase of $23.4 million or 11.9%. The effective tax rate was 37.2% for the year ended December 31, 2014 compared to 36.5% for the year ended December 31, 2013.

EBITDA Margin

The EBITDA margin for our consolidated results including discontinued operations, was 48.8% for the year ended December 31, 2014 compared to 44.6% for the year ended December 31, 2013. The discontinued operations including the gain on the sale of our mortgage services business increased our margin by 2.8% for the year ended December 31, 2014.

Results of Continuing Operations by Segment

Decision Analytics

Revenues

Revenues for our Decision Analytics segment were $1,096.1 million for the year ended December 31, 2014 compared to $977.4 million for the year ended December 31, 2013, an increase of $118.7 million or 12.1%. Our recent acquisition accounted for an increase of $0.6 million in revenues for the year ended December 31, 2014. Excluding Maplecroft, our Decision Analytics revenue increased $118.1 million or 12.1%. As described, our results in the Decision Analytics segment do not include the discontinued operations of our mortgage services business, which was part of our financial services vertical.

Our revenue by category for the periods presented is set forth below for the years ended December 31:

		2014		2013	Percentage Change
		(In thousands)
Insurance	$	598,757	$	539,150	11.1	%
Financial services		96,763		81,113	19.3	%
Healthcare		315,628		271,538	16.2	%
Specialized markets		84,926		85,626	(0.8	)%
Total Decision Analytics	$	1,096,074	$	977,427	12.1	%

Our insurance revenue increased $59.6 million or 11.1% primarily due to an increase within our loss quantification solutions and in catastrophe modeling services for existing customers. Underwriting and claims solutions as well contributed to the growth.

Our financial services revenue increased $15.7 million or 19.3%, primarily due to the continued demand for our analytic solutions and services within this category.

Our healthcare revenue increased $44.1 million or 16.2% primarily due to an increase in transactions within our revenue and quality intelligence solutions and due to an increase in payment accuracy solutions.

Our specialized markets revenue decreased $0.7 million or 0.8%, and excluding the Maplecroft acquisition revenue within this category, our specialized markets revenue decreased $1.3 million or 1.5% as a result of lower activity related to government contracts partially offset by growth in our supply chain services.

Cost of Revenues

Cost of revenues for our Decision Analytics segment was $508.4 million for the year ended December 31, 2014 compared to $428.0 million for the year ended December 31, 2013, an increase of $80.4 million or 18.8%. Excluding the impact of Maplecroft, our recent acquisition, of $0.5 million, our cost of revenues increased by $79.9 million or 18.7%. This increase is primarily due to a net increase in salary and employee benefits of $28.3 million, data costs and data processing fees of $45.5 million (primarily related to our healthcare services) and rent expense of $7.2 million. These increases were offset by decreases in information technology expenses of $1.1 million.

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Selling, General and Administrative Expenses

Selling, general and administrative expenses for our Decision Analytics segment were $153.5 million for the year ended December 31, 2014 compared to $151.6 million for the year ended December 31, 2013, an increase of $1.9 million or 1.3%. Excluding the impact of Maplecroft, our recent acquisition, of $0.1 million, SGA increased $1.8 million or 1.2%. The increase was primarily due to an increase in professional consulting fees of $4.5 million, which includes expenses of $6.9 million related to the EVT transaction offset by lower other consulting expenses. Other increases include information technology expenses of $3.5 million. These increases are offset by decrease in salaries and employee benefits of $4.3 million, travel cost of $0.5 million and other general and administrative expenses of $1.4 million.

EBITDA Margin

The EBITDA margin for our Decision Analytics segment including our discontinued operations, was 44.2% for the year ended December 31, 2014 and 38.0% for the year ended December 31, 2013. The discontinued operations, including the gain on sale of the mortgage services business increased our margin by 4.6% for the year ended December 31, 2014.

Risk Assessment

Revenues

Revenues for our Risk Assessment segment were $650.6 million for the year ended December 31, 2014 as compared to $618.3 million for the year ended December 31, 2013, an increase of $32.3 million or 5.2%. The overall increase within this segment primarily resulted from an increase in prices derived from continued enhancements to the content of our industry-standard insurance programs’ solutions as well as selling expanded solutions to existing customers.

Our revenue by category for the periods presented is set forth below for the years ended December 31:

		2014		2013	Percentage Change
		(In thousands)
Industry-standard insurance programs	$	495,065	$	471,130	5.1	%
Property-specific rating and underwriting information		155,587		147,146	5.7	%
Total Risk Assessment	$	650,652	$	618,276	5.2	%

Cost of Revenues

Cost of revenues for our Risk Assessment segment was $208.2 million for the year ended December 31, 2014 compared to $194.5 million for the year ended December 31, 2013, an increase of $13.7 million or 7.0%. The increase was primarily due to an increase in salaries and employee benefits costs of $9.8 million, which includes severance costs of $4.8 million that occurred in the fourth quarter in 2014. Other increases were related to information technology expenses of $2.6 million, rent expense of $1.0 million, and data and consulting costs of $0.8 million. These increases were offset by a decrease in other general expenses of $0.5 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for our Risk Assessment segment were $73.8 million for the year ended December 31, 2014 compared to $77.4 million for the year ended December 31, 2013, a decrease of $3.6 million or 4.6%. The decrease was primarily due to a decrease in salaries and employee benefits of $3.0 million, a decrease in travel cost of $0.4 million and other general expenses of $1.1 million. These decreases were offset by an increase in information technology of $0.8 million and professional consulting fees of $0.1 million.

EBITDA Margin

The EBITDA margin for our Risk Assessment segment was 56.7% for the year ended December 31, 2014 compared to 56.1% for the year ended December 31, 2013. The increase in margin is primarily attributed to operating leverage in the segment as well as cost efficiencies.

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Year Ended December 31, 2013 Compared to Year Ended December 31, 2012

Consolidated Results of Continuing Operations

Revenues

Revenues were $1,595.7 million for the year ended December 31, 2013 compared to $1,407.8 million for the year ended December 31, 2012, an increase of $187.9 million or 13.3%. In 2012, we acquired MediConnect, ALP, and Argus, collectively referred to as recent acquisitions, which we define as acquisitions not owned for a significant portion of both the current period and/or prior period and would therefore impact the comparability of the financial results. MediConnect was included as a recent acquisition only for the first quarter of 2013; ALP was included as a recent acquisition in the first and second quarters of 2013; Argus was included as a recent acquisition in the first, second and third quarters of 2013 as full quarter comparable revenues did not exist until certain quarters of 2012 due to the timing of the acquisitions.

These recent acquisitions were within our Decision Analytics segment and provided an increase of $68.1 million in revenues for the year ended December 31, 2013. Excluding recent acquisitions, revenues increased $119.8 million or 8.5%, which included an increase in our Decision Analytics segment of $81.0 million or 9.8% and an increase in our Risk Assessment segment of $38.8 million or 6.7%. Revenue growth within Decision Analytics was primarily driven by increases in our healthcare revenue category and contributions from our insurance revenue category. Both categories, industry-standard insurance programs and property-specific rating and underwriting information, within Risk Assessment contributed to its revenue growth. Refer to the Results of Continuing Operations by Segment within this section for further information regarding our revenues.

Cost of Revenues

Cost of revenues was $622.5 million for the year ended December 31, 2013 compared to $516.7 million for the year ended December 31, 2012, an increase of $105.8 million or 20.5%. Recent acquisitions all within the Decision Analytics segment, accounted for an increase of $36.8 million in cost of revenues for the year ended December 31, 2013 which were primarily related to salaries and employee benefits. Excluding the impact of our recent acquisitions, our cost of revenues increased $69.0 million or 13.4%. The increase was primarily due to increases in salaries and employee benefits cost of $36.6 million. Other increases include data costs and data processing fees of $17.7 million, information technology expense of $7.4 million, travel and travel related costs of $3.2 million and other operating costs of $4.1 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses, or SGA, were $229.0 million for the year ended December 31, 2013 compared to $220.1 million for the year ended December 31, 2012, an increase of $8.9 million or 4.1%. Recent acquisitions accounted for an increase of $3.8 million, which was primarily related to professional fees. Excluding costs associated with our recent acquisitions, SGA increased $5.1 million or 2.3%. The increase was primarily due to an increase in professional fees of $3.0 million, travel and travel related items of $0.8 million, salaries and employee benefits of $0.7 million, and other general and administrative expenses of $0.6 million.

The increase in salaries and benefits of $0.7 million includes an increase of $5.1 million in annual salaries increases, medical costs and commissions, offset by a decrease in our stock option expense of $4.1 million. Our stock option expense decreased as a result of lower accelerated vesting of equity awards granted to employees at age 62. Other decreases include a decrease in pension expense of $0.3 million, primarily due to our pension plan freeze.

Depreciation and Amortization of Fixed Assets

Depreciation and amortization of fixed assets was $66.2 million for the year ended December 31, 2013 compared to $46.6 million for the year ended December 31, 2012, an increase of $19.6 million or 41.9%. Depreciation and amortization of fixed assets includes depreciation of furniture and equipment, software, computer hardware, and related equipment. The majority of the increase relates to software and hardware costs to support data capacity expansion and revenue growth.

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Amortization of Intangible Assets

Amortization of intangible assets was $63.7 million for the year ended December 31, 2013 compared to $52.2 million for the year ended December 31, 2012, an increase of $11.5 million or 22.1%. The increase was primarily related to amortization of intangible assets associated with recent acquisitions of $16.0 million, partially offset by $4.5 million of amortization of intangible assets associated with prior acquisitions that have been fully amortized.

Investment Income and Others

Investment income and realized gain on securities, net, was a gain of $0.6 million for the year ended December 31, 2013 as compared to a gain of $0.1 million for the year ended December 31, 2012, an increase of $0.5 million.

Interest Expense

Interest expense was $76.1 million for the year ended December 31, 2013 compared to $72.5 million for the year ended December 31, 2012, an increase of $3.6 million or 5.0%. This increase is primarily due to the issuance of our senior notes in September 2012 with an aggregate principal balance of $350.0 million, partially offset by the repayment of $180.0 million of private placement debt during the year.

Provision for Income Taxes

The provision for income taxes was $196.4 million for the year ended December 31, 2013 compared to $182.4 million for the year ended December 31, 2012, an increase of $14.0 million or 7.7%. The effective tax rate was 36.5% for the year ended December 31, 2013 compared to 36.5% for the year ended December 31, 2012.

EBITDA Margin

The EBITDA margin for our consolidated results including discontinued operations, was 44.6% for the year ended December 31, 2013 compared to 45.4% for the year ended December 31, 2012. For the year ended December 31, 2013, the recent acquisitions mitigated our margin expansion by 0.2%.

Results of Continuing Operations by Segment

Decision Analytics

Revenues

Revenues for our Decision Analytics segment were $977.4 million for the year ended December 31, 2013 compared to $828.3 million for the year ended December 31, 2012, an increase of $149.1 million or 18.0%. Recent acquisitions accounted for an increase of $68.1 million in revenues for the year ended December 31, 2013. Excluding recent acquisitions, our Decision Analytics revenue increased $81.0 million or 9.8%. As described, our results in the Decision Analytics segment give effect to discontinued operations of our mortgage services business, which was part of our financial services vertical.

Our revenue by category for the periods presented is set forth below for the years ended December 31:

		2013		2012	Percentage Change
		(In thousands)
Insurance	$	539,150	$	493,456	9.3	%
Financial services		81,113		26,567	205.3	%
Healthcare		271,538		222,955	21.8	%
Specialized markets		85,626		85,364	0.3	%
Total Decision Analytics	$	977,427	$	828,342	18.0	%

Our insurance revenue increased $45.7 million or 9.3%, and excluding recent acquisitions (ALP) revenue of $1.2 million for the first and second quarters within this category, our insurance revenue increased $44.5 million or 9.0%, primarily due to an increase within our underwriting solutions, an increase in catastrophe modeling services for existing customers, as well an increase in insurance fraud solutions revenue, and an increase in loss quantification solutions.

Our financial services revenue increased $54.5 million or 205.3%, and excluding recent acquisitions (Argus) revenue of $50.1 million for the first, second and third quarters within this category, our financial services revenue increased $4.4 million

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or 20.2%. This financial services revenue reflects Argus' increased solutions which became part of organic revenue in the fourth quarter.

Our healthcare revenue increased $48.6 million or 21.8%, and excluding the recent acquisitions (MediConnect) revenue for the first quarter of $16.8 million within this category, our healthcare revenue increased $31.8 million or 14.3% primarily due to an increase in transactions within our revenue and quality intelligence solutions and due to an increase in payment accuracy solutions as customer contracts were implemented.

Our specialized markets revenue increased $0.3 million or 0.3% as a result of modest increase in our supply chain services, offset by a decrease in weather and climate risk solutions.

Cost of Revenues

Cost of revenues for our Decision Analytics segment was $428.0 million for the year ended December 31, 2013 compared to $334.3 million for the year ended December 31, 2012, an increase of $93.7 million or 28.0%. Excluding the impact of recent acquisitions of $36.8 million, our cost of revenues increased by $56.9 million or 17.1%. This increase is primarily due to a net increase in salary and employee benefits of $30.6 million. Other increases include data costs and data processing fees of $16.7 million, information technology expenses of $4.7 million, travel and travel related costs of $1.3 million, and other general expenses of $3.6 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for our Decision Analytics segment were $151.6 million for the year ended December 31, 2013 compared to $139.2 million for the year ended December 31, 2012, an increase of $12.4 million or 8.9%. Excluding the impact of recent acquisitions of $3.8 million, SGA increased $8.6 million or 6.2%. The increase was primarily due to an increase in salaries and employee benefits of $6.9 million, professional fees of $0.5 million, costs related to travel expenses of $0.4 million, and other general and administrative expenses of $0.8 million.

EBITDA Margin

The EBITDA margin for our Decision Analytics segment including our discontinued operations, was 38.0% for the year ended December 31, 2013 and 39.8% for the year ended December 31, 2012. For the year ended December 31, 2013, the recent acquisitions mitigated our margin expansion by 0.2%.

Risk Assessment

Revenues

Revenues for our Risk Assessment segment were $618.3 million for the year ended December 31, 2013 as compared to $579.5 million for the year ended December 31, 2012, an increase of $38.8 million or 6.7%. The overall increase within this segment primarily resulted from an increase in prices derived from continued enhancements to the content of our industry-standard insurance programs’ solutions as well as selling expanded solutions to existing customers.

Our revenue by category for the periods presented is set forth below for the years ended December 31:

		2013		2012	Percentage Change
		(In thousands)
Industry-standard insurance programs	$	471,130	$	450,646	4.5	%
Property-specific rating and underwriting information		147,146		128,860	14.2	%
Total Risk Assessment	$	618,276	$	579,506	6.7	%

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Cost of Revenues

Cost of revenues for our Risk Assessment segment was $194.5 million for the year ended December 31, 2013 compared to $182.4 million for the year ended December 31, 2012, an increase of $12.1 million or 6.7%. The increase was primarily due to an increase in salaries and employee benefits costs of $6.0 million. Other increases were related to information technology expenses of $2.7 million, data and consulting costs of $1.0 million, travel expenses of $1.9 million, and other general expenses of $0.5 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for our Risk Assessment segment were $77.4 million for the year ended December 31, 2013 compared to $80.9 million for the year ended December 31, 2012, a decrease of $3.5 million or 4.4%. The decrease was primarily due to a decrease in salaries and employee benefits of $6.2 million, primarily related to our stock option expense. Our stock option expense decreased as a result of lower accelerated vesting of equity awards granted to employees at age 62. There was also a decrease in other general expenses of $0.2 million. These decreases were offset by an increase in professional consulting fees of $2.5 million and travel costs of $0.4 million.

EBITDA Margin

The EBITDA margin for our Risk Assessment segment was 56.1% for the year ended December 31, 2013 compared to 54.6% for the year ended December 31, 2012. The increase in margin is primarily attributed to operating leverage in the segment as well as cost efficiencies.

Quarterly Results of Operations

The following table sets forth our quarterly unaudited consolidated statement of operations data for each of the eight quarters in the period ended December 31, 2014. In management’s opinion, the quarterly data has been prepared on the same basis as the audited consolidated financial statements included in this annual report on Form 10-K, and reflects all necessary adjustments for a fair presentation of this data. The results of historical periods are not necessarily indicative of the results of operations for a full year or any future period.

		For the Quarters Ended
		March 31,		June 30,		September 30,		December 31,			Full Year
		2014									2014
		(in thousands, except for per share data)
Statement of operations data:
Revenues	$	409,643	$	423,554	$	448,665	$	464,864		$	1,746,726
Operating income	$	148,843	$	159,066	$	175,490	$	177,047		$	660,446
Income from continuing operations	$	84,441	$	88,099	$	99,015	$	99,310		$	370,865
Income from discontinued operations	$	31,117	$	—	$	—	$	(1,940	)	$	29,177
Net income	$	115,558	$	88,099	$	99,015	$	97,370		$	400,042
Basic net income per share:	$	0.69	$	0.53	$	0.60	$	0.59		$	2.41
Diluted net income per share:	$	0.68	$	0.52	$	0.58	$	0.58		$	2.37
		For the Quarters Ended
		March 31,		June 30,		September 30,		December 31,			Full Year
		2013									2013
		(in thousands, except for per share data)
Statement of operations data:
Revenues	$	376,697	$	390,356	$	411,927	$	416,723		$	1,595,703
Operating income	$	145,528	$	146,857	$	166,835	$	155,047		$	614,267
Income from continuing operations	$	79,445	$	81,600	$	94,894	$	86,375		$	342,314
Income from discontinued operations	$	1,066	$	2,605	$	1,547	$	848		$	6,066
Net income	$	80,511	$	84,205	$	96,441	$	87,223		$	348,380
Basic net income per share:	$	0.48	$	0.50	$	0.57	$	0.52		$	2.07
Diluted net income per share:	$	0.47	$	0.49	$	0.56	$	0.51		$	2.02

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Liquidity and Capital Resources

As of December 31, 2014 and 2013, we had cash and cash equivalents and available-for-sale securities of $43.2 million and $169.7 million, respectively. Subscriptions for our solutions are billed and generally paid in advance of rendering services either quarterly or in full upon commencement of the subscription period, which is usually for one year. Subscriptions are automatically renewed at the beginning of each calendar year. We have historically generated significant cash flows from operations. As a result of this factor, as well as the availability of funds under our syndicated revolving credit facility, we believe we will have sufficient cash to meet our working capital and capital expenditure needs, and to fuel our future growth plans.

We have historically managed the business with a working capital deficit due to the fact that, as described above, we offer our solutions and services primarily through annual subscriptions or long-term contracts, which are generally prepaid quarterly or annually in advance of the services being rendered. When cash is received for prepayment of invoices, we record an asset (cash and cash equivalents) on our balance sheet with the offset recorded as a current liability (fees received in advance). This current liability is deferred revenue that does not require a direct cash outflow since our customers have prepaid and are obligated to purchase the services. In most businesses, growth in revenue typically leads to an increase in the accounts receivable balance causing a use of cash as a company grows. Unlike these businesses, our cash position is favorably affected by revenue growth, which results in a source of cash due to our customers prepaying for most of our services.

Our capital expenditures as a percentage of revenues for the years ended December 31, 2014 and 2013, were 8.4% and 9.1%, respectively. We estimate our capital expenditures for 2015 will be approximately $150.0 million, which primarily include expenditures on our technology infrastructure and our continuing investments in developing and enhancing our solutions. Expenditures related to developing and enhancing our solutions are predominately related to internal use software and are capitalized in accordance with ASC 350-40, “Accounting for Costs of Computer Software Developed or Obtained for Internal Use.” We also capitalize amounts in accordance with ASC 985-20, “Software to be Sold, Leased or Otherwise Marketed.”

We have also historically used a portion of our cash for repurchases of our common stock from our stockholders. For the years ended December 31, 2014, 2013 and 2012, we repurchased $675.4 million (exclusive of $100.0 million of unsettled purchase price associated with the ASR Program; see Note 15 of our consolidated financial statements in this annual report on Form 10-K), $278.9 million and $162.6 million, respectively, of our common stock.

In prior years, we provided pension and postretirement benefits to certain qualifying active employees and retirees. On February 29, 2012, we instituted a hard freeze, which eliminated all future compensation and service credits, to all participants in the pension plans. In April 2012, we completed a voluntary prefunding to our qualified pension plan of $72.0 million, which resulted in a contribution of $78.8 million for the year, of which $28.2 million was the minimum contribution requirement for 2012. As a result of the prefunding, we do not expect to make any contribution in 2015 with respect to our qualified pension plan. Under the postretirement plan, we provided certain healthcare and life insurance benefits to qualifying participants; however, participants are required to pay a stated percentage of the premium coverage. We expect to contribute approximately $1.1 million to the postretirement plan in 2015. See Note 17 to our consolidated financial statements included in this annual report on Form 10-K.

Financing and Financing Capacity

We had total debt, excluding capital lease obligations, of $1,425.8 million and $1,265.1 million at December 31, 2014 and 2013, respectively. The debt at December 31, 2014 was primarily issued under senior notes and long-term private placement loan facilities to finance our stock repurchases and acquisitions.

On April 6, 2011, we completed an issuance of senior notes in the aggregate principal amount of $450.0 million. These senior notes are due on May 1, 2021 and accrue interest at a rate of 5.800% per annum. Interest is payable semi-annually on May 1st and November 1st of each year.

On December 8, 2011, we completed a second issuance of senior notes in the aggregate principal of $250.0 million. These senior notes are due on January 15, 2019 and accrue interest at a rate of 4.875% per annum. Interest is payable semi-annually on January 15th and July 15th of each year.

On September 12, 2012, we completed a third issuance of senior notes in the aggregate principal amount of $350.0 million. These senior notes are due on September 12, 2022 and accrue interest at a rate of 4.125% per annum. Interest is payable semi-annually on March 12th and September 12th of each year.

The senior notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured and unsubordinated basis by ISO and certain subsidiaries that guarantee our syndicated revolving credit facility (credit facility), or any amendment, refinancing or replacement thereof. We expect to redraw from our credit facility over time as needed for our corporate strategy,

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including for general corporate purposes, share repurchases, and acquisitions. The indenture governing the senior notes restricts our ability and our subsidiaries’ ability to, among other things, create certain liens, enter into sale/leaseback transactions and consolidate with, sell, lease, convey or otherwise transfer all or substantially all of our assets, or merge with or into, any other person or entity.

On October 21, 2014, we amended our committed senior unsecured credit facility with a syndicate of banks to increase the borrowing capacity under the credit facility from $975.0 million to $990.0 million and extend the maturity date from October 2018 to October 2019. We amortize all one-time fees and third party costs associated with the execution and amendment of this credit facility through the maturity date. Interest is payable at a maturity rate of LIBOR plus 1.125% to 1.625%, depending on the result of certain ratios defined in the credit agreement. Verisk and ISO are co-borrowers under the credit facility. Borrowings may be used for general corporate purposes, including working capital and capital expenditures, acquisitions and share repurchase programs. During the year ended December 31, 2014 , we borrowed $225.0 million under the credit facility and repaid $65.0 million. As of December 31, 2014 and 2013, we had $160.0 million and $0 outstanding borrowings under the credit facility, respectively. In January and February 2015, we repaid a total of $140.0 million of the $160.0 million outstanding borrowings under the credit facility.

As of December 31, 2014, we have an available borrowing capacity, net of outstanding letters of credit, of $827.8 million under the credit facility.

The credit facility contains certain customary financial and other covenants that, among other things, impose certain restrictions on indebtedness, liens, investments, and capital expenditures. These covenants also place restrictions on mergers, asset sales, sale/leaseback transactions, payments between us and our subsidiaries, and certain transactions with affiliates. The financial covenants require that, at the end of any fiscal quarter, we have a consolidated interest coverage ratio of at least 3.0 to 1.0 and that during any period of four fiscal quarters, we maintain a consolidated funded debt leverage ratio below 3.5 to 1.0. We were in compliance with all debt covenants under the credit facility as of December 31, 2014.

We also had long-term private placement loan facilities under uncommitted master shelf agreements with New York Life and Prudential Capital Group that expired during 2013. We did not extend these agreements. As of December 31, 2014 and 2013, we had $220.0 million outstanding under these facilities for both periods. The weighted average rate of interest with respect to our outstanding borrowings under these facilities was 6.36% for each of the years ended December 31, 2014 and 2013 and amounts outstanding was $1.9 million at the end of each period. These notes contain certain covenants that limit our ability to create liens, enter into sale/leaseback transactions and consolidate, merge or sell assets to another company. These notes also contain financial covenants that require that, at the end of any fiscal quarter, we have a consolidated interest coverage ratio of at least 3.0 to 1.0 and that we maintain a consolidated funded debt leverage ratio below 3.0 to 1.0 at the end of any fiscal quarter. We were in compliance with all debt covenants under our master shelf agreements as of December 31, 2014.

Cash Flow

The following table summarizes our cash flow data for the years ended December 31:

	2014			2013			2012
		(In thousands)
Net cash provided by operating activities	$	489,452		$	506,920		$	468,229
Net cash used in investing activities	$	(35,530	)	$	(145,626	)	$	(883,583	)
Net cash (used in) provided by financing activities	$	(579,078	)	$	(284,472	)	$	313,555

Operating Activities

Net cash provided by operating activities decreased to $489.5 million for the year ended December 31, 2014 compared to $506.9 million for the year ended December 31, 2013. Net cash provided by operating activities was primarily affected by the sale of our mortgage services business and the timing of excess tax benefits from exercised stock options in the first quarter of 2013.

Net cash provided by operating activities increased to $506.9 million for the year ended December 31, 2013 compared to $468.2 million for the year ended December 31, 2012. The increase in cash provided by operating activities was primarily due to an increase in cash receipts from customers, partially offset by an increase in interest payments related to our bond offerings. In the second quarter of 2012, we pre-funded $72.0 million to our pension plan. This prefunding was partially offset by the tax benefit associated with those deductible contributions and the deferral of our fourth quarter 2012 tax payment to 2013 as a result

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of a temporary federal tax relief program related to Hurricane Sandy. This tax payment would have typically been paid in the fourth quarter of 2012, but due to this relief, the payment was made in the first quarter of 2013.

Investing Activities

Net cash used in investing activities was $35.5 million and $145.6 million for the years ended December 31, 2014 and 2013, respectively. The decrease in net cash used in investing activities was primarily due to the sale of our mortgage services business for $155.0 million on March 11, 2014, partially offset by the acquisition of Maplecroft of $30.1 million.

Net cash used in investing activities was $145.6 million and $883.6 million for the years ended December 31, 2013 and 2012, respectively. The decrease in net cash used in investing activities was primarily due to the fact that we had acquisitions in 2012 with a combined net cash purchase price of $808.3 million versus minor acquisition activity in 2013.

Financing Activities

Net cash used in financing activities was $579.1 million and $284.5 million for the years ended December 31, 2014 and 2013, respectively. The increase of net cash used in financing activities for the year ended December 31, 2014 was primarily due to the repurchase of common stock of $778.5 million related to the ASR, partially offset by net debt draw downs of $160.0 million.

Net cash used in financing activities was $284.5 million for the year ended December 31, 2013 and net cash provided by financing was $313.6 million for the year ended December 31, 2012. Net cash used in financing activities for the year ended December 31, 2013 was primarily due to the repurchase of common stock of $277.4 million and debt repayments of $190.0 million, partially offset by proceeds from stock option exercises and the related excess tax benefit of $190.3 million.

Contractual Obligations

The following table summarizes our contractual obligations and commercial commitments at December 31, 2014 and the future periods in which such obligations are expected to be settled in cash:

		Payments Due by Period
		Total		Less than 1 year		2-3 years		4-5 years		More than 5 years
		(In thousands)
Contractual obligations
Long-term debt, current portion of long-term debt and interest	$	1,605,265	$	230,706	$	157,008	$	343,770	$	873,781
Operating leases		434,696		37,958		75,856		60,849		260,033
Pension and postretirement plans (1)		45,200		3,207		6,115		5,735		30,143
Capital lease obligations		11,487		6,295		4,867		240		85
Other long-term liabilities (2)		21,325		1,264		18,721		484		856
Total (3)	$	2,117,973	$	279,430	$	262,567	$	411,078	$	1,164,898

(1) Our funding policy is to contribute at least equal to the minimum legal funding requirement.

(2) Other long-term liabilities consist of our ESOP contributions and employee-related deferred compensation plan. We also have a deferred compensation plan for our Board of Directors; however, based on past performance and the uncertainty of the dollar amounts to be paid, if any, we have excluded such amounts from the above table.

(3) Unrecognized tax benefits of approximately $10.6 million have been recorded as liabilities in accordance with ASC 740, which have been omitted from the table above, and we are uncertain as to if or when such amounts may be settled, with the exception of those amounts subject to a statute of limitation. Related to the unrecognized tax benefits, we also have recorded a liability for potential penalties and interest of $2.8 million.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

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Critical Accounting Policies and Estimates

Our management’s discussion and analysis of financial condition and results of operations are based on our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements require management to make estimates and judgments that affect reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the dates of the financial statements and revenue and expenses during the reporting periods. These estimates are based on historical experience and on other assumptions that are believed to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, goodwill and intangible assets, pension and other post retirement benefits, stock based compensation, and income taxes. Actual results may differ from these assumptions or conditions.

Revenue Recognition

The Company’s revenues are primarily derived from sales of services and revenue is recognized as services are performed and information is delivered to our customers. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, fees and/or price are fixed or determinable and collectability is reasonably assured. Revenues for subscription services are recognized ratably over the subscription term, usually one year. Revenues from transaction-based fees are recognized as information is delivered to customers, assuming all other revenue recognition criteria are met.

The Company also has term based software licenses where the only remaining undelivered element is post-contract customer support or PCS, including unspecified upgrade rights on a when and if available basis. The Company recognizes revenue for these licenses ratably over the duration of the license term. The PCS associated with these arrangements is coterminous with the duration of the license term. The Company also provides hosting or software solutions that provide continuous access to information and include PCS and recognizes revenue ratably over the duration of the license term. In addition, the determination of certain of our services revenues requires the use of estimates, principally related to transaction volumes in instances where these volumes are reported to us by our clients on a monthly basis in arrears. In these instances, we estimate transaction volumes based on average actual volumes reported by our customers in the past. Differences between our estimates and actual final volumes reported are recorded in the period in which actual volumes are reported. We have not experienced significant variances between our estimates of these services revenues reported to us by our customers and actual reported volumes in the past.

We invoice our customers in annual, quarterly, or monthly installments. Amounts billed and collected in advance are recorded as fees received in advance on the balance sheet and are recognized as the services are performed and revenue recognition criteria are met.

Stock Based Compensation

The fair value of equity awards is measured on the date of grant using a Black-Scholes option-pricing model, which requires the use of several estimates, including expected term, expected risk-free interest rate, expected volatility and expected dividend yield.

Stock based compensation cost is measured at the grant date, based on the fair value of the awards granted, and is recognized as expense over the requisite service period. Option grants and restricted stock awards are generally expensed ratably over the four-year vesting period. We follow the substantive vesting period approach for awards granted after January 1, 2005, which requires that stock based compensation expense be recognized over the period from the date of grant to the date when the award is no longer contingent on the employee providing additional service.

We estimate expected forfeitures of equity awards at the date of grant and recognize compensation expense only for those awards expected to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate.

Goodwill and Intangibles

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have definite lives are amortized over their useful lives. Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable, using the guidance and criteria described in the accounting standard for Goodwill and Other Intangible Assets. This testing compares carrying values to fair values and, when appropriate, the carrying value of these assets is reduced to fair value.

As of December 31, 2014, we had goodwill and net intangible assets of $1,613.6 million, which represents 68.8% of our total assets. During 2014, we performed an impairment test as of June 30, 2014 and confirmed that no impairment charge was necessary. There are many assumptions and estimates used that directly impact the results of impairment testing, including an

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estimate of future expected revenues, earnings and cash flows, useful lives and discount rates applied to such expected cash flows in order to estimate fair value. We have the ability to influence the outcome and ultimate results based on the assumptions and estimates we choose for determining the fair value of our reporting units. To mitigate undue influence, we set criteria and benchmarks that are reviewed and approved by various levels of management and reviewed by other independent parties. The determination of whether or not goodwill or indefinite-lived acquired intangible assets have become impaired involves a significant level of judgment in the assumptions and estimates underlying the approach used to determine the value of our reporting units. Changes in our strategy or market conditions could significantly impact these judgments and require an impairment to be recorded to intangible assets and goodwill. Our valuation has not indicated any impairment of our goodwill asset of $1,207.1 million as of December 31, 2014. For the year ended December 31, 2014, there were no impairment indicators related to our intangible assets.

Pension and Postretirement

On February 29, 2012, we instituted a hard freeze, which eliminates all future compensation and service credits, to all participants in the pension plans. See Note 17 to our consolidated financial statements included in this annual report on Form 10-K. We account for our pension and postretirement benefit plans in accordance with the accounting standard for Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans. This standard requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement benefit plans on their consolidated balance sheets and recognize as a component of other comprehensive income (loss), net of tax, the gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefit (credit) cost. Additional minimum pension liabilities and related intangible assets are also derecognized upon adoption of the new standard.

Certain assumptions are used in the determination of our annual net period benefit (credit) cost and the disclosure of the funded status of these plans. The principal assumptions concern the discount rate used to measure the projected benefit obligation and the expected return on plan assets. We revise these assumptions based on an annual evaluation of long-term trends and market conditions that may have an impact on the cost of providing retirement benefits.

In determining the discount rate, we utilize quoted rates from long-term bond indices, and changes in long-term bond rates over the past year, cash flow models and other data sources we consider reasonable based upon the life expectancy and mortality rate of eligible employees. As part of our evaluation, we calculate the approximate average yields on securities that were selected to match our separate projected cash flows for both the pension and postretirement plans. Our separate benefit plan cash flows are input into actuarial models that include data for corporate bonds rated AA or better at the measurement date. The output from the actuarial models are assessed against the prior year’s discount rate and quoted rates for long-term bond indices. For our pension plans at December 31, 2014, we determined this rate to be 3.99%, a decrease of 0.75% from the 4.74% rate used at December 31, 2013. Our postretirement rate is 3.00% at December 31, 2014, a decrease of 0.45% from the 3.45% used at December 31, 2013.

The expected return on plan assets is determined by taking into consideration our analysis of our actual historical investment returns to a broader long-term forecast adjusted based on our target investment allocation, and the current economic environment. Our pension asset investment guidelines target an investment portfolio allocation of 40.00% debt securities and 60.00% equity securities. As of December 31, 2014, the pension plan assets were allocated 41.30% debt, 56.80% equity securities and 1.90% other. The VEBA Plan target allocation is 100% debt. We have used our target investment allocation to derive the expected return as we believe this allocation will be retained on an ongoing basis that will be commensurate with the projected cash flows of the plan. The expected return for each investment category within our target investment allocation is developed using average historical rates of return for each targeted investment category, considering the projected cash flow of the qualified pension plan and postretirement plan. The difference between this expected return and the actual return on plan assets is generally deferred and recognized over subsequent periods through future net periodic benefit (credits) costs. We believe these considerations provide the basis for reasonable assumptions with respect to the expected long-term rate of return on plan assets.

The measurement date used to determine the benefit obligation and plan assets is December 31. The future benefit payments for the postretirement plan are net of the federal medical subsidy. As a result of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, the tax treatment of federal subsidies paid to sponsors of retiree health benefit plans that provide prescription drug benefits that are at least actuarially equivalent to the corresponding benefits provided under Medicare Part D was effectively changed. This legislative change reduces future tax benefits of the coverage we provided to participants in the postretirement plan. We are required to account for this change in the period during which the law is enacted.

A one percent change in discount rate and future rate of return on plan assets would have the following effects:

44

	Pension											Postretirement
	1% Decrease					1% Increase						1% Decrease					1% Increase
		Benefit (Credit) Cost			Projected Benefit Obligation		Benefit (Credit) Cost			Projected Benefit Obligation			Benefit (Credit) Cost			Projected Benefit Obligation		Benefit (Credit) Cost			Projected Benefit Obligation
	(In thousands)
Discount Rate	$	(422	)	$	56,621	$	1,393		$	(46,814	)	$	(52	)	$	1,049	$	46		$	(942	)
Expected Rate of Return on Assets	$	4,526		$	—	$	(4,526	)	$	—		$	157		$	—	$	(157	)	$	—

Income Taxes

In projecting future taxable income, we develop assumptions including the amount of future state, federal and foreign pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates we use to manage the underlying businesses. The calculation of our tax liabilities also involves dealing with uncertainties in the application and evolution of complex tax laws and regulations in other jurisdictions.

We account for uncertain tax positions in accordance with Accounting for Uncertainty in Income Taxes — an interpretation of ASC 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this interpretation, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position.

We recognize and adjust our liabilities when our judgment changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which they are determined.

We estimate unrecognized tax positions of $1.1 million that may be recognized by December 31, 2015, due to expiration of statutes of limitations and resolution of audits with taxing authorities, net of additional uncertain tax positions.

As of December 31, 2014, we have gross federal, state, and foreign income tax net operating loss carryforwards of $47.3 million, which will expire at various dates from 2015 through 2034. Such net operating loss carryforwards expire as follows:

	(In thousands)
2015 - 2022	$	6,912
2023 - 2027		13,755
2028 - 2034		26,674
	$	47,341

The deferred income tax liability of $197.8 million consists primarily of timing differences involving depreciation and amortization.

Recent Accounting Pronouncements

For a discussion of recent accounting pronouncements, refer to Note 2(t) to the audited consolidated financial statements included elsewhere in this annual report on Form 10-K. 

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

Interest Rate Risk

We are exposed to market risk from fluctuations in interest rates. At December 31, 2014, we had borrowings outstanding under our credit facility of $160.0 million, which bear interest at variable rates based on LIBOR plus 1.125% to 1.625%, depending on certain ratios defined in the credit agreement. A change in interest rates on variable rate debt impacts our pre-tax income and cash flows, but does not impact the fair value of the instruments. Based on our overall interest rate exposure at December 31, 2014, a one percent change in interest rate would result in a change in annual pre-tax interest expense of approximately $1.6 million based on our current borrowing levels.

45

Item 8. Financial Statements and Supplementary Data

The information required by this Item is set forth on pages 49 through 107 of this annual report on Form 10-K.

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We are required to maintain disclosure controls and procedures (as that term is defined in Rules 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that are designed to ensure that information required to be disclosed in our reports under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives at the reasonable assurance level.

Our management, with the participation of the Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this annual report on Form 10-K. Based upon the foregoing assessments, our Chief Executive Officer and Chief Financial Officer have concluded that, as of December 31, 2014, our disclosure controls and procedures were effective at the reasonable assurance level.

Management’s Report on Internal Control Over Financial Reporting

Management’s Report on Internal Control Over Financial Reporting as of December 31, 2014 is set forth in Item 8. Financial Statement and Supplementary Data.

Attestation Report of the Registered Public Accounting Firm

The Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting as of December 31, 2014 is set forth in Item 8. Financial Statement and Supplementary Data.

Changes in Internal Control Over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation of such internal control that occurred during the fourth quarter of 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Item 9B. Other Information

None.

46

PART III

Item 10. Directors, Executive Officers and Corporate Governance

The information required to be furnished by this Item 10. is incorporated herein by reference to our Notice of Annual Meeting of Stockholders and Proxy Statement to be filed within 120 days of December 31, 2014 (the “Proxy Statement”).

Item 11. Executive Compensation

The information required to be furnished by this Item 11. is incorporated herein by reference from our Proxy Statement.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required to be furnished by this Item 12. is incorporated herein by reference to our Proxy Statement.

Item 13. Certain Relationships and Related Transactions and Director Independence

The information required to be furnished by this Item 13. is incorporated herein by reference to our Proxy Statement.

Item 14. Principal Accounting Fees and Services

The information required to be furnished by this Item 14. is incorporated herein by reference to our Proxy Statement.

47

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a) The following documents are filed as part of this report.

(1) Financial Statements. See Index to Financial Statements and Schedules in Part II, Item 8. on this Form 10-K.

(2) Financial Statement Schedules. See Schedule II. Valuation and Qualifying Accounts and Reserves.

(3) Exhibits. See Index to Exhibits in this annual report on Form 10-K.

48

Item 8.     Consolidated Financial Statements and Supplementary Data

Index to Consolidated Financial Statements and Schedules

Verisk Analytics, Inc. Consolidated Financial Statements as of December 31, 2014 and 2013 and for the Years Ended December 31, 2014, 2013 and 2012.
Management’s Report on Internal Controls Over Financial Reporting	50
Report of Independent Registered Public Accounting Firm	51
Report of Independent Registered Public Accounting Firm on Internal Controls Over Financial Reporting	52
Consolidated Balance Sheets	53
Consolidated Statements of Operations	54
Consolidated Statements of Comprehensive Income	55
Consolidated Statements of Changes in Stockholders’ Equity (Deficit)	56
Consolidated Statements of Cash Flows	57
Notes to Consolidated Financial Statements	59
Financial Statements Schedule
Schedule II, Valuation and Qualifying Accounts and Reserves	107

49

MANAGEMENT’S REPORT ON INTERNAL CONTROLS OVER FINANCIAL REPORTING

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the financial statements for external purposes in accordance with U.S. generally accepted accounting principles. Because of its inherent limitations, a system of internal control over financial reporting can provide only reasonable assurance and may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that internal controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework set forth in Internal Control — Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013.

Based on this assessment, management concluded that our internal control over financial reporting was effective at December 31, 2014.

Deloitte & Touche LLP, the independent registered public accounting firm that audited the consolidated financial statements included in this annual report on Form 10-K has also audited the effectiveness of our internal control over financial reporting as of December 31, 2014, as stated in their report which is included herein.

50

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Verisk Analytics, Inc.

Jersey City, New Jersey

We have audited the accompanying consolidated balance sheets of Verisk Analytics, Inc. and subsidiaries (the "Company") as of December 31, 2014 and 2013, and the related consolidated statements of operations, comprehensive income, changes in stockholders’ equity (deficit), and cash flows for each of the three years in the period ended December 31, 2014. Our audits also included the financial statement schedule listed in the Index at Item 15. These financial statements and financial statement schedule are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements and financial statement schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Verisk Analytics, Inc. and subsidiaries as of December 31, 2014 and 2013, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2014, in conformity with accounting principles generally accepted in the United States of America. Also, in our opinion, such financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, present fairly, in all material respects, the information set forth therein.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over financial reporting as of December 31, 2014, based on the criteria established in Internal Control ---- Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 24, 2015 expressed an unqualified opinion on the Company’s internal control over financial reporting.

/s/ Deloitte & Touche LLP

Parsippany, New Jersey

February 24, 2015

51

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Verisk Analytics, Inc.

Jersey City, New Jersey

We have audited the internal control over financial reporting of Verisk Analytics, Inc. and subsidiaries (the “Company”) as of December 31, 2014, based on criteria established in Internal Control ---- Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Controls over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed by, or under the supervision of, the company’s principal executive and principal financial officers, or persons performing similar functions, and effected by the company’s board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2014, based on the criteria established in Internal Control --- Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements and financial statement schedule as of and for the year ended December 31, 2014 of the Company and our report dated February 24, 2015 expressed an unqualified opinion on those financial statements and financial statements schedule.

/s/ Deloitte & Touche LLP

Parsippany, New Jersey

February 24, 2015

52

VERISK ANALYTICS, INC

CONSOLIDATED BALANCE SHEETS

As of December 31, 2014 and 2013

	2014			2013
	(In thousands, except for share and per share data)
ASSETS
Current assets:
Cash and cash equivalents	$	39,359		$	165,801
Available-for-sale securities		3,801			3,911
Accounts receivable, net		220,668			158,547
Prepaid expenses		31,496			25,657
Deferred income taxes, net		4,772			5,077
Income taxes receivable		65,512			67,346
Other current assets		18,875			34,681
Current assets held-for-sale		—			13,825
Total current assets		384,483			474,845
Noncurrent assets:
Fixed assets, net		302,273			233,373
Intangible assets, net		406,476			447,618
Goodwill		1,207,146			1,181,681
Pension assets		18,589			60,955
Other assets		26,363			20,034
Noncurrent assets held-for-sale		—			85,945
Total assets	$	2,345,330		$	2,504,451
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	180,726		$	188,264
Short-term debt and current portion of long-term debt		336,058			4,448
Pension and postretirement benefits, current		1,894			2,437
Fees received in advance		252,592			226,581
Current liabilities held-for-sale		—			9,449
Total current liabilities		771,270			431,179
Noncurrent liabilities:
Long-term debt		1,100,874			1,271,439
Pension benefits		13,805			13,007
Postretirement benefits		2,410			2,061
Deferred income taxes, net		202,540			198,604
Other liabilities		43,388			36,043
Noncurrent liabilities held-for-sale		—			4,529
Total liabilities		2,134,287			1,956,862
Commitments and contingencies
Stockholders’ equity:
Verisk Class A common stock, $.001 par value; 1,200,000,000 shares authorized; 544,003,038 shares issued and 157,913,227 and 167,457,927 shares outstanding, respectively		137			137
Unearned KSOP contributions		(161	)		(306	)
Additional paid-in capital		1,171,196			1,202,106
Treasury stock, at cost, 386,089,811 and 376,545,111 shares, respectively		(2,533,764	)		(1,864,967	)
Retained earnings		1,654,149			1,254,107
Accumulated other comprehensive losses		(80,514	)		(43,488	)
Total stockholders’ equity		211,043			547,589
Total liabilities and stockholders’ equity	$	2,345,330		$	2,504,451

The accompanying notes are an integral part of these consolidated financial statements.

53

VERISK ANALYTICS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

For The Years Ended December 31, 2014, 2013 and 2012

	2014			2013			2012
	(In thousands, except for share and per share data)
Revenues	$	1,746,726		$	1,595,703		$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		716,598			622,523			516,708
Selling, general and administrative		227,306			228,982			220,068
Depreciation and amortization of fixed assets		85,506			66,190			46,637
Amortization of intangible assets		56,870			63,741			52,207
Total expenses		1,086,280			981,436			835,620
Operating income		660,446			614,267			572,228
Other income (expense):
Investment income and others		158			609			106
Interest expense		(69,984	)		(76,136	)		(72,508	)
Total other expense, net		(69,826	)		(75,527	)		(72,402	)
Income before income taxes		590,620			538,740			499,826
Provision for income taxes		(219,755	)		(196,426	)		(182,363	)
Income from continuing operations		370,865			342,314			317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively (Note 10)		29,177			6,066			11,679
Net income	$	400,042		$	348,380		$	329,142
Basic net income per share:
Income from continuing operations	$	2.24		$	2.04		$	1.91
Income from discontinued operations		0.17			0.03			0.07
Basic net income per share	$	2.41		$	2.07		$	1.98
Diluted net income per share:
Income from continuing operations	$	2.20		$	1.99		$	1.85
Income from discontinued operations		0.17			0.03			0.07
Diluted net income per share	$	2.37		$	2.02		$	1.92
Weighted average shares outstanding:
Basic		165,823,803			168,031,412			165,890,258
Diluted		169,132,423			172,276,360			171,709,518

The accompanying notes are an integral part of these consolidated financial statements.

54

VERISK ANALYTICS, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

For The Years Ended December 31, 2014, 2013 and 2012

	2014			2013			2012
	(In thousands)
Net income	$	400,042		$	348,380		$	329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(1,286	)		(840	)		15
Unrealized holding loss on available-for-sale securities		(35	)		(147	)		(197	)
Pension and postretirement adjustment		(35,705	)		46,659			(10,691	)
Total other comprehensive (loss) income		(37,026	)		45,672			(10,873	)
Comprehensive income	$	363,016		$	394,052		$	318,269

The accompanying notes are an integral part of these consolidated financial statements.

55

VERISK ANALYTICS, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY(DEFICIT)

For The Years Ended December 31, 2014, 2013 and 2012

	Common Stock Issued			Unearned KSOP Contributions			Additional Paid-in Capital			Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Losses			Total Stockholders’ Equity (Deficit)
	Verisk Class A	Par Value
	(In thousands, except for share data)
Balance, January 1, 2012	544,003,038	$	137	$	(691	)	$	874,808		$	(1,471,042	)	$	576,585	$	(78,287	)	$	(98,490	)
Net income	—		—		—			—			—			329,142		—			329,142
Other comprehensive loss	—		—		—			—			—			—		(10,873	)		(10,873	)
Treasury stock acquired - Class A (3,491,591 shares)	—		—		—			—			(162,586	)		—		—			(162,586	)
KSOP shares earned	—		—		208			12,903			—			—		—			13,111
Stock options exercised, including tax benefit of $88,185 (6,880,678 shares reissued from treasury stock)	—		—		—			131,824			28,039			—		—			159,863
Restricted stock lapsed, including tax benefit of $202 (41,908 shares reissued from treasury stock)	—		—		—			34			167			—		—			201
Employee stock purchase plan (6,074 shares reissued from treasury stock)	—		—		—			268			26			—		—			294
Stock based compensation	—		—		—			24,696			—			—		—			24,696
Other stock issuances (4,777 shares issued from treasury stock)	—		—		—			213			20			—		—			233
Balance, December 31, 2012	544,003,038		137		(483	)		1,044,746			(1,605,376	)		905,727		(89,160	)		255,591
Net income	—		—		—			—			—			348,380		—			348,380
Other comprehensive income	—		—		—			—			—			—		45,672			45,672
Treasury stock acquired - Class A (4,532,552 shares)	—		—		—			—			(278,938	)		—		—			(278,938	)
KSOP shares earned	—		—		177			14,753			—			—		—			14,930
Stock options exercised, including tax benefit of $57,065 (4,076,750 shares reissued from treasury stock)	—		—		—			119,236			18,523			—		—			137,759
Restricted stock lapsed, including tax benefit of $991 (150,668 shares reissued from treasury stock)	—		—		—			333			658			—		—			991
Employee stock purchase plan (27,879 shares reissued from treasury stock)	—		—		—			1,533			129			—		—			1,662
Stock based compensation	—		—		—			21,087			—			—		—			21,087
Other stock issuances (8,109 shares reissued from treasury stock)	—		—		—			418			37			—		—			455
Balance, December 31, 2013	544,003,038		137		(306	)		1,202,106			(1,864,967	)		1,254,107		(43,488	)		547,589
Net income	—		—		—			—			—			400,042		—			400,042
Other comprehensive income	—		—		—			—			—			—		(37,026	)		(37,026	)
Treasury stock acquired - Class A (10,802,087 shares)	—		—		—			(100,000	)		(675,446	)		—		—			(775,446	)
KSOP shares earned	—		—		145			15,206			—			—		—			15,351
Stock options exercised, including tax benefit of $15,438 (1,091,746 shares reissued from treasury stock)	—		—		—			34,011			5,781			—		—			39,792
Restricted stock lapsed, including tax benefit of $550 (134,713 shares reissued from treasury stock)	—		—		—			(148	)		698			—		—			550
Employee stock purchase plan (26,953 shares reissued from treasury stock)	—		—		—			1,414			149			—		—			1,563
Stock based compensation	—		—		—			20,011			—			—		—			20,011
Net share settlement from restricted stock awards (27,159 shares withheld for tax settlement)	—		—		—			(1,625	)		—			—		—			(1,625	)
Other stock issuances (3,975 shares reissued from treasury stock)	—		—		—			221			21			—		—			242
Balance, December 31, 2014	544,003,038	$	137	$	(161	)	$	1,171,196		$	(2,533,764	)	$	1,654,149	$	(80,514	)	$	211,043

The accompanying notes are an integral part of these consolidated financial statements.

56

VERISK ANALYTICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

For The Years Ended December 31, 2014, 2013 and 2012

	2014			2013			2012
	(In thousands)
Cash flows from operating activities:
Net income	$	400,042		$	348,380		$	329,142
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets		86,501			70,279			50,624
Amortization of intangible assets		56,982			64,299			53,575
Amortization of debt issuance costs and original issue discount		2,638			2,713			2,337
Allowance for doubtful accounts		1,814			2,482			1,065
KSOP compensation expense		15,351			14,930			13,111
Stock based compensation		20,253			21,087			24,696
Gain on sale of subsidiary		(65,410	)		—			—
Realized (gain) loss on securities, net		(257	)		92			332
Deferred income taxes		24,491			44,140			63,261
Loss on disposal of fixed assets		1,048			628			597
Excess tax benefits from exercised stock options		(22,566	)		(109,946	)		(60,672	)
Other operating activities, net		—			448			265
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable		(54,515	)		2,106			(6,425	)
Prepaid expenses and other assets		(9,625	)		(2,386	)		550
Income taxes		13,760			39,661			83,711
Accounts payable and accrued liabilities		12,675			34,022			11,256
Fees received in advance		22,114			26,970			20,493
Pension and postretirement benefits		(14,802	)		(11,392	)		(105,829	)
Other liabilities		(1,042	)		(41,593	)		(13,860	)
Net cash provided by operating activities		489,452			506,920			468,229
Cash flows from investing activities:
Acquisitions, net of cash acquired of $304, $0 and $36,113, respectively		(35,192	)		(983	)		(769,513	)
Purchase of non-controlling interest in non-public companies		(5,000	)		—			(2,250	)
Proceeds from sale of subsidiary		151,170			—			—
Earnout payments		—			—			(250	)
Escrow funding associated with acquisitions		—			—			(38,800	)
Proceeds from release of acquisition related escrows		—			280			1,455
Capital expenditures		(146,818	)		(145,976	)		(74,373	)
Purchases of available-for-sale securities		(203	)		(5,870	)		(1,784	)
Proceeds from sales and maturities of available-for-sale securities		513			7,484			1,932
Other investing activities, net		—			(561	)		—
Net cash used in investing activities		(35,530	)		(145,626	)		(883,583	)

The accompanying notes are an integral part of these consolidated financial statements.

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VERISK ANALYTICS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

For The Years Ended December 31, 2014, 2013 and 2012

	2014			2013			2012
	(In thousands)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of original issue discount		—			—			347,224
Repayments of current portion of long-term debt		—			(180,000	)		—
Repayments of short-term debt refinanced on a long-term basis		—			—			(347,224	)
Proceeds (repayments) from short-term debt, net		160,000			(10,000	)		357,224
Payment of debt issuance costs		(465	)		(605	)		(3,905	)
Repurchases of Class A common stock		(778,484	)		(277,411	)		(162,275	)
Net share settlement of taxes from restricted stock awards		(1,625	)		—			—
Excess tax benefits from exercised stock options		22,566			109,946			60,672
Proceeds from stock options exercised		24,648			80,368			68,388
Other financing activities, net		(5,718	)		(6,770	)		(6,549	)
Net cash (used in) provided by financing activities		(579,078	)		(284,472	)		313,555
Effect of exchange rate changes		(1,286	)		(840	)		15
(Decrease) increase in cash and cash equivalents		(126,442	)		75,982			(101,784	)
Cash and cash equivalents, beginning of period		165,801			89,819			191,603
Cash and cash equivalents, end of period	$	39,359		$	165,801		$	89,819
Supplemental disclosures:
Taxes paid	$	205,498		$	126,846		$	47,516
Interest paid	$	67,231		$	75,084		$	60,977
Non-cash investing and financing activities:
Repurchases of Class A common stock included in accounts payable and accrued liabilities	$	—		$	3,038		$	1,511
Deferred tax liability established on the date of acquisitions	$	2,654		$	1,187		$	80,979
Tenant improvement allowance	$	9,134		$	—		$	—
Capital lease obligations	$	6,044		$	10,512		$	3,869
Capital expenditures included in accounts payable and accrued liabilities	$	76		$	5,960		$	4,946
Increase in goodwill due to acquisition related escrow distributions	$	—		$	—		$	5,934

The accompanying notes are an integral part of these consolidated financial statements.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands, except for share and per share data, unless otherwise stated)

1.    Organization:

Verisk Analytics, Inc. and its consolidated subsidiaries (“Verisk” or the “Company”) enable risk-bearing businesses to better understand and manage their risks. The Company provides its customers proprietary data that, combined with analytic methods, create embedded decision support solutions. The Company is one of the largest aggregators and providers of data pertaining to property and casualty (“P&C”) insurance risks in the United States of America (“U.S.”). The Company offers solutions for detecting fraud in the U.S. P&C insurance, financial and healthcare industries and sophisticated methods to predict and quantify loss in diverse contexts ranging from natural catastrophes to supply chain to health insurance. The Company provides solutions, including data, statistical models or tailored analytics, all designed to allow clients to make more logical decisions.

Verisk was established to serve as the parent holding company of Insurance Services Office, Inc. (“ISO”) upon completion of the initial public offering (“IPO”), which occurred on October 9, 2009. ISO was formed in 1971 as an advisory and rating organization for the P&C insurance industry to provide statistical and actuarial services, to develop insurance programs and to assist insurance companies in meeting state regulatory requirements. For over the past decade, the Company broadened its data assets, entered new markets, placed a greater emphasis on analytics, and pursued strategic acquisitions. Verisk trades under the ticker symbol “VRSK” on the NASDAQ Global Select Market.

2.    Basis of Presentation and Summary of Significant Accounting Policies:

The accompanying consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with these accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include acquisition purchase price allocations, the fair value of goodwill, the realization of deferred tax assets, acquisition related liabilities, fair value of stock based compensation, assets and liabilities for pension and postretirement benefits, and the estimate for the allowance for doubtful accounts. Actual results may ultimately differ from those estimates. Certain reclassifications have been made related to realized gain (loss) on available-for-sale securities, net and investment income within the consolidated financial statements and in the notes to confirm to the respective 2014 presentation. As of December 31, 2013, the Company's mortgage services business qualified as assets held-for-sale. Accordingly, the respective assets and liabilities were classified as held-for-sale in the consolidated balance sheet at December 31, 2013. The mortgage services business was sold on March 11, 2014. In addition, the results of operations for the Company's mortgage services business are reported as a discontinued operation for the years presented herein (See Note 10).

Significant accounting policies include the following:

(a)    Intercompany Accounts and Transactions

The consolidated financial statements include the accounts of Verisk. All intercompany accounts and transactions have been eliminated.

(b)    Revenue Recognition

The following describes the Company’s primary types of revenues and the applicable revenue recognition policies. The Company’s revenues are primarily derived from sales of services and revenue is recognized as services are performed and information is delivered to customers. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, fees and/or price is fixed or determinable, and collectability is reasonably assured. Revenue is recognized net of applicable sales tax withholdings.

Industry-Standard Insurance Programs

Industry-standard insurance programs, statistical agent and data services and actuarial services are sold to participating insurance company customers under annual agreements covering a calendar year where the price is determined at the inception of the agreement. In accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition, the Company recognizes revenue ratably over the term of these annual agreements, as services are performed and continuous access to information is provided over the entire term of the agreements.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

Property-Specific Rating and Underwriting Information

The Company provides property-specific rating information through reports issued for specific commercial properties, for which revenue is recognized when the report is delivered to the customer, provided that all other revenue recognition criteria are met.

In addition, the Company provides hosting or software solutions that provide continuous access to information about the properties being insured and underwriting information in the form of standard policy forms to be used by customers. As the customer has a contractual right to take possession of the software without significant penalty, revenues from these arrangements are recognized ratably over the contract period from the time when the customer had access to the solution in accordance with ASC 985-605, Software Revenue Recognition (“ASC 985-605”). The Company recognizes software license revenue when the arrangement does not require significant production, customization or modification of the software and the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred, fees are fixed or determinable, and collections are probable. These software arrangements include post-contract customer support (“PCS”). The Company recognizes software license revenue ratably over the duration of the annual license term as vendor specific objective evidence (“VSOE”) of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term.

Insurance

Insurance services primarily consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly.

There are also services within insurance, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Financial Services

Financial services include various types of services to customers. The Company primarily recognizes revenue ratably for these services over the term of the agreements, as services are performed and continuous service is provided over the entire term of the agreements. In addition, there are certain services which are comprised of transaction-based fees; in these instances, revenue is recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Healthcare

The Company provides software hosting arrangements to customers whereby the customer does not have the right to take possession of the software. As these arrangements include PCS throughout the hosting term, revenues from these multiple element arrangements are recognized in accordance with ASC 605-25, Revenue Recognition — Multiple Element Arrangements (“ASC 605-25”). The Company recognizes revenue ratably over the duration of the license term, which ranges from one to five years, since the contractual elements do not have stand alone value.

There are also services within healthcare, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Specialized Markets

Specialized markets consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly. In addition, specialized markets are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

The Company services long-term contract arrangements with certain customers. For these arrangements, revenue is recognized in accordance with ASC 605-35, Revenue Recognition — Construction-Type and Production-Type Contracts (“ASC 605-35”), using the percentage-of-completion method, which requires the use of estimates. In such instances, management is required to estimate the input measures, based on hours incurred to date compared to total estimated hours of the project, with consideration also given to output measures, such as contract milestones, when applicable. Adjustments to estimates are made in the period in which the facts requiring such revisions become known. Accordingly, recognized revenues and profits are subject to revisions as the contract progresses to completion. The Company considers the contract substantially complete when there is compliance with all performance specifications and there are no remaining costs or potential risk.

(c)    Fees Received in Advance

The Company invoices its customers in annual, quarterly, monthly or milestone installments. Amounts billed and collected in advance of contract terms are recorded as “Fees received in advance” in the accompanying consolidated balance sheets and are recognized as the services are performed and the applicable revenue recognition criteria are met.

(d)    Fixed Assets and Finite-lived Intangible Assets

Property and equipment, internal-use software and finite-lived intangibles are stated at cost less accumulated depreciation and amortization, which are computed on a straight-line basis over their estimated useful lives. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term.

The Company’s internal software development costs primarily relate to internal-use software. Such costs are capitalized in the application development stage in accordance with ASC 350-40, Internal-use Software. The Company also capitalizes software development costs upon the establishment of technological feasibility for a product in accordance with ASC 985-20, Software to be Sold, Leased, or Marketed (“ASC 985-20”). Software development costs are amortized on a straight-line basis over a three-year period, which management believes represents the useful life of these capitalized costs.

In accordance with ASC 360, Property, Plant & Equipment, whenever events or changes in circumstances indicate that the carrying amount of long-lived assets and finite-lived intangible assets may not be recoverable, the Company reviews its long-lived assets and finite-lived intangible assets for impairment by first comparing the carrying value of the assets to the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets. If the carrying value exceeds the sum of the assets’ undiscounted cash flows, the Company estimates and recognizes an impairment loss by taking the difference between the carrying value and fair value of the assets.

(e) Assets Held-for-Sale

The Company classifies its long-lived assets as held-for-sale when management commits to a plan to sell the assets, the assets are ready for immediate sale in their present condition, an active program to locate buyers has been initiated, the sale of the assets is probable and expected to be completed within one year, the assets are marketed at reasonable prices in relation to their fair value and it is unlikely that significant changes will be made to the plan to sell the assets. The Company measures the value of long-lived assets held for sale at the lower of the carrying amount or fair value, less cost to sell.

(f)    Capital and Operating Leases

The Company leases various property, plant and equipment. Leased property is accounted for under ASC 840, Leases (“ASC 840”). Accordingly, leased property that meets certain criteria is capitalized and the present value of the related lease payments is recorded as a liability. Amortization of assets accounted for as capital leases is computed utilizing the straight-line method over the shorter of the remaining lease term or the estimated useful life (principally 3 to 4 years for computer equipment and automobiles).

All other leases are accounted for as operating leases. Rent expense for operating leases, which may have rent escalation provisions or rent holidays, is recorded on a straight-line basis over the non-cancelable lease period in accordance with ASC 840. The initial lease term generally includes the build-out period, where no rent payments are typically due under the terms of the lease. The difference between rent expensed and rent paid is recorded as deferred rent. Construction allowances received from landlords are recorded as a deferred rent credit and amortized to rent expense over the term of the lease.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(g)    Investments

The Company’s investments at December 31, 2014 and 2013 included registered investment companies and equity investments in non-public companies. The Company accounts for short-term investments in accordance with ASC 320, Investments-Debt and Equity Securities (“ASC 320”).

There were no investments classified as trading securities at December 31, 2014 or 2013. All investments with readily determinable market values are classified as available-for-sale. While these investments are not held with the specific intention to sell them, they may be sold to support the Company’s investment strategies. All available-for-sale investments are carried at fair value. The cost of all available-for-sale investments sold is based on the specific identification method, with the exception of mutual fund-based investments, which is based on the weighted average cost method. Dividend income is accrued on the ex-dividend date.

The Company performs reviews of its investment portfolio when individual holdings have experienced a decline in fair value below their respective cost. The Company considers a number of factors in the evaluation of whether a decline in value is other-than-temporary including: (a) the financial condition and near term prospects of the issuer; (b) the Company’s ability and intent to retain the investment for a period of time sufficient to allow for an anticipated recovery in value; and (c) the period and degree to which the market value has been below cost. Where the decline is deemed to be other-than-temporary, a charge is recorded to “Investment income and others” in the accompanying consolidated statements of operations, and a new cost basis is established for the investment.

The Company’s equity investments in non-public companies are included in “Other assets” in the accompanying consolidated balance sheets. Those securities are carried at cost, as the Company owns less than 20% of the stock and does not otherwise have the ability to exercise significant influence. These securities are written down to their estimated realizable value when management considers there is an other-than-temporary decline in value based on financial information received and the business prospects of the entity.

(h)    Fair Value of Financial Instruments

The Company follows the provisions of ASC 820-10, Fair Value Measurements (“ASC 820-10”), which defines fair value, establishes a framework for measuring fair value under U.S. GAAP and expands fair value measurement disclosures. The Company follows the provisions of ASC 820-10 for its financial assets and liabilities recognized or disclosed at fair value on a recurring basis. The Company follows the provisions of ASC 820-10 for its non-financial assets and liabilities recognized or disclosed at fair value.

(i)    Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable is generally recorded at the invoiced amount. The allowance for doubtful accounts is estimated based on an analysis of the aging of the accounts receivable, historical write-offs, customer payment patterns, individual customer creditworthiness, current economic trends, and/or establishment of specific reserves for customers in adverse financial condition. The Company assesses the adequacy of the allowance for doubtful accounts on a quarterly basis.

(j)    Foreign Currency

The Company has determined local currencies are the functional currencies of the foreign operations. The assets and liabilities of foreign subsidiaries are translated at the period-end rate of exchange and statement of operations items are translated at the average rates prevailing during the year. The resulting translation adjustment is recorded as a component of “Accumulated other comprehensive losses” in the accompanying consolidated statements of changes in stockholders’ equity (deficit).

(k)    Stock Based Compensation

The Company follows ASC 718, Stock Compensation (“ASC 718”). Under ASC 718, stock based compensation cost is measured at the grant date, based on the fair value of the awards granted, and is recognized as expense over the requisite service period.

Other equity awards, including restricted stock, are valued at the closing price of the Company’s Class A common stock on the grant date. Restricted stock generally has a service vesting period of four years and the Company recognizes the expense ratably over this service vesting period.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

The Company estimates expected forfeitures of equity awards at the date of grant and recognizes compensation expense only for those awards expected to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate. Changes in the forfeiture assumptions may impact the total amount of expense ultimately recognized, as well as the timing of expense recognized over the requisite service period.

(l)    Research and Development Costs

Research and development costs, which are primarily related to the personnel and related overhead costs incurred in developing new services for customers, are expensed as incurred. Such costs were $25,508, $21,426 and $18,386 for the years ended December 31, 2014, 2013 and 2012, respectively, and were included in the accompanying consolidated statements of operations.

(m)    Advertising Costs

Advertising costs, which are primarily associated with promoting the Company’s brand, names and solutions provided, are expensed as incurred. Such costs were $6,360, $8,457 and $6,166 for the years ended December 31, 2014, 2013 and 2012, respectively.

(n)    Income Taxes

The Company accounts for income taxes under the asset and liability method under ASC 740, Income Taxes (“ASC 740”), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

Deferred tax assets are recorded to the extent these assets are more likely than not to be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. Valuation allowances are recognized to reduce deferred tax assets if it is determined to be more likely than not that all or some of the potential deferred tax assets will not be realized.

The Company follows ASC 740-10, Income Taxes (“ASC 740-10”), which clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740-10 provides that a tax benefit from an uncertain tax position may be recognized based on the technical merits when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes. Income tax positions must meet a more likely than not recognition threshold at the effective date to be recognized upon the adoption of ASC 740-10 and in subsequent periods. This standard also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within “Other liabilities” on the accompanying consolidated balance sheets.

(o)    Earnings Per Share

Basic and diluted earnings per share (“EPS”) are determined in accordance with ASC 260, Earnings per Share, which specifies the computation, presentation and disclosure requirements for EPS. Basic EPS excludes all dilutive common stock equivalents. It is based upon the weighted average number of common shares outstanding during the period. Diluted EPS, as calculated using the treasury stock method, reflects the potential dilution that would occur if the Company’s dilutive outstanding stock options and stock awards were issued.

(p)    Pension and Postretirement Benefits

The Company accounts for its pension and postretirement benefits under ASC 715, Compensation — Retirement Benefits (“ASC 715”). ASC 715 requires the recognition of the funded status of a benefit plan in the balance sheet, the recognition in other comprehensive income (loss) of gains or losses and prior service costs or credits arising during the period, but which are not included as components of periodic benefit cost, and the measurement of defined benefit plan assets and obligations as of the balance sheet date. The Company utilizes a valuation date of December 31.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(q)    Product Warranty Obligations

The Company provides warranty coverage for certain of its solutions. The Company recognizes a product warranty obligation when claims are probable and can be reasonably estimated. As of December 31, 2014 and 2013, product warranty obligations were not material.

In the ordinary course of business, the Company enters into numerous agreements that contain standard indemnities whereby the Company indemnifies another party for breaches of confidentiality, infringement of intellectual property or gross negligence. Such indemnifications are primarily granted under licensing of computer software. Most agreements contain provisions to limit the maximum potential amount of future payments that the Company could be required to make under these indemnifications; however, the Company is not able to develop an estimate of the maximum potential amount of future payments to be made under these indemnifications as the triggering events are not subject to predictability.

(r)    Loss Contingencies

The Company accrues for costs relating to litigation, claims and other contingent matters when such liabilities become probable and reasonably estimable. Such estimates are based on management’s judgment. Actual amounts paid may differ from amounts estimated, and such differences will be charged to operations in the period in which the final determination of the liability is made.

(s)    Goodwill

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have finite lives are amortized over their useful lives. Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30 or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. The Company completed the required annual impairment test as of June 30, 2014, which resulted in no impairment of goodwill in 2014. This test compares the carrying value of each reporting unit to its fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets, including goodwill assigned to that reporting unit, goodwill is not impaired. If the carrying value of the reporting unit’s net assets, including goodwill, exceeds the fair value of the reporting unit, then the Company will determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then an impairment loss is recorded for the difference between the carrying amount and the implied fair value of the goodwill.

(t)    Recent Accounting Pronouncements

In March 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU No. 2013-05”). Under ASU No. 2013-05, an entity is required to release any related cumulative translation adjustment into net income upon cessation to have a controlling financial interest in a subsidiary or group of assets within a foreign entity. ASU 2013-05 is effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. ASU 2013-05 was adopted by the Company on January 1, 2014. The adoption of ASU 2013-05 did not have a material impact on the Company’s consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU No. 2013-11”). Under ASU No. 2013-11, an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with the exception that these unrecognized tax benefits are not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position or the tax law. An additional exception applies when the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented as a liability and should not be combined with deferred tax assets. ASU No. 2013-11 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. The Company adopted the standard on January 1, 2014. The adoption of ASU No. 2013-11 did not have a material impact on the Company's consolidated financial statements.

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”). Under ASU No. 2014-08, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The amendments in this ASU further require additional disclosures on discontinued operations in the financial statements. ASU No. 2014-08 is effective prospectively for reporting periods beginning after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications as held-for-sale) that have not been reported in the financial statements previously issued. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are required to be reported in discontinued operations under the existing guidance and this ASU.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU No. 2014-09"). The objective of ASU No. 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU No. 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the contract’s performance obligations; and recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt ASU No. 2014-09. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements nor decided upon the method of adoption.

In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items ("ASU No. 2015-01"). As it is extremely rare in current practice for an event or transaction to be presented as an extraordinary item, this ASU eliminates from the U.S. GAAP the concept of extraordinary items. ASU No. 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are warranted.

3.    Concentration of Credit Risk:

Financial instruments that potentially expose the Company to credit risk consist primarily of cash and cash equivalents, available for sale securities and accounts receivable, which are generally not collateralized. The Company maintains its cash and cash equivalents in higher credit quality financial institutions in order to limit the amount of credit exposure. The total domestic cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) to a maximum amount of $250 per bank at December 31, 2014 and 2013. At December 31, 2014 and 2013, the Company had cash balances on deposit that exceeded the balance insured by the FDIC limit by approximately $16,316 and $138,028 with six banks. At December 31, 2014 and 2013, the Company also had cash on deposit with foreign banks of approximately $21,886 and $26,228, respectively.

The Company considers the concentration of credit risk associated with its trade accounts receivable to be commercially reasonable and believes that such concentration does not result in the significant risk of near-term severe adverse impacts. The Company’s top fifty customers represent approximately 41% of revenues for 2014, 38% for 2013 and 38% for 2012 with no individual customer accounting for more than 5% of revenues during the year ended December 31, 2014, and 3% of revenue during the years ended December 31, 2013 and 2012. No individual customer comprised more than 7% of accounts receivable at December 31, 2014 and 5% at December 31, 2013.

4.    Cash and Cash Equivalents:

Cash and cash equivalents consist of cash in banks, commercial paper, money-market funds, and other liquid instruments with original maturities of 90 days or less at the time of purchase.

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5.    Accounts Receivable:

Accounts receivable consisted of the following at December 31:

		2014			2013
Billed receivables	$	203,339		$	143,059
Unbilled receivables		23,324			19,903
Total receivables		226,663			162,962
Less allowance for doubtful accounts		(5,995	)		(4,415	)
Accounts receivable, net	$	220,668		$	158,547

6.    Investments:

Available-for-sale securities consisted of the following:

		Adjusted Cost		Gross Unrealized Loss			Fair Value
December 31, 2014
Registered investment companies	$	4,045	$	(244	)	$	3,801
December 31, 2013
Registered investment companies	$	4,098	$	(187	)	$	3,911

In addition to the available-for-sale securities above, the Company has equity investments in non-public companies in which the Company acquired non-controlling interests and for which no readily determinable market value exists. These securities were accounted for under the cost method in accordance with ASC 323-10-25, The Equity Method of Accounting for Investments in Common Stock. At December 31, 2014 and 2013, the carrying value of such securities was $8,487 and $3,602, respectively, and has been included in “Other assets” in the accompanying consolidated balance sheets.

Realized gain (loss) on securities, net, including write downs related to other-than-temporary impairments of available-for-sale securities and other assets, has been included in "Investment income and others" in the accompanying consolidated statements of operations. Realized gain (loss) on securities, net, was as follows for the years ended December 31:

		2014			2013			2012
Gross realized gain on sale of registered investment securities	$	285		$	966		$	420
Other-than-temporary impairment of registered investment securities		(28	)		(84	)		(74	)
Other-than-temporary impairment of non-controlling interest in non-public companies		—			(974	)		(678	)
Realized gain (loss) on securities, net	$	257		$	(92	)	$	(332	)

7.    Fair Value Measurements:

Certain assets and liabilities of the Company are reported at fair value in the accompanying consolidated balance sheets. Such assets and liabilities include amounts for both financial and non-financial instruments. To increase consistency and comparability of assets and liabilities recorded at fair value, ASC 820-10 establishes a three-level fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. ASC 820-10 requires disclosures detailing the extent to which companies’ measure assets and liabilities at fair value, the methods and assumptions used to measure fair value and the effect of fair value measurements on earnings. In accordance with ASC 820-10, the Company applied the following fair value hierarchy:

Level 1 — Assets or liabilities for which the identical item is traded on an active exchange, such as publicly-traded instruments.

Level 2 — Assets and liabilities valued based on observable market data for similar instruments.

Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market; instruments valued based on the best available data, some of which is internally-developed, and considers risk premiums that a market participant would require.

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The following table provides information for such assets and liabilities as of December 31, 2014 and 2013. The fair values of cash and cash equivalents (other than money-market funds which are recorded on a reported net asset value basis disclosed below), accounts receivable, accounts payable and accrued liabilities, fees received in advance, acquisition related liabilities prior to the adoption of ASC 805, Business Combinations (“ASC 805”), short-term debt, and short-term debt expected to be refinanced approximate their carrying amounts because of the short-term nature of these instruments.

The following table summarizes fair value measurements by level for cash equivalents and registered investment companies that were measured at fair value on a recurring basis:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
December 31, 2014
Cash equivalents – money-market funds	$	3,707	$	—	$	3,707
Registered investment companies(1)	$	3,801	$	3,801	$	—
December 31, 2013
Cash equivalents – money-market funds	$	889	$	—	$	889
Registered investment companies(1)	$	3,911	$	3,911	$	—

(1) Registered investment companies are classified as available-for-sale securities and are valued using quoted prices in active

markets multiplied by the number of shares owned.

The Company has not elected to carry its long-term debt at fair value. The carrying value of the long-term debt represents amortized cost. The Company assesses the fair value of its long-term debt based on quoted market prices if available, and if not, an estimate of interest rates available to the Company for debt with similar features, the Company’s current credit rating and spreads applicable to the Company. The fair value of the long-term debt would be a Level 2 liability if the long-term debt was measured at fair value on the consolidated balance sheets. The following table summarizes the carrying value and estimated fair value of the long-term debt as of December 31, 2014 and 2013 respectively:

	2014				2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial instrument not carried at fair value:
Long-term debt excluding capitalized leases	$	1,265,848	$	1,371,213	$	1,265,129	$	1,335,844

8.    Fixed Assets

The following is a summary of fixed assets:

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	Useful Life	Cost		Accumulated Depreciation and Amortization			Net
December 31, 2014
Furniture and office equipment	3-10 years	$	199,199	$	(131,055	)	$	68,144
Leasehold improvements	Lease term		65,212		(27,884	)		37,328
Purchased software	3 years		116,089		(80,794	)		35,295
Software development costs	3 years		266,559		(111,766	)		154,793
Leased equipment	3-4 years		32,776		(26,063	)		6,713
Total fixed assets		$	679,835	$	(377,562	)	$	302,273
December 31, 2013
Furniture and office equipment	3-10 years	$	179,564	$	(105,262	)	$	74,302
Leasehold improvements	Lease term		38,796		(22,022	)		16,774
Purchased software	3 years		89,064		(65,753	)		23,311
Software development costs	3 years		201,192		(91,656	)		109,536
Leased equipment	3-4 years		33,956		(24,506	)		9,450
Total fixed assets		$	542,572	$	(309,199	)	$	233,373

Depreciation and amortization of fixed assets for the years ended December 31, 2014, 2013 and 2012 were $85,506, $66,190 and $46,637, of which $19,000, $12,806 and $8,935 related to amortization of internal-use software development costs, respectively. Amortization expense related to development of software for sale in accordance with ASC 985-20 was $4,497 and $3,623 for the years ended December 31, 2014 and 2013, respectively. There was no amortization expense related to development of software for sale during the year ended December 31, 2012 as these projects were in process. The Company had unamortized software development costs that had been capitalized in accordance with ASC 985-20 of $34,749 and $29,149 as of December 31, 2014 and 2013, respectively. Leased equipment includes amounts held under capital leases for automobiles, computer software and computer equipment.

9.    Acquisitions

2014 Acquisition

On December 8, 2014, the Company acquired 100% of the stock of Maplecroft.Net Limited (“Maplecroft”), a provider of global risk analytics and advisory services, for a net cash purchase price of $30,141, which includes $2,725 of indemnity escrows held by the seller. Using a proprietary data aggregation and analytical approach, Maplecroft enables its customers to assess, monitor, and forecast a growing range of worldwide risks, including geopolitical and societal risks. Within the Company's Decision Analytics segment, this acquisition establishes the Company's position as a provider of value chain optimization tools, providing comprehensive quantitative risk analytics and platforms by which customers can visualize, quantify, mitigate, and manage risk. Maplecroft is headquartered in Bath, England.

The preliminary purchase price allocation of the acquisition resulted in the following:

		Maplecroft
Accounts receivable	$	1,833
Current assets		543
Fixed assets		98
Intangible assets		13,270
Goodwill		21,369
Total assets acquired		37,113
Current liabilities		4,318
Deferred income taxes, net		2,654
Total liabilities assumed		6,972
Net assets acquired	$	30,141

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The preliminary amounts assigned to intangible assets by type for the acquisition are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based	10 years	$	3,202
Marketing-related	10 years		458
Customer-related	10 years		9,610
Total intangible assets	10 years	$	13,270

Due to the timing of the acquisition, the allocation of the purchase price (noted within the tables above) is all subject to revisions as additional information is obtained about the facts and circumstances that existed as of the acquisition date. The revisions may have an impact on the consolidated financial statements. The allocation of the purchase price will be finalized once all information is obtained, but not to exceed one year from the acquisition date.

The goodwill associated with the stock purchase of Maplecroft is not deductible for tax purposes. For the year ended

December 31, 2014, the Company incurred transaction costs related to this acquisition of $349 included within “Selling, general and administrative” expenses in the accompanying consolidated statements of operations.

2012 Acquisitions

On December 20, 2012, the Company acquired the net assets of Insurance Risk Management Solutions (“IRMS”). IRMS provided integrated property risk assessment technology underlying one of the Company’s geographic information system (“GIS”) underwriting solutions. At the end of 2012, the long-term contract with IRMS was expiring and precipitated a change in the business relationship. Instead of continuing forward with a new service agreement, the Company acquired IRMS as this will enable the Company to better manage, enhance and continue to use the solutions as part of its Risk Assessment segment. The Company paid a net cash purchase price of $26,422 and funded $1,000 of indemnity escrows. The preliminary purchase price allocation of the acquisition is presented as “Others” in the table below.

On August 31, 2012, the Company acquired Argus Information & Advisory Services, LLC (“Argus”), a provider of information, competitive benchmarking, scoring solutions, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe, for a net cash purchase price of approximately $404,995 and funded $20,000 of indemnity escrows. Argus leverages its comprehensive payment data sets and provides proprietary solutions to a client base that includes credit and debit card issuers, retail banks and other consumer financial services providers, payment processors, insurance companies, and other industry stakeholders. Within the Company’s Decision Analytics segment, this acquisition enhances the Company’s position as a provider of data, analytics, and decision-support solutions to financial institutions globally.

On July 2, 2012, the Company acquired the net assets of Aspect Loss Prevention, LLC (“ALP”), a provider of loss prevention and analytic solutions to the retail, entertainment, and food industries, for a net cash purchase price of approximately $6,917 and funded $800 of indemnity escrows. Within the Company’s Decision Analytics segment, ALP further advances the Company’s position as a provider of data, crime analytics, and decision-support solutions. The purchase price allocation of the acquisition is presented as “Others” in the table below.

On March 30, 2012, the Company acquired 100% of the stock of MediConnect Global, Inc. (“MediConnect”), a service provider of medical record retrieval, digitization, coding, extraction, and analysis, for a net cash purchase price of approximately $331,405 and funded $17,000 of indemnity escrows. Within the Company’s Decision Analytics segment, MediConnect further supports the Company’s objective as the leading provider of data, analytics, and decision-support solutions to the healthcare and property casualty industry.

The preliminary purchase price allocations of the acquisitions resulted in the following:

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

	MediConnect		Argus		Others		Total
Accounts receivable	$	7,077	$	12,165	$	489	$	19,731
Current assets		17,238		568		68		17,874
Fixed assets		1,075		4,994		76		6,145
Intangible assets		159,506		179,316		9,264		348,086
Goodwill		222,976		277,857		29,875		530,708
Other assets		5,087		20,000		1,801		26,888
Total assets acquired		412,959		494,900		41,573		949,432
Current liabilities		15,007		9,661		4,625		29,293
Deferred income taxes, net		40,836		40,244		—		81,080
Other liabilities		8,711		20,000		1,809		30,520
Total liabilities assumed		64,554		69,905		6,434		140,893
Net assets acquired	$	348,405	$	424,995	$	35,139	$	808,539

Current assets and current liabilities primarily consisted of MediConnect’s indemnity escrow of $12,000. Other assets and other liabilities primarily consisted of $26,800 of indemnity escrows for MediConnect, ALP, Argus, and IRMS.

The amounts assigned to intangible assets by type for the acquisitions are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based		10 years	$	77,936
Marketing-related		5 years		30,331
Customer-related		13 years		239,819
Total intangible assets		11 years	$	348,086

The goodwill associated with the stock purchase of MediConnect is not deductible for tax purposes; whereas the goodwill associated with the asset purchases of ALP and IRMS is deductible for tax purposes. The goodwill associated with the acquisition of Argus is partially deductible for income tax purposes as approximately 46% of the net cash purchase price represented an asset purchase. For the year ended December 31, 2012, the Company incurred transaction costs related to these acquisitions of $1,874 included within “Selling, general and administrative” expenses in the accompanying consolidated statements of operations. In accordance with ASC 805, the allocations of the purchase prices for MediConnect, ALP, Argus and IRMS were revised during the measurement period. Refer to Note 11. Goodwill and Intangible Assets for further discussion.

Supplemental information on an unaudited pro forma basis is presented below as if the acquisitions of MediConnect and Argus occurred at the beginning of the year 2012. The pro forma information for the year ended December 31, 2012 presented below is based on estimates and assumptions, which the Company believes are reasonable and not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had these acquisitions been completed at the beginning of 2012. The unaudited pro forma information includes intangible asset amortization charges and incremental borrowing costs as a result of the acquisitions, net of related tax, estimated using the Company’s effective tax rate for continuing operations for the years ended December 31:

	2012
	(unaudited)
Pro forma revenues	$	1,462,677
Pro forma net income	$	321,140
Pro forma basic income per share	$	1.94
Pro forma diluted income per share	$	1.87

Acquisition Escrows

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

Pursuant to the related acquisition agreements, the Company has funded various escrow accounts to satisfy pre-acquisition indemnity and tax claims arising subsequent to the acquisition dates, as well as a portion of the contingent payments. At December 31, 2014 and 2013, the escrows amounted to $5,583 and $27,967, respectively, and have been included in “Other current assets” in the accompanying consolidated balance sheets.

10. Discontinued Operations:

On March 11, 2014, the Company sold 100% of the stock of the Company’s mortgage services business, Interthinx, which was a guarantor subsidiary, in exchange for a purchase price of $151,170. At the completion of the sale, Interthinx ceased being a guarantor. The cash received was adjusted subsequent to close to reflect final balances of certain working capital accounts and other closing adjustments. The Company recognized income from discontinued operations, net of tax, of $29,177 during 2014. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. Refer to Note 18. Segment Reporting for further discussion.

The mortgage services business met the criteria for being reported as a discontinued operation and has been segregated from continuing operations. The following table summarizes the results from the discontinued operation for the years ended December 31:

	2014			2013			2012
Revenues from discontinued operations	$	11,512		$	109,151		$	126,472
Income from discontinued operations before income taxes (including gain on sale of $65,410 in 2014)		54,482			10,819			19,382
Provision for income taxes (including tax on the gain on sale in 2014)		(25,305	)		(4,753	)		(7,703	)
Income from discontinued operations, net of tax	$	29,177		$	6,066		$	11,679

The following table summarizes the assets held-for-sale and the liabilities held-for-sale as of December 31, 2013:

Accounts receivable, net	$	15,295
Income taxes payable		(3,005	)
Other current assets		1,535
Total current assets held-for-sale	$	13,825
Fixed assets, net	$	7,670
Intangible assets, net		9,018
Goodwill		69,207
Other assets		50
Total noncurrent assets held-for-sale	$	85,945
Accounts payable and accrued liabilities	$	8,272
Fees received in advance		1,177
Total current liabilities held-for-sale	$	9,449
Deferred income taxes, net	$	3,975
Other liabilities		554
Total noncurrent liabilities held-for-sale	$	4,529

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11.    Goodwill and Intangible Assets:

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have finite lives are amortized over their useful lives. The Company completed the required annual impairment test as of June 30, 2014, 2013 and 2012, which resulted in no impairment of goodwill. Based on the results of the impairment assessment as of June 30, 2014, the Company determined that the fair value of its reporting units exceeded their respective carrying value. There were no goodwill impairment indicators after the date of the last annual impairment test.

The following is a summary of the change in goodwill from December 31, 2012 through December 31, 2014, both in total and as allocated to the Company’s operating segments:

	Risk Assessment		Decision Analytics			Total
Goodwill at December 31, 2012 (1)	$	55,555	$	1,191,904		$	1,247,459
Current year acquisitions		—		705			705
Purchase accounting reclassifications		—		2,724			2,724
Discontinued operations (Note 10)		—		(69,207	)		(69,207	)
Goodwill at December 31, 2013 (1)		55,555		1,126,126			1,181,681
Current year acquisitions		—		22,740			22,740
Acquisition related escrow funding		—		2,725			2,725
Goodwill at December 31, 2014 (1)	$	55,555	$	1,151,591		$	1,207,146

(1) These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

During the year ended December 31, 2013, the Company finalized the purchase accounting for the acquisitions of MediConnect, ALP and Argus, which resulted in an increase in goodwill of $2,724, an increase in fixed assets of $316, an increase in current liabilities of $1,548, an increase in deferred tax liabilities of $1,187, and a cash distribution to Argus of $305 related to the finalization of working capital. The impact of the finalization of the purchase accounting for these acquisitions was not material to the consolidated statements of operations for the years ended December 31, 2013 and 2012.

The Company’s intangible assets and related accumulated amortization consisted of the following:

	Weighted Average Useful Life	Cost		Accumulated Amortization			Net
December 31, 2014
Technology-based	8 years	$	299,705	$	(195,698	)	$	104,007
Marketing-related	5 years		71,504		(54,745	)		16,759
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		399,011		(113,301	)		285,710
Total intangible assets		$	776,775	$	(370,299	)	$	406,476
December 31, 2013
Technology-based	8 years	$	294,940	$	(180,581	)	$	114,359
Marketing-related	5 years		71,047		(44,274	)		26,773
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		388,505		(82,019	)		306,486
Total intangible assets		$	761,047	$	(313,429	)	$	447,618

Amortization expense related to intangible assets for the years ended December 31, 2014, 2013 and 2012, was approximately $56,870, $63,741, and $52,207, respectively. Estimated amortization expense in future periods through 2020 and thereafter for intangible assets subject to amortization is as follows:

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Year		Amount
2015	$	52,268
2016		50,436
2017		49,532
2018		48,786
2019		47,326
2020 and thereafter		158,128
Total	$	406,476

12.    Income Taxes:

The components of the provision for income taxes from continuing operations for the years ended December 31 were as follows:

	2014			2013		2012
Current:
Federal and foreign	$	169,153		$	135,215	$	111,713
State and local		26,333			18,764		8,442
Total current provision for income taxes		195,486			153,979		120,155
Deferred:
Federal and foreign		27,009			38,160		56,036
State and local		(2,740	)		4,287		6,172
Total deferred provision for income taxes		24,269			42,447		62,208
Provision for income taxes	$	219,755		$	196,426	$	182,363

The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory tax rate is as follows for the years ended December 31:

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of federal tax benefit	2.7	%	2.6	%	1.7	%
Non-deductible KSOP expenses	0.9	%	0.9	%	0.9	%
Other	(1.4	)%	(2.0	)%	(1.1	)%
Effective tax rate for continuing operations	37.2	%	36.5	%	36.5	%

The increase in the effective tax rate in 2014 compared to 2013 was due to greater tax benefits realized from tax planning strategies, as well as favorable audit settlements and resolution of uncertain tax positions in the prior period.

The tax effects of significant items comprising the Company’s deferred tax assets as of December 31 are as follows:

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	2014			2013
Deferred income tax asset:
Employee wages, pension and other benefits	$	29,756		$	26,113
Deferred revenue		1,835			1,835
Deferred rent		5,463			4,342
Net operating loss carryover		4,292			8,247
State tax adjustments		2,472			1,639
Capital and other unrealized losses		3,255			3,301
Other		4,956			6,720
Total		52,029			52,197
Less valuation allowance		(789	)		(741	)
Deferred income tax asset		51,240			51,456
Deferred income tax liability:
Fixed assets and intangible assets		(242,857	)		(223,639	)
Other		(6,151	)		(21,344	)
Deferred income tax liability		(249,008	)		(244,983	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

The deferred income liability has been classified in “Deferred income taxes, net” in the accompanying consolidated balance sheets as of December 31, as follows:

	2014			2013
Current deferred income tax asset, net	$	4,772		$	5,077
Non-current deferred income tax liability, net		(202,540	)		(198,604	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

The deferred income tax liability of $197,768 consists primarily of timing differences involving depreciation and amortization.

The ultimate realization of the deferred tax assets depends on the Company’s ability to generate sufficient taxable income in the future. The Company has provided for a valuation allowance against the deferred tax assets associated with the net operating losses of certain subsidiaries. The Company’s net operating loss carryforwards expire as follows:

Years	Amount
2015-2022	$	6,912
2023-2027		13,755
2028-2034		26,674
Total	$	47,341

A valuation allowance has been established based on the Company’s evaluation of the likelihood of utilizing these benefits before they expire. The Company has determined that the generation of future taxable income from certain subsidiaries to fully realize the deferred tax assets is uncertain. Other than these items, the Company has determined, based on the Company’s historical operating performance, that taxable income of the Company will more likely than not be sufficient to fully realize the deferred tax assets.

It is the practice of the Company to permanently reinvest the undistributed earnings of its foreign subsidiaries in those operations. As of December 31, 2014, the Company has not made a provision for U.S. or additional foreign withholdings taxes on approximately $12,440 of the unremitted earnings. The Company does not rely on these unremitted earnings as a source of funds for its domestic business as it expects to have sufficient cash flow in the U.S. to fund its U.S. operational and strategic needs. Consequently, the Company has not provided for U.S. federal or state income taxes or associated withholding taxes on these undistributed foreign earnings.

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The Company follows ASC 740-10, which prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. For each tax position, the Company must determine whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is then measured to determine the amount of benefit to recognize within the financial statements. No benefits may be recognized for tax positions that do not meet the more likely than not threshold. A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:

	2014			2013			2012
Unrecognized tax benefit at January 1	$	9,524		$	17,883		$	17,877
Gross increase in tax positions in prior period		2,679			541			911
Gross decrease in tax positions in prior period		—			(4,241	)		(1,494	)
Gross increase in tax positions from stock acquisitions		—			—			3,304
Settlements		—			(390	)		(1,770	)
Lapse of statute of limitations		(1,566	)		(4,269	)		(945	)
Unrecognized tax benefit at December 31	$	10,637		$	9,524		$	17,883

Of the total unrecognized tax benefits at December 31, 2014, 2013 and 2012, $5,771, $4,658 and $10,103, respectively, represent the amounts that, if recognized, would have a favorable effect on the Company’s effective tax rate in any future periods.

The total gross amount of accrued interest and penalties at December 31, 2014, 2013 and 2012 was $2,818, $2,619 and $3,728, respectively. The Company’s practice is to recognize interest and penalties associated with income taxes as a component of “Provision for income taxes” in the accompanying consolidated statements of operations.

The Company does not expect a significant increase in unrecognized benefits related to federal, foreign, or state tax exposures within the coming year. In addition, the Company believes that it is reasonably possible that approximately $1,109 of its currently remaining unrecognized tax positions, each of which is individually insignificant, may be recognized by the end of 2015 as a result of a combination of audit settlements and lapses of statute of limitations, net of additional uncertain tax positions.

The Company is subject to tax in the U.S. and in various state and foreign jurisdictions. The Company joined by its domestic subsidiaries, files a consolidated income tax return for the Federal income tax purposes. With few exceptions, the Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for tax years before 2009. As a result of refunds requested through the filing of amended returns, the Internal Revenue Service is conducting an audit of the 2009 - 2011 time period.

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13.    Composition of Certain Financial Statement Captions:

The following table presents the components of “Other current assets”, “Accounts payable and accrued liabilities” and “Other liabilities” as of December 31:

	2014		2013
Other current assets:
Acquisition related escrows	$	5,583	$	27,967
Other current assets		13,292		6,714
Total other current assets	$	18,875	$	34,681
Accounts payable and accrued liabilities:
Accrued salaries, benefits and other related costs	$	87,729	$	79,372
Escrow liabilities		5,565		27,918
Trade accounts payable and other accrued expenses		87,432		80,974
Total accounts payable and accrued liabilities	$	180,726	$	188,264
Other liabilities:
Unrecognized tax benefits, including interest and penalty	$	13,455	$	12,143
Deferred rent		22,386		12,219
Other liabilities		7,547		11,681
Total other liabilities	$	43,388	$	36,043

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14.    Debt:

The following table presents short-term and long-term debt by issuance as of December 31:

	Issuance Date	Maturity Date		2014		2013
Short-term debt and current portion of long-term debt:
Syndicated revolving credit facility	Various	Various	$	160,000	$	—
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		17,500		—
6.28% Series I shelf notes	4/29/2008	4/29/2015		85,000		—
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		17,500		—
6.35% Series B shelf notes	4/29/2008	4/29/2015		50,000		—
Capital lease obligations	Various	Various		6,058		4,448
Short-term debt and current portion of long-term debt				336,058		4,448
Long-term debt:
Senior notes:
4.125% senior notes, less unamortized discount of $2,137 and $2,415 as of December 31, 2014 and 2013, respectively	9/12/2012	9/12/2022		347,863		347,585
4.875% senior notes, less unamortized discount of $1,361, and $1,699 as of December 31, 2014 and 2013, respectively	12/8/2011	1/15/2019		248,639		248,301
5.80% senior notes, less unamortized discount of $654 and $757 as of December 31, 2014 and 2013, respectively	4/6/2011	5/1/2021		449,346		449,243
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		—		17,500
6.28% Series I shelf notes	4/29/2008	4/29/2015		—		85,000
6.85% Series J shelf notes	6/15/2009	6/15/2016		50,000		50,000
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		—		17,500
6.35% Series B shelf notes	4/29/2008	4/29/2015		—		50,000
Capital lease obligations	Various	Various		5,026		6,310
Long-term debt				1,100,874		1,271,439
Total debt			$	1,436,932	$	1,275,887

Accrued interest associated with the Company’s outstanding debt obligations was $16,265 and $16,150 as of December 31, 2014 and 2013, respectively, and included in “Accounts payable and accrued liabilities” within the accompanying consolidated balance sheets. Interest expense associated with the Company’s outstanding debt obligations was $66,881, $73,068 and $69,892 for the years ended December 31, 2014, 2013 and 2012, respectively.

Senior Notes

On September 12, 2012, the Company completed an issuance of senior notes in the aggregate principal amount of $350,000. These senior notes are due on September 12, 2022 and accrue interest at a rate of 4.125% per annum. Interest is payable semi-annually on March 12th and September 12th of each year.

On December 8, 2011, the Company completed an issuance of senior notes in the aggregate principal amount of $250,000. These senior notes are due on January 15, 2019 and accrue interest at a rate of 4.875% per annum. Interest is payable semi-annually on January 15th and July 15th of each year.

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On April 6, 2011, the Company completed an issuance of senior notes in the aggregate principal amount of $450,000. These senior notes are due on May 1, 2021 and accrue interest at a rate of 5.80% per annum. Interest is payable semi-annually on May 1st and November 1st of each year.

All senior notes issued by Verisk Analytics, Inc. (the "Parent Company") are fully and unconditionally guaranteed, jointly and severally, on an unsecured and unsubordinated basis by ISO, the principal operating subsidiary and certain subsidiaries that guarantee the syndicated revolving credit facility or any amendment, refinancing or replacement thereof (See Note 21. Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries for further information). The debt issuance costs are amortized from the date of issuance to the maturity date. The senior notes rank equally with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. However, the senior notes are subordinated to the indebtedness of any of the subsidiaries that do not guarantee the senior notes and are effectively subordinated to any future secured indebtedness to the extent of the value of the assets securing such indebtedness. The guarantees of the senior notes rank equally and ratably in right of payment with all other existing and future unsecured and unsubordinated indebtedness of the guarantors, and senior in right of payment to all future subordinated indebtedness of the guarantors. Because the guarantees of the senior notes are not secured, such guarantees are effectively subordinated to any existing and future secured indebtedness of the applicable guarantor to the extent of the value of the collateral securing that indebtedness. Upon a change of control event, the holders of the senior notes have the right to require the Company to repurchase all or any part of such holder’s senior notes at a purchase price in cash equal to 101% of the principal amount of the senior notes plus accrued and unpaid interest, if any, to the date of repurchase. The indenture governing the senior notes restricts the Company’s ability and its subsidiaries’ ability to, among other things, create certain liens, enter into sale/leaseback transactions and consolidate with, sell, lease, convey or otherwise transfer all or substantially all of the Company's assets, or merge with or into, any other person or entity.

Prudential Master Shelf Agreement

The Company had an uncommitted master shelf agreement with Prudential Capital Group that expired on August 30, 2013. The Company did not extend this agreement. As of December 31, 2014, $152,500 was outstanding under this agreement.

New York Life Master Shelf Agreement

The Company had an uncommitted master shelf agreement with New York Life that expired on March 16, 2013. The Company did not extend this agreement. As of December 31, 2014, $67,500 was outstanding under this agreement.

Syndicated Revolving Credit Facility

The Company has a committed senior unsecured Syndicated Revolving Credit Facility (the “Credit Facility”) with Bank of America N.A., JPMorgan Chase Bank N.A., Wells Fargo Bank N.A., SunTrust Bank, RBS Citizens N.A., Morgan Stanley Bank N.A., TD Bank N.A., Royal Bank of Canada, The Northern Trust Company, Capital One, N.A., and HSBC Bank USA, N.A. On October 21, 2014, the Company amended its Credit Facility to increase the borrowing capacity from $975,000 to $990,000 and extend the maturity date from October 24, 2018 to October 24, 2019. The Company amortizes all one-time fees and third party costs associated with the execution and amendment of this Credit Facility through the maturity date. Interest is payable at maturity at a rate of LIBOR plus 1.125% to 1.625%, depending upon the result of certain ratios defined in the credit agreement. The Credit Facility contains certain customary financial and other covenants that, among other things, require the Company to maintain certain leverage and interest coverage ratios. Verisk and ISO are co-borrowers under the Credit Facility. Borrowings may be used for general corporate purposes, including working capital, capital expenditures, acquisitions, and share repurchase programs.

As of December 31, 2014, the Company has an available borrowing capacity, net of outstanding letters of credit, of $827,874 under the Credit Facility. Borrowings may be used for general corporate purposes, including working capital and capital expenditures, acquisitions and the share repurchase program (the "Repurchase Program"). As of December 31, 2014 and 2013, the Company had $160,000 and $0 outstanding borrowings under the Credit Facility, respectively. In January and February 2015, the Company repaid a total of $140,000 of the $160,000 outstanding borrowings under the Credit Facility.

The Company was in compliance with all financial covenants at December 31, 2014.

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Debt Maturities

The following table reflects the Company’s debt maturities:

Year	Amount
2015	$	336,058
2016		53,959
2017		770
2018		168
2019		250,050
2020 and thereafter		800,079
Total	$	1,441,084

15.    Stockholders’ Equity (Deficit):

The Company has 1,200,000,000 shares of authorized Class A common stock. The common shares have rights to any dividend declared by the board of directors, subject to any preferential or other rights of any outstanding preferred stock, and voting rights to elect all twelve members of the board of directors.

The Company has 80,000,000 shares of authorized preferred stock, par value $0.001 per share. The preferred shares have preferential rights over the Class A common shares with respect to dividends and net distribution upon liquidation. The Company did not issue any preferred shares as of December 31, 2014.

Share Repurchase Program

Since May 2010, the Company has authorized repurchases of up to $2,000,000 of its common stock through its Repurchase Program, including the additional authorization of $300,000 announced on June 4, 2014 and the Accelerated Share Repurchase ("ASR") program of $500,000 announced on December 16, 2014. Since the introduction of share repurchase as a feature of the Company's capital management strategies in 2010, the Company has repurchased shares with an aggregate value of $1,810,193. As of December 31, 2014, the Company had $189,807, excluding the ASR program, available to repurchase shares. The Company has no obligation to repurchase stock under this program and intends to use this authorization as a means of offsetting dilution from the issuance of shares under the ISO 401(k) Savings and Employee Stock Ownership Plan ("KSOP"), the Verisk 2013 Equity Incentive Plan (the "2013 Incentive Plan"), the Verisk 2009 Equity Incentive Plan (the “2009 Incentive Plan”), and the ISO 1996 Incentive Plan (the “1996 Incentive Plan”), while providing flexibility to repurchase additional shares if warranted. This authorization has no expiration date and may be increased, reduced, suspended, or terminated at any time. Shares that are repurchased under the Repurchase Program will be recorded as treasury stock and will be available for future issuance.

On December 17, 2014 and December 18, 2014, the Company entered into two agreements, collectively the ASR agreement, to repurchase shares of its common stock for an aggregate purchase price of $500,000. Upon payment of the aggregate purchase price in December 2014, the Company received an initial delivery of 6,372,472 shares of the Company's common stock at a price of $62.77 per share, representing approximately $400,000 of the aggregate purchase price. The aggregate purchase price was recorded as a reduction to stockholders' equity, consisting of a $400,000 increase in treasury stock and a $100,000 decrease in additional paid-in capital, in the Company's consolidated statements of changes in stockholders' equity (deficit). Upon final settlement of the ASR agreement in June 2015, the Company may be entitled to receive additional shares of its common stock or, under certain limited circumstances, be required to deliver shares to the counterparties or, at the Company's election, pay cash to the counterparties. As of December 31, 2014, the shares associated with the remaining portion of the aggregate purchase price have not yet been settled. These shares were not included in the calculation of the diluted weighted average common shares outstanding during the period, because their effect was anti-dilutive.

The ASR agreement was accounted for as an initial treasury stock transaction and a forward stock purchase agreement indexed to the Company's own common stock. The forward stock purchase agreement is classified as an equity instrument under ASC 815-40, Contracts in Entity's Own Equity ("ASC 815-40") and was deemed to have a fair value of zero at the effective dates. The initial repurchase of 6,372,472 shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted average common shares outstanding for basic and diluted earnings per share ("EPS").

During the years ended December 31, 2014 and 2013, the Company repurchased 10,802,087 and 4,532,552 shares of common stock as part of the Repurchase Program at a weighted average price of $62.53 and $61.54 per share, respectively. The

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Company utilized cash from operations and borrowings from its Credit Facility to fund these repurchases. As treasury stock purchases are recorded based on trade date, the Company has included $0 and $3,038 in “Accounts payable and accrued liabilities” in the accompanying consolidated balance sheets for those purchases that have not settled as of December 31, 2014 and 2013, respectively.

Treasury Stock

As of December 31, 2014, the Company’s treasury stock consisted of 386,089,811 shares of Class A common stock. During the years ended December 31, 2014 and 2013, the Company reissued 1,257,387 and 4,263,406 shares of Class A common stock, under the 2013 Incentive Plan, 2009 Incentive Plan and the 1996 Incentive Plan, from the treasury shares at a weighted average price of $5.29 and $4.54 per share, respectively.

Earnings Per Share

Basic EPS is computed by dividing income from continuing operations, income from discontinued operations and net income, respectively, by the weighted average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding, using the treasury stock method, if the dilutive potential common shares, including stock options, nonvested restricted stock, nonvested restricted stock units, and the impact from the ASR program, had been issued.

The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31:

	2014		2013		2012
	(In thousands, except for share and per share data)
Numerator used in basic and diluted EPS:
Income from continuing operations	$	370,865	$	342,314	$	317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively		29,177		6,066		11,679
Net income	$	400,042	$	348,380	$	329,142
Denominator:
Weighted average number of common shares used in basic EPS		165,823,803		168,031,412		165,890,258
Effect of dilutive shares:
Potential common stock issuable from stock options and stock awards		3,308,620		4,244,948		5,819,260
Weighted average number of common shares and dilutive potential common shares used in diluted EPS		169,132,423		172,276,360		171,709,518

The potential shares of common stock that were excluded from diluted EPS were 1,633,670, 656,499 and 659,246 at December 31, 2014, 2013 and 2012, respectively, because the effect of including those potential shares was anti-dilutive.

Accumulated Other Comprehensive Losses

The following is a summary of accumulated other comprehensive losses as of December 31:

	2014			2013
Foreign currency translation adjustment	$	(3,086	)	$	(1,800	)
Unrealized losses on available-for-sale securities, net of tax		(110	)		(75	)
Pension and postretirement adjustment, net of tax		(77,318	)		(41,613	)
Accumulated other comprehensive losses	$	(80,514	)	$	(43,488	)

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

The before tax and after tax amounts of other comprehensive income for the years ended December 31, 2014, 2013 and 2012 are summarized below:

	Before Tax			Tax Benefit (Expense)			After Tax
December 31, 2014
Foreign currency translation adjustment	$	(1,286	)	$	—		$	(1,286	)
Unrealized loss on available-for-sale securities before reclassifications		(314	)		121			(193	)
Amount reclassified from accumulated other comprehensive losses (1)		257			(99	)		158
Unrealized loss on available-for-sale securities		(57	)		22			(35	)
Pension and postretirement adjustment before reclassifications		(56,635	)		21,629			(35,006	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(1,134	)		435			(699	)
Pension and postretirement adjustment		(57,769	)		22,064			(35,705	)
Total other comprehensive loss	$	(59,112	)	$	22,086		$	(37,026	)
December 31, 2013
Foreign currency translation adjustment	$	(840	)	$	—		$	(840	)
Unrealized loss on available-for-sale securities before reclassifications		(1,122	)		433			(689	)
Amount reclassified from accumulated other comprehensive losses (1)		882			(340	)		542
Unrealized loss on available-for-sale securities		(240	)		93			(147	)
Pension and postretirement adjustment before reclassifications		80,773			(30,611	)		50,162
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(5,699	)		2,196			(3,503	)
Pension and postretirement adjustment		75,074			(28,415	)		46,659
Total other comprehensive income	$	73,994		$	(28,322	)	$	45,672
December 31, 2012
Foreign currency translation adjustment	$	15		$	—		$	15
Unrealized loss on available-for-sale securities before reclassifications		(727	)		316			(411	)
Amount reclassified from accumulated other comprehensive losses (1)		346			(132	)		214
Unrealized loss on available-for-sale securities		(381	)		184			(197	)
Pension and postretirement adjustment before reclassifications		(13,082	)		4,865			(8,217	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(4,001	)		1,527			(2,474	)
Pension and postretirement adjustment		(17,083	)		6,392			(10,691	)
Total other comprehensive loss	$	(17,449	)	$	6,576		$	(10,873	)

(1) This accumulated other comprehensive losses component, before tax, is included under “Investment income and others” in the accompanying consolidated statements of operations.

(2) This accumulated other comprehensive losses component, before tax, is included under “Cost of revenues” and “Selling, general and administrative” in the accompanying consolidated statements of operations. This component is also included in the computation of net periodic benefit (credit) cost (see Note 17. Pension and Postretirement Benefits for additional details).

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16.    Compensation Plans:

KSOP

The Company has established the KSOP for the benefit of eligible employees in the U.S. and Puerto Rico. The KSOP includes both an employee savings component and an employee stock ownership component. The purpose of the combined plan is to enable the Company’s employees to participate in a tax-deferred savings arrangement under Internal Revenue Service Code Sections 401(a) and 401(k) (the “Code”), and to provide employee equity participation in the Company through the employee stock ownership plan (“ESOP”) accounts.

Under the KSOP, eligible employees may make pre-tax and after-tax cash contributions as a percentage of their compensation, subject to certain limitations under the applicable provisions of the Code. The maximum pre-tax contribution that can be made to the 401(k) account as determined under the provisions of Code Section 401(g) is $18, $18 and $17 for 2014, 2013 and 2012, respectively. Certain eligible participants (age 50 and older) may contribute an additional $6 on a pre-tax basis for 2014, 2013 and 2012. After-tax contributions are limited to 10% of a participant’s compensation. The Company provides quarterly matching contributions in Verisk Class A common stock. The quarterly matching contributions are primarily equal to 75% of the first 6% of the participant’s contribution.

The Company established the ESOP component as a funding vehicle for the KSOP. The common shares acquired by the KSOP were pledged as collateral under an intercompany loan agreement ("ESOP loan") between the KSOP and Company. The Company makes quarterly cash contributions to the KSOP equal to the KSOP’s debt service. As the debt is repaid, shares are released from collateral and are used to fund the quarterly 401(k) matching and profit sharing contributions before being allocated to active employees in proportion to their annual salaries in relation to total participant salaries. The Company accounts for its ESOP in accordance with ASC 718-40, Employee Stock Ownership Plans (“ASC 718-40”) and ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”). As shares are committed to be released from collateral, the Company reports compensation expense at the then-current fair value of the shares, and the shares become outstanding for EPS computations. For the years ended December 31, 2014, 2013 and 2012, there were no ESOP contributions.

In accordance with the ESOP loan, the Company is also required to contribute a total of $17,000, plus interest, of cash or shares to the KSOP by 2016. Earlier contribution is at the Company's discretion. As of December 31, 2014, the ESOP loan collateral consisted of 145,007 shares of Verisk Class A common stock valued at $64.05 per share. As of December 31, 2014, the Company had 11,468,151 allocated ESOP shares.

In 2005, the Company established the ISO Profit Sharing Plan (the “Profit Sharing Plan”), a defined contribution plan, to replace the qualified pension plan for all eligible employees hired on or after March 1, 2005. The Profit Sharing Plan is a component of the KSOP. Eligible employees participated in the Profit Sharing Plan if they completed 1,000 hours of service each plan year and were employed on December 31 of that year. The Company can make a discretionary contribution to the Profit Sharing Plan based on the annual performance of the Company. Participants vest once they have completed four years and 1,000 hours of service. For fiscal years 2014, 2013 and 2012, there were no profit sharing contributions.

At December 31, 2014, 2013 and 2012, the fair value of Verisk Class A common stock was $64.05, $65.72, and $50.97 per share, respectively. KSOP compensation expense for 2014, 2013 and 2012 was approximately $15,351, $14,930 and $13,111, respectively.

Equity Compensation Plans

All of the Company’s outstanding stock options and restricted stock are covered under the 2013 Incentive Plan, 2009 Incentive Plan or the 1996 Incentive Plan. Awards under the 2013 Incentive Plan may include one or more of the following types: (i) stock options (both nonqualified and incentive stock options), (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units, (v) performance awards, (vi) other share-based awards, and (vii) cash. Employees, directors and consultants are eligible for awards under the 2013 Incentive Plan. The Company issued common stock under these plans from the Company's treasury shares. On May 15, 2013, the Company’s shareholders approved the 2013 Incentive Plan.  The number of shares of Class A common stock available for issuance under the 2013 Incentive Plan is 15,700,000 and such amount shall be reduced on a 1-for-1 basis for every share issued that is subject to an option or stock appreciation right and on a 2.5-for-1 basis for every share issued that is subject to an award other than an option or stock appreciation right.  Shares that were subject to an award under the 2013 Incentive Plan that become forfeited, expired or otherwise terminated shall again be available for issuance under the 2013 Incentive Plan on a 1-for-1 basis if the shares were subject to options or stock appreciation rights, and on an 2.5-for-1 basis if the shares were subject to awards other than options or stock appreciation rights. As of December 31, 2014, there were 12,771,637 shares of Class A common stock reserved and available for future issuance. Cash received from stock option exercises for the years ended December 31, 2014, 2013 and 2012 was $24,648, $80,368 and $68,388, respectively.

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In 2014, the Company granted 1,145,976 nonqualified stock options to key employees. The nonqualified stock options have an exercise price equal to the closing price of the Company’s common stock on the grant date, with a ten-year contractual term and a service vesting period of four years. In addition, the Company granted 230,196 shares of restricted stock and 588 shares of common stock to key employees. The restricted stock is valued at the closing price of the Company’s common stock on the date of grant and has a service vesting period of four years. The Company recognizes the expense of the restricted stock ratably over the periods in which the restrictions lapse. The restricted stock is not assignable or transferrable until it becomes vested. Also in 2014, the Company granted 33,906 nonqualified stock options that were immediately vested, 62,546 nonqualified stock options with a one-year service vesting period, 3,387 shares of common stock, and 15,807 deferred stock units to the directors of the Company. The nonqualified stock options have an exercise price equal to the closing price of the Company’s common stock on the grant date and a ten-year contractual term.

The fair value of the stock options granted was estimated on the date of grant using a Black-Scholes option valuation model that uses the weighted-average assumptions noted in the following table during the years ended December 31:

	2014			2013			2012
Option pricing model		Black-Scholes			Black-Scholes			Black-Scholes
Expected volatility		20.53	%		29.27	%		32.22	%
Risk-free interest rate		1.48	%		0.70	%		0.90	%
Expected term in years		4.4			4.5			4.7
Dividend yield		—	%		—	%		—	%
Weighted average grant date fair value per stock option	$	11.86		$	15.58		$	13.59

The expected term for a majority of the awards granted was estimated based on studies of historical experience and projected exercise behavior. However, for certain awards granted, for which no historical exercise pattern exists, the expected term was estimated using the simplified method. The risk-free interest rate is based on the yield of U.S. Treasury zero coupon securities with a maturity equal to the expected term of the equity award. The volatility factor is calculated using historical daily closing prices over the most recent period that is commensurate with the expected term of the stock option awards. The volatility factor for stock options granted prior to 2014 was based on the average volatility of the Company's peers as the Company did not have a history of stock price sufficient to cover the expected term of those awards. The volatility factor for stock options granted in 2014 was based on the volatility of the Company's stock. The expected dividend yield was based on the Company’s expected annual dividend rate on the date of grant.

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A summary of options outstanding under the Incentive Plan and the Option Plan and changes during the three years then ended is presented below:

	Number of Options			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
	(In thousands, except for share and per share data)
Outstanding at January 1, 2012		18,896,405		$	16.55	$	445,510
Granted		973,124		$	47.38
Exercised		(6,880,678	)	$	9.09	$	257,391
Cancelled or expired		(415,553	)	$	19.30
Outstanding at December 31, 2012		12,573,298		$	22.21	$	361,653
Granted		888,038		$	61.10
Exercised		(4,076,750	)	$	19.79	$	168,056
Cancelled or expired		(149,266	)	$	43.14
Outstanding at December 31, 2013		9,235,320		$	26.67	$	360,611
Granted		1,242,428		$	59.83
Exercised		(1,091,746	)	$	22.29	$	43,863
Cancelled or expired		(180,312	)	$	55.23
Outstanding at December 31, 2014		9,205,690		$	31.11	$	303,267
Options exercisable at December 31, 2014		7,159,895		$	24.00	$	286,728
Options exercisable at December 31, 2013		7,169,089		$	20.98	$	320,766

A summary of the status of the Company’s nonvested options and changes is presented below:

	Number of Options			Weighted Average Grant-Date Fair Value Per Share
Nonvested balance at January 1, 2012		6,743,094		$	7.52
Granted		973,124		$	13.59
Vested		(3,524,363	)	$	7.38
Cancelled or expired		(415,553	)	$	5.62
Nonvested balance at December 31, 2012		3,776,302		$	9.43
Granted		888,038		$	15.58
Vested		(2,448,843	)	$	8.81
Cancelled or expired		(149,266	)	$	12.18
Nonvested balance at December 31, 2013		2,066,231		$	12.61
Granted		1,242,428		$	11.86
Vested		(1,082,552	)	$	11.71
Cancelled or expired		(180,312	)	$	13.56
Nonvested balance at December 31, 2014		2,045,795		$	12.55

Intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the quoted price of Verisk’s common stock as of the reporting date. The aggregate intrinsic value of stock options outstanding and exercisable at December 31, 2014 was $303,267 and $286,728, respectively. In accordance with ASC 718, excess tax benefit from exercised stock options is recorded as an increase to additional-paid-in capital and a corresponding reduction in taxes payable. This tax benefit is calculated as the excess of the intrinsic value of options exercised in excess of compensation recognized for financial reporting purposes. The amount of the tax benefit that has been realized, as a result of those excess tax benefits, is presented as a financing cash inflow within the accompanying consolidated statements of cash flows. For the years ended December 31, 2014,

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2013 and 2012, the Company recorded excess tax benefit from exercised stock options of $15,988, $58,056 and $88,387, respectively. The Company realized $22,566, $109,946 and $60,672 of tax benefit within the Company’s tax payments through December 31, 2014, 2013 and 2012, respectively.The Company estimates expected forfeitures of equity awards at the date of grant and recognizes compensation expense only for those awards that the Company expects to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate. Changes in the forfeiture assumptions may impact the total amount of expense ultimately recognized over the requisite service period and may impact the timing of expense recognized over the requisite service period. Stock based compensation expense for 2014, 2013 and 2012 was $20,253, $21,087 and $24,696, respectively.

A summary of the status of the restricted stock awarded under the 2013 Incentive Plan and changes is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Outstanding at January 1, 2012		145,634		$	33.32
Granted		244,397		$	47.10
Vested		(41,120	)	$	34.51
Forfeited		(17,898	)	$	43.27
Outstanding at December 31, 2012		331,013		$	42.78
Granted		241,674		$	61.12
Vested		(150,668	)	$	37.82
Forfeited		(25,270	)	$	53.00
Outstanding at December 31, 2013		396,749		$	52.82
Granted		246,003		$	59.86
Vested		(163,280	)	$	49.94
Forfeited		(37,162	)	$	55.53
Outstanding at December 31, 2014		442,310		$	56.84

For the year ended December 31, 2014, certain employees had restricted stock vesting and covered the aggregate statutory minimum tax withholding of $1,625 through a net settlement of 27,159 shares. The payment of taxes related to the vesting was recorded as a reduction to additional paid-in-capital. This transaction is reflected within "Net share settlement of restricted stock awards" within cash flows from financing activities in the accompanying consolidated statements of cash flows.

As of December 31, 2014, there was $41,576 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the 2013 Incentive Plan and the 2009 Incentive Plan. That cost is expected to be recognized over a weighted-average period of 2.51 years. As of December 31, 2014, there were 2,045,795 and 442,310 nonvested stock options and restricted stock, respectively, of which 1,652,852 and 366,776 are expected to vest. The total grant date fair value of options vested during the years ended December 31, 2014, 2013 and 2012 was $12,780, $16,468 and $19,834, respectively. The total grant date fair value of restricted stock vested during the year ended December 31, 2014, 2013 and 2012 was $9,839, $7,153 and $3,206, respectively.

The Company also offers eligible employees the opportunity to participate in an employee stock purchase plan ("ESPP"). Under the ESPP, participating employees may authorize payroll deductions of up to 20.0% of their regular base salary and up to 50.0% of their short-term incentive compensation, both of which in total may not exceed $25 in any calendar year, to purchase shares of the Company’s Class A common stock at a 5.0% discount of its fair market value at the time of purchase. In accordance with ASC 718, the ESPP is noncompensatory as the purchase discount is 5.0% or less from the fair market value, substantially all employees that meet limited employment qualifications may participate, and it incorporates no option features. During the years ended December 31, 2014 and 2013, the Company issued 26,953 and 27,879 shares of common stock at a weighted average discounted price of $57.98 and $59.62, respectively.

17.    Pension and Postretirement Benefits:

The Company maintained a qualified defined benefit pension plan for certain of its employees through membership in the Pension Plan for Insurance Organizations (the “Pension Plan”), a multiple-employer trust. The Company applied a cash balance formula to determine future benefits. Under the cash balance formula, each participant has an account, which is credited annually

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based on salary rates determined by years of service, as well as the interest earned on the previous year-end cash balance. The Company also has a non-qualified supplemental cash balance plan (“SERP”) for certain employees. The SERP is funded from the general assets of the Company. Effective February 29, 2012, the Company instituted a hard freeze, which eliminated all future compensation and service credits, to all participants in the Pension Plan and SERP. The freeze in 2012 reduced the unfunded pension liability by approximately $10,200 and the Company realized a curtailment gain of $780 in “Cost of revenues” and “Selling, general and administrative” expenses in the accompanying consolidated statements of operations.

The Pension Plan’s funding policy is to contribute annually at an amount between the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974 and the maximum amount that can be deducted for federal income tax purposes. In April 2012, the Company completed a voluntary prefunding to the Pension Plan of $72,000, which resulted in a total contribution of $78,837 for the year, of which $28,206 was the minimum contribution requirement for 2012. Due to the prefunding, the minimum contribution requirement was and is expected to be $0 in 2014 and 2015, respectively. The Company contributed $1,177 and $3,911 to the SERP in 2014 and 2013, respectively, and expects to contribute $777 in 2015.

The Company also provides certain healthcare and life insurance benefits for both active and retired employees. The Postretirement Health and Life Insurance Plan (the “Postretirement Plan”), which has been frozen, is contributory, requiring participants to pay a stated percentage of the premium for coverage. The Company expects to contribute $1,148 to the Postretirement Plan in 2015.

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The following table sets forth the changes in the benefit obligations and the plan assets, the (funded) unfunded status of the Pension Plan, SERP and Postretirement Plan, and the amounts recognized in the Company’s consolidated balance sheets at December 31:

	Pension Plan and SERP						Postretirement Plan
	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation at January 1	$	420,664		$	460,482		$	20,399		$	22,434
Interest cost		19,073			17,860			593			608
Actuarial loss (gain)		61,804			(31,962	)		(411	)		(426	)
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Federal subsidy on benefits paid		—			—			391			260
Benefit obligation at December 31	$	471,259		$	420,664		$	18,773		$	20,399
Accumulated benefit obligation at December 31	$	471,259		$	420,664
Change in plan assets:
Fair value of plan assets at January 1	$	467,912		$	421,134		$	16,601		$	18,766
Actual return on plan assets, net of expenses		36,474			68,583			743			(198	)
Employer contributions, net		1,177			3,911			(305	)		250
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Subsidies received		—			—			391			260
Fair value of plan assets at December 31	$	475,281		$	467,912		$	15,231		$	16,601
(Funded) unfunded status at December 31	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798
Amounts recognized in the consolidated balance sheets consist of:
Pension assets, noncurrent	$	(18,589	)	$	(60,955	)	$	—		$	—
Pension, SERP and postretirement benefits, current		762			700			1,132			1,737
Pension, SERP and postretirement benefits, noncurrent		13,805			13,007			2,410			2,061
Total Pension, SERP and Postretirement benefits	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798

The pre-tax components included within accumulated other comprehensive losses as of December 31 are summarized below:

	Pension Plan and SERP				Postretirement Plan
	2014		2013		2014			2013
Prior service benefit	$	—	$	—	$	(1,000	)	$	(1,147	)
Actuarial losses		120,735		62,226		8,321			9,208
Accumulated other comprehensive losses, pretax	$	120,735	$	62,226	$	7,321		$	8,061

The pre-tax components of net periodic benefit (credit) cost and the amounts recognized in other comprehensive loss (income) are summarized below for the years ended December 31:

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	Pension Plan and SERP									Postretirement Plan
	2014			2013			2012			2014			2013			2012
Service cost	$	—		$	—		$	282		$	—		$	—		$	—
Interest cost		19,073			17,860			19,888			593			608			779
Curtailment gain		—			—			(780	)		—			—			—
Expected return on plan assets		(33,942	)		(30,480	)		(28,899	)		(786	)		(919	)		(255	)
Amortization of prior service benefit		—			—			(133	)		(146	)		(146	)		(146	)
Amortization of net actuarial loss		763			5,078			3,646			517			767			634
Net periodic benefit (credit) cost		(14,106	)		(7,542	)		(5,996	)		178			310			1,012
Amortization of actuarial loss reclassified from accumulated other comprehensive losses		(354	)		(1,320	)		(279	)		—			—			—
Amortization of prior service benefit reclassified from accumulated other comprehensive losses		—			—			133			146			146			146
Prior service benefit		—			—			(7,475	)		—			—			—
Net loss recognized reclassified from accumulated other comprehensive losses		(409	)		(3,758	)		(3,368	)		—			—			—
Actuarial gain (loss)		59,272			(70,065	)		26,184			(886	)		(77	)		1,742
Total recognized in other comprehensive loss (income)		58,509			(75,143	)		15,195			(740	)		69			1,888
Total recognized in net periodic benefit (credit) cost and other comprehensive loss (income)	$	44,403		$	(82,685	)	$	9,199		$	(562	)	$	379		$	2,900

The estimated amounts in accumulated other comprehensive losses that are expected to be recognized as components of net periodic benefit (credit) cost during 2015 are summarized below:

	Pension Plan And SERP		Postretirement Plan			Total
Amortization of prior service benefit	$	—	$	(146	)	$	(146	)
Amortization of net actuarial loss		2,969		599			3,568
Total	$	2,969	$	453		$	3,422

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The weighted-average assumptions used to determine benefit obligations as of December 31, 2014 and 2013 and net periodic benefit (credit) cost for the years 2014, 2013 and 2012 are provided below:

	Pension Plan and SERP						Postretirement Plan
Weighted-average assumptions used to determine benefit obligations:	2014		2013				2014		2013
Discount rate	3.99	%	4.74	%			3.00	%	3.45	%
Expected return on plan assets	7.50	%	7.50	%			4.00	%	5.00	%
Weighted-average assumptions used to determine net periodic benefit (credit) loss:	2014		2013		2012		2014		2013		2012
Discount rate	4.73	%	3.98	%	4.98	%	3.45	%	2.75	%	3.50	%
Expected return on plan assets	7.50	%	7.50	%	7.50	%	5.00	%	5.00	%	N/A
Rate of compensation increase	N/A		N/A		4.00	%	N/A		N/A		N/A

The following table presents the estimated future benefit payments for the respective plans. The future benefit payments for the Postretirement Plan are net of the federal Medicare subsidy.

	Pension Plan and SERP		Postretirement Plan
	Gross Benefit Amount		Gross Benefit Amount		Medicare Subsidy Payments			Net Benefit Amount
2015	$	29,256	$	2,825	$	(395	)	$	2,430
2016	$	30,070	$	2,660	$	(387	)	$	2,273
2017	$	30,303	$	2,480	$	(378	)	$	2,102
2018	$	30,223	$	2,291	$	(368	)	$	1,923
2019	$	30,692	$	2,093	$	(358	)	$	1,735
2020-2024	$	149,595	$	7,587	$	(1,601	)	$	5,986

The healthcare cost trend rate for 2014 was 7.50% gradually decreasing to 5.00% in 2020. Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plan. A 1.00% change in assumed healthcare cost trend rates would have the following effects:

	1% Increase		1% Decrease
Effect of total service and interest cost components of net periodic postretirement healthcare benefit cost	$	12	$	(11	)
Effect on the healthcare component of the accumulated postretirement benefit obligation	$	516	$	(477	)

The expected subsidy from the Medicare Prescription Drug, Improvement and Modernization Act of 2003 reduced the Company’s accumulated postretirement benefit obligation by approximately $3,182 and $2,868 as of December 31, 2014 and 2013, and the net periodic benefit cost by approximately $10, $19 and $114 in fiscal 2014, 2013 and 2012, respectively.

The expected return on the Pension Plan assets for 2014 and 2013 was 7.50%, which was determined by taking into consideration the Company’s analysis of its actual historical investment returns to a broader long-term forecast after adjusting for the target investment allocation and reflecting the current economic environment. The Company’s investment guidelines target investment allocation of 60% equity securities and 40% debt securities. The Pension Plan assets consist primarily of investments in various fixed income and equity funds. Investment guidelines are established with each investment manager. These guidelines provide the parameters within which the investment managers agree to operate, including criteria that determine eligible and ineligible securities, diversification requirements and credit quality standards, where applicable. Investment managers are prohibited from entering into any speculative hedging transactions. The investment objective is to achieve a maximum total return with strong emphasis on preservation of capital in real terms. The domestic equity portion of the total portfolio should range between 40% and 60%. The international equity portion of the total portfolio should range between 10% and 20%. The fixed

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income portion of the total portfolio should range between 20% and 40%. The asset allocation at December 31, 2014 and 2013, and target allocation for 2015 by asset category are as follows:

Asset Category	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity securities	60.00	%	56.80	%	66.80	%
Debt securities	40.00	%	41.30	%	33.20	%
Other	—	%	1.90	%	—	%
Total	100.00	%	100.00	%	100.00	%

The Company has used the target investment allocation to derive the expected return as the Company believes this allocation will be retained on an ongoing basis that will be commensurate with the projected cash flows of the plan. The expected return for each investment category within the target investment allocation is developed using average historical rates of return for each targeted investment category, considering the projected cash flow of the Pension Plan. The difference between this expected return and the actual return on plan assets is generally deferred and recognized over subsequent periods through future net periodic benefit costs. The Company believes that the use of the average historical rates of returns is consistent with the timing and amounts of expected contributions to the plans and benefit payments to plan participants. These considerations provide the basis for reasonable assumptions with respect to the expected long-term rate of return on plan assets.

The Company also maintains a voluntary employees beneficiary association plan (the “VEBA Plan”) under Section 501(c)(9) of the Internal Revenue Code to fund the Postretirement Plan. The asset allocation for the VEBA Plan at December 31, 2014 and target allocation for 2015 are 100% in debt securities.

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The following table summarizes the fair value measurements by level of the Pension Plan and Postretirement Plan assets. Refer to Note 7. Fair Value Measurements for further discussion with respect to fair value hierarchy.

	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
December 31, 2014
Equity
Managed equity accounts (1)	$	83,690		$	83,690	$	—		$	—
Equity — pooled separate account (2)		186,102			—		186,102			—
Equity — partnerships (3)		240			—		—			240
Debt
Fixed income manager — pooled separate account (2)		196,034			—		196,034			—
Fixed income manager — government securities (4)		15,231			15,231		—			—
Other
Cash — pooled separate account (2)		9,215			—		9,215			—
Total	$	490,512		$	98,921	$	391,351		$	240
December 31, 2013
Equity
Managed equity accounts (1)	$	110,852		$	110,852	$	—		$	—
Equity — pooled separate account (2)		200,947			—		200,947			—
Equity — partnerships (3)		635			—		—			635
Debt
Fixed income manager — pooled separate account (2)		165,157			—		165,157			—
Fixed income manager — government securities (4)		16,601			16,601		—			—
Other
Cash deficit — pooled separate account (2)		(9,679	)		—		(9,679	)		—
Total	$	484,513		$	127,453	$	356,425		$	635

(1) Valued at the closing price of shares for domestic stocks within the managed equity accounts, and valued at the net asset value (“NAV”) of shares for mutual funds at either the closing price reported in the active market or based on yields currently available on comparable securities of issuers with similar credit ratings for corporate bonds held by the Pension Plan in these managed accounts.

(2) The pooled separate accounts invest in domestic and foreign stocks, bonds and mutual funds. The fair values of these stocks, bonds and mutual funds are publicly quoted and are used in determining the NAV of the pooled separate account, which is not publicly quoted.

(3) Investments for which readily determinable prices do not exist are valued by the General Partner using either the market or income approach. In establishing the estimated fair value of investments, including those without readily determinable values, the General Partner assumes a reasonable period of time for liquidation of the investment, and takes into consideration the financial condition and operating results of the underlying portfolio company, nature of investment, restrictions on marketability, holding period, market conditions, foreign currency exposures, and other factors the General Partner deems appropriate.

(4) The fund invested in the U.S. government, its agencies or instrumentalities or securities that are rated AAA by S&P, AAA by Fitch, or Aaa by Moody’s, including but not limited to mortgage securities such as agency and non-agency collateralized

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mortgage obligations, and other obligations that are secured by mortgages or mortgage backed securities, and valued at the closing price reported in the active market.

The following table sets forth a summary of changes in fair value of the Pension Plan’s Level 3 assets for the years ended December 31:

	Equity-partnerships
	2014			2013
Balance at January 1	$	635		$	1,022
Realized and unrealized loss on plan assets, net		(395	)		(387	)
Balance at December 31	$	240		$	635

18.    Segment Reporting

ASC 280-10, Disclosures About Segments of an Enterprise and Related Information (“ASC 280-10”), establishes standards for reporting information about operating segments. ASC 280-10 requires that a public business enterprise reports financial and descriptive information about its reportable operating segments. Operating segments are components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s President and CEO is identified as the CODM as defined by ASC 280-10. To align with the internal management of the Company’s business operations based on service offerings, the Company is organized into the following two operating segments, which are also the Company’s reportable segments:

Decision Analytics: The Company develops solutions that its customers use to analyze key processes in managing risk. The Company’s combination of algorithms and analytic methods incorporates its proprietary data to generate solutions. In most cases, the Company’s customers integrate the solutions into their models, formulas or underwriting criteria in order to predict potential loss events, ranging from hurricanes and earthquakes to unanticipated healthcare claims. The Company develops catastrophe and extreme event models and offers solutions covering natural and man-made risks, including acts of terrorism. The Company also develops solutions that allow customers to quantify costs after loss events occur. Fraud solutions include data on claim histories, analysis of claims to find emerging patterns of fraud, and identification of suspicious claims in the insurance and healthcare sectors.

On March 11, 2014, the Company sold the Company's mortgage services business, Interthinx. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. Refer to Note 10 for more information.

Risk Assessment: The Company is the leading provider of statistical, actuarial and underwriting data for the U.S. P&C insurance industry. The Company’s databases include cleansed and standardized records describing premiums and losses in insurance transactions, casualty and property risk attributes for commercial buildings and their occupants and fire suppression capabilities of municipalities. The Company uses this data to create policy language and proprietary risk classifications that are industry standards and to generate prospective loss cost estimates used to price insurance policies.

The two aforementioned operating segments represent the segments for which separate discrete financial information is available and upon which operating results are regularly evaluated by the CODM in order to assess performance and allocate resources. The Company uses EBITDA as the profitability measure for making decisions regarding ongoing operations. EBITDA is net income before interest expense, provision for income taxes, depreciation and amortization of fixed and intangible assets. Operating expenses consist of direct and indirect costs principally related to personnel, facilities, software license fees, consulting, travel, and third-party information services. Indirect costs are generally allocated to the segments using fixed rates established by management based upon estimated expense contribution levels and other assumptions that management considers reasonable. The Company does not allocate interest expense and provision for income taxes, since these items are not considered in evaluating the segment’s overall operating performance. The CODM does not evaluate the financial performance of each segment based on assets. On a geographic basis, no individual country outside of the U.S. accounted for 1.00% or more of the Company’s consolidated revenue for the years ended December 31, 2014, 2013 or 2012. No individual country outside of the U.S. accounted for 3.00% or more of total consolidated long-term assets as of December 31, 2014 and 1.00% as of December 31, 2013.

The following table provides the Company’s revenue and operating income performance by reportable segment for the years ended December 31, as well as a reconciliation to operating income for all periods presented in the accompanying consolidated statements of operations:

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		2014									2013									2012
		Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total
Revenues	$	1,096,074			650,652		$	1,746,726		$	977,427		$	618,276		$	1,595,703		$	828,342		$	579,506		$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		508,411			208,187			716,598			427,978			194,545			622,523			334,280			182,428			516,708
Selling, general and administrative		153,453			73,853			227,306			151,557			77,425			228,982			139,122			80,946			220,068
Investment income and others		—			(158	)		(158	)		16			(625	)		(609	)		22			(128	)		(106	)
EBITDA from discontinued operations		(55,588	)		—			(55,588	)		(15,466	)		—			(15,466	)		(24,737	)		—			(24,737	)
EBITDA		489,798			368,770			858,568			413,342			346,931			760,273			379,655			316,260			695,915
Depreciation and amortization of fixed assets		64,826			20,680			85,506			51,739			14,451			66,190			33,106			13,531			46,637
Amortization of intangible assets		56,517			353			56,870			63,388			353			63,741			52,207			—			52,207
Investment income and others		—			158			158			(16	)		625			609			(22	)		128			106
EBITDA from discontinued operations		55,588			—			55,588			15,466			—			15,466			24,737			—			24,737
Operating income	$	312,867		$	347,579		$	660,446		$	282,765		$	331,502		$	614,267		$	269,627		$	302,601		$	572,228

Operating segment revenue by type of service is provided below for the years ended December 31:

	2014		2013		2012
Decision Analytics
Insurance	$	598,757	$	539,150	$	493,456
Financial services		96,763		81,113		26,567
Healthcare		315,628		271,538		222,955
Specialized markets		84,926		85,626		85,364
Total Decision Analytics		1,096,074		977,427		828,342
Risk Assessment
Industry-standard insurance programs		495,065		471,130		450,646
Property-specific rating and underwriting information		155,587		147,146		128,860
Total Risk Assessment		650,652		618,276		579,506
Total consolidated revenues	$	1,746,726	$	1,595,703	$	1,407,848

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19.    Related Parties:

The Company considers its Class A stockholders that own more than 5% of the outstanding stock within the class to be related parties as defined within ASC 850, Related Party Disclosures. The Company had no related parties owning more than 5% of the entire class of stock as of December 31, 2014 and 2013.

In addition, the Company had no revenues from related parties for the years ended December 31, 2014, 2013 and 2012.

20.    Commitments and Contingencies:

The Company’s operations are conducted on leased premises. Approximate minimum rentals under long-term noncancelable leases for all leased premises, computer equipment and automobiles are as follows:

Years Ending	Operating Leases		Capital Leases
2015	$	37,958	$	6,295
2016		38,506		4,076
2017		37,350		791
2018		29,074		181
2019		31,775		59
2020 and thereafter		260,033		85
Net minimum lease payments	$	434,696		11,487
Less amount representing interest				403
Present value of net minimum lease capital payments			$	11,084

Most of the leases require payment of property taxes and utilities and, in certain cases, contain renewal options. Operating leases consist of office space. Capital leases consist of computer equipment, office equipment, and leased automobiles. Rent expense on operating leases approximated $35,149, $32,186 and $29,618 in 2014, 2013 and 2012, respectively.

In addition, the Company is a party to legal proceedings with respect to a variety of matters in the ordinary course of business, including the matters described below. With respect to ongoing matters, the Company is unable, at the present time, to determine the ultimate resolution of or provide a reasonable estimate of the range of possible loss attributable to these matters or the impact they may have on the Company’s results of operations, financial position or cash flows. This is primarily because the matters are generally in early stages and discovery has either not commenced or been completed. Although the Company believes it has strong defenses and intends to vigorously defend these matters, the Company could in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations, financial position or cash flows.

Interthinx, Inc. Litigation

On May 13, 2013, the Company was served with a putative class action titled Celeste Shaw v. Interthinx, Inc., Verisk Analytics, Inc. and Jeffrey Moyer. The plaintiff is a current employee of the Company’s former subsidiary Interthinx, Inc. based in Colorado, who filed the class action in the United States District Court for the District of Colorado on behalf of all fraud detection employees who have worked for Interthinx for the last three years nationwide and who were classified as exempt employees. The class complaint claims that the fraud detection employees were misclassified as exempt employees and, as a result, were denied certain wages and benefits that would have been received if they were properly classified as non-exempt employees. It pleads three causes of action against defendants: (1) Collective Action under section 216(b) of the Fair Labor Standards Act for unpaid overtime (nationwide class); (2) A Fed. R. Civ. P. 23 class action under the Colorado Wage Act and Wage Order for unpaid overtime and (3) A Fed. R. Civ. P. 23 class action under Colorado Wage Act for unpaid commissions/nondiscretionary bonuses (Colorado class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, declaratory and injunctive relief interest, costs and attorneys’ fees.

On July 2, 2013, the Company was served with a putative class action titled Shabnam Shelia Dehdashtian v. Interthinx, Inc. and Verisk Analytics, Inc. in the United States District Court for the Central District of California. The plaintiff, Shabnam Shelia Dehdashtian, a former mortgage auditor at the Company’s former subsidiary Interthinx, Inc. in California, filed the class action on behalf of all persons who have been employed by Interthinx as auditors, mortgage compliance underwriters and mortgage auditors nationwide at any time (i) within 3 years prior to the filing of this action until trial for the Fair Labor Standards Act (FLSA) class and (ii) within 4 years prior to the filing of the initial complaint until trial for the California collective action. The class

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VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

complaint claims that the defendants failed to pay overtime compensation, to provide rest and meal periods, waiting time penalties and to provide accurate wage statements to the plaintiffs as required by federal and California law. It pleads seven causes of action against defendants: (1) Failure to pay overtime compensation in violation of the FLSA for unpaid overtime (nationwide class); (2) Failure to pay overtime compensation in violation of Cal. Lab. Code sections 510, 1194 and 1198 and IWC Wage Order No. 4; (3) Failure to pay waiting time penalties in violation of Cal. Lab. Code sections 201-203; (4) Failure to provide itemized wage statements in violation of Cal. Lab. Code section 226 and IWC Order No. 4; (5) Failure to provide and or authorize meal and rest periods in violation of Cal. Lab. Code section 226.7 and IWC Order No. 4; (6) Violation of California Business and Professions Code sections 17200 et seq; and (7) a Labor Code Private Attorney General Act (PAGA) Public enforcement claim, Cal. Lab. Code section 2699 (California class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, equitable and injunctive relief, interest, costs and attorneys’ fees.

On October 14, 2013, the Company received notice of a claim titled Dejan Nagl v. Interthinx Services, Inc. filed in the California Labor and Workforce Development Agency. The claimant, Dejan Nagl, a former mortgage auditor at the Company’s former subsidiary Interthinx, Inc. in California, filed the claim on behalf of himself and all current and former individuals employed in California as auditors by Interthinx, Inc. for violations of the California Labor Code and Wage Order. The claimant alleges on behalf of himself and other auditors the following causes of action: (1) Failure to provide rest breaks and meal periods in violation of Cal. Lab. Code sections 226.7, 514 and 1198; (2) Failure to pay overtime wages in violation of Cal. Lab. Code sections 510 and 1194; (3) Failure to provide accurate wage statements in violation of Cal. Lab. Code section 226; (4) Failure to timely pay wages in violation of Cal. Lab. Code section 204; and (5) Failures to timely pay wages for violations of Cal. Lab. Code sections 201- 203. The claim seeks compensatory damages and penalties that are associated with the various statutes, costs and attorneys’ fees.

On March 11, 2014, the Company sold 100 percent of the stock of Interthinx (see Note 6 Discontinued Operations for additional details). Pursuant to the terms of the sale agreement, the Company is responsible for the resolution of these matters. In October 2014, the parties agreed to a Joint Stipulation of Settlement and Release resolving the Shaw, Dehdashtian and Nagl matters which provides for a payment of $6,000, the majority of which is to be paid by insurance. The United States District Court for the District of Colorado granted Preliminary Approval of the Joint Stipulation of Settlement and Release on November 21, 2014 and scheduled the Final Fairness Hearing for April 3, 2015.

Mariah Re Litigation

On July 8, 2013, the Company was served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Mariah Re LTD. v. American Family Mutual Insurance Company, ISO Services, Inc. and AIR Worldwide Corporation, which was amended by the plaintiff on October 18, 2013 (the “Amended Complaint”). Plaintiff Mariah is a special purpose vehicle established to provide reinsurance to defendant American Family Insurance. Mariah entered into contracts with our ISO Services, Inc. and AIR Worldwide Corporation subsidiaries, pursuant to which, among other things, Mariah (i) licensed the right to utilize information published in Catastrophe Bulletins issued by the Property Claims Services division of ISO Services, Inc. and (ii) engaged AIR Worldwide Corporation as Calculation Agent to compute certain reinsured losses. The Amended Complaint alleges the following causes of action: (1) breach of contract against ISO Services, Inc, AIR Worldwide Corporation, and American Family; (2) unjust enrichment against American Family; (3) conversion against American Family; (4) tortious interference with contract against American Family; (5) declaratory judgment against all defendants and (6) specific performance against all defendants. The Amended Complaint seeks declaratory relief, specific performance, restitution, monetary damages and attorneys’ fees.

On November 20, 2013, the three defendants filed motions to dismiss the Amended Complaint.

On September 30, 2014, the District Court granted defendants’ motions and dismissed the Amended Complaint in its entirety, with prejudice. Mariah filed a Notice of Appeal on October 28, 2014. Briefing of the appeal was completed on February 13, 2015.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

MediConnect Global, Inc. Litigation

On October 11, 2013, the Company was served with a summons and complaint in an action titled Naveen Trehan v. MediConnect Global, Inc., Amy Anderson and Verisk Health, Inc. filed on October 9, 2013 in the United States District Court for the District of Utah. The complaint, brought by a former minority shareholder of the Company’s subsidiary, MediConnect Global, Inc., arises from MediConnect’s buyout of Naveen Trehan and his family members’ shares on October 15, 2010. Plaintiff claims

95

VERISK ANALYTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

that the sale of the shares was based on MediConnect’s representations concerning third parties that had expressed interest in an acquisition, merger or investment in MediConnect at that time. Plaintiff claims that MediConnect did not disclose the Company, which purchased MediConnect on March 23, 2012, as a possible suitor. The complaint alleges four causes of action: (1) Breach of fiduciary duty against MediConnect and Amy Anderson for failure to disclose the Company's interest in acquiring, merging with or investing in MediConnect prior to the buyout of his shares; (2) Fraud against  Amy Anderson and MediConnect for intentionally providing false information to plaintiff with the purpose of inducing him to agree to sell his shares at an artificially low price; (3) Negligent misrepresentation against Amy Anderson and MediConnect for their negligent failure to discover and disclose the Company's interest in acquiring MediConnect prior to the buyout of plaintiff’s shares and (4) a Violation of SEC Rule 10b-5 against Amy Anderson and MediConnect for defrauding plaintiff and failing to disclose material information in connection with the sale of securities.  The complaint seeks joint and several recovery from Amy Anderson and MediConnect for compensatory damages, punitive damages, and disgorgement of all profits earned through the investment of plaintiff’s funds, attorneys’ fees, interest and an order from the court that plaintiff’s funds be held in a constructive trust.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

Insurance Services Office, Inc. Litigation

In October 2013, the Company was served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Laurence J. Skelly and Ellen Burke v. Insurance Services Office, Inc. and the Pension Plan for Insurance Organizations. The plaintiffs, former employees of the Company's subsidiary Insurance Services Office, Inc. ("ISO"), bring the action on their own behalf as participants in the Pension Plan for Insurance Organizations and on the behalf of similarly situated participants of the pension plan and ask the court to declare that a certain amendment to the pension plan as of December 31, 2001, which terminated their right to calculate and define the value of their retirement benefit under the pension plan based on their compensation levels as of immediately prior to their “retirement” (the “Unlawful Amendment”), violated the anti-cutback provisions and equitable principles of ERISA. The First Amended Class Action Complaint (the “Amended Complaint”) alleges that (1) the Unlawful Amendment of the pension plan violated Section 502(a)(1)(B) of ERISA as well as the anti-cutback rules of ERISA Section 204(g) and Section 411(d)(6) of the Internal Revenue Code; (2) ISO’s failure to provide an ERISA 204(h) notice in a manner calculated to be understood by the average pension plan participant was a violation of Sections 204(h) and 102(a) of ERISA; and (3) the Living Pension Right was a contract right under ERISA common law and that by terminating that right through the Unlawful Amendment ISO violated plaintiffs’ common law contract rights under ERISA. The Amended Complaint seeks declaratory, equitable and injunctive relief enjoining the enforcement of the Unlawful Amendment and ordering the pension plan and ISO retroactive to the date of the Unlawful Amendment to recalculate the accrued benefits of all class members, indemnification from ISO to the pension plan for costs and contribution requirements related to voiding the Unlawful Amendment, bonuses to the class representatives, costs and attorney’s fees. On September 12, 2014, the District Court granted ISO’s motion to dismiss the Amended Complaint finding that ISO provided ample, clear and sufficient notice of the 2002 Amendment to the Plan and that plaintiffs’ claims were time barred. Plaintiffs filed their Notice of Appeal on October 14, 2014 and all briefing of the appeal is complete.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

On August 1, 2014 the Company was served with an Amended Complaint filed in the United States District Court for the District of Colorado titled Snyder, et. al. v. ACORD Corp., et al. The action is brought by nineteen individual plaintiffs, on their own behalf and on behalf of a putative class, against more than 120 defendants, including the Company and its subsidiary, Insurance Services Office, Inc. ("ISO"). Except for the Company, ISO and the defendant Acord Corporation, which provides standard forms to assist in insurance transactions, most of the other defendants are property and casualty insurance companies that plaintiffs claim conspired to underpay property damage claims. Plaintiffs claim that the Company and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law. On September 8, 2014, the Court entered an Order striking the Amended Complaint and granting leave to the plaintiffs to file a new complaint. On October 13, 2014, plaintiffs filed their Second Amended Complaint that continues to allege that the defendants conspired to underpay property damage claims, but does not specifically allege what role the Company or ISO played in the alleged conspiracy. The Second Amended Complaint similarly alleges that the Company and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law, and seeks all available relief including, injunctive, statutory, actual and punitive damages as well as attorneys’ fees.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

96

21.    Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries

In 2013 and 2012, the Parent Company registered senior notes with full and unconditional and joint and several guarantees by certain of its 100 percent wholly-owned subsidiaries and issued certain other debt securities with full and unconditional and joint and several guarantees by certain of its subsidiaries. Accordingly, presented below is condensed consolidating financial information for (i) the Parent Company, (ii) the guarantor subsidiaries of the Parent Company on a combined basis, and (iii) all other non-guarantor subsidiaries of the Parent Company on a combined basis, as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012. The condensed consolidating financial information has been presented using the equity method of accounting, to show the nature of assets held, results of operations, comprehensive income and cash flows of the Parent Company, the guarantor subsidiaries and the non-guarantor subsidiaries assuming all guarantor subsidiaries provide both full and unconditional, and joint and several, guarantees to the Parent Company at the beginning of the periods presented. Effective as of December 31, 2014, ISO Strategic Solutions, ("ISOST"), a non-guarantor of the senior notes, merged with and into Insurance Services Office, Inc. ("ISO"), a guarantor of the senior notes, pursuant to which ISO is the surviving corporation and remains a guarantor of the senior notes. As a result, the condensed consolidated balance sheet of ISOST at December 31, 2014 was reclassified from the financial information of the non-guarantor subsidiaries to that of the guarantor subsidiaries. On March 11, 2014, the Company sold 100% of the stock of Company’s mortgage services business, Interthinx, Inc., a guarantor of the senior notes.  Upon the sale, Interthinx, Inc. was relieved of all its guarantees of the senior notes. Effective as of December 31, 2013, Verisk Health, Inc. and Verisk Health Solutions, Inc., guarantors of the senior notes, merged with and into Bloodhound Technologies, Inc. ("Bloodhound"), a non-guarantor of the senior notes, pursuant to which Verisk Health, Inc. (formerly Bloodhound) was the surviving corporation. By virtue of the merger, the surviving corporation of Verisk Health, Inc. expressly assumed all of the obligations of the former Verisk Health, Inc. and Verisk Health Solutions, Inc., including the guarantee by them of the senior notes. As a result, the condensed consolidated balance sheet of the former Bloodhound subsidiary at December 31, 2013 was reclassified from the financial information of the non-guarantor subsidiaries to that of the guarantor subsidiaries.

97

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

	Verisk Analytics,  Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	330	$	4,131	$	34,898	$	—		$	39,359
Available-for-sale securities		—		3,801		—		—			3,801
Accounts receivable, net		—		148,944		71,724		—			220,668
Prepaid expenses		—		27,433		4,063		—			31,496
Deferred income taxes, net		—		3,334		1,438		—			4,772
Income taxes receivable		20,180		71,376		—		(26,044	)		65,512
Intercompany receivables		706,138		1,250,827		194,565		(2,151,530	)		—
Other current assets		5,147		13,352		376		—			18,875
Total current assets		731,795		1,523,198		307,064		(2,177,574	)		384,483
Noncurrent assets:
Fixed assets, net		—		258,238		44,035		—			302,273
Intangible assets, net		—		58,887		347,589		—			406,476
Goodwill		—		498,075		709,071		—			1,207,146
Investment in subsidiaries		1,772,222		909,565		—		(2,681,787	)		—
Pension assets		—		18,589		—		—			18,589
Other assets		6,684		18,918		761		—			26,363
Total assets	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	14,220	$	120,058	$	46,448	$	—		$	180,726
Short-term debt and current portion of long-term debt		—		335,993		65		—			336,058
Pension and postretirement benefits, current		—		1,894		—		—			1,894
Fees received in advance		—		212,765		39,827		—			252,592
Intercompany payables		1,239,590		888,752		23,188		(2,151,530	)		—
Income taxes payable		—		—		26,044		(26,044	)		—
Total current liabilities		1,253,810		1,559,462		135,572		(2,177,574	)		771,270
Noncurrent liabilities:
Long-term debt		1,045,848		54,729		297		—			1,100,874
Pension and postretirement benefits		—		16,215		—		—			16,215
Deferred income taxes, net		—		82,340		120,200		—			202,540
Other liabilities		—		40,795		2,593		—			43,388
Total liabilities		2,299,658		1,753,541		258,662		(2,177,574	)		2,134,287
Total stockholders’ equity		211,043		1,531,929		1,149,858		(2,681,787	)		211,043
Total liabilities and stockholders’ equity	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330

98

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2013

	Verisk Analytics, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	20,226	$	81,095	$	64,480	$	—		$	165,801
Available-for-sale securities		—		3,911		—		—			3,911
Accounts receivable, net		—		99,578		58,969		—			158,547
Prepaid expenses		—		22,582		3,075		—			25,657
Deferred income taxes, net		—		—		5,086		(9	)		5,077
Income taxes receivable		20,045		66,274		—		(18,973	)		67,346
Intercompany receivables		633,128		525,286		202,018		(1,360,432	)		—
Other current assets		5,144		26,835		2,702		—			34,681
Current assets held-for-sale		—		12,421		883		521			13,825
Total current assets		678,543		837,982		337,213		(1,378,893	)		474,845
Noncurrent assets:
Fixed assets, net		—		198,112		35,261		—			233,373
Intangible assets, net		—		67,407		380,211		—			447,618
Goodwill		—		493,053		688,628		—			1,181,681
Investment in subsidiaries		1,375,128		848,124		—		(2,223,252	)		—
Pension assets		—		60,955		—		—			60,955
Other assets		7,789		11,356		889		—			20,034
Noncurrent assets held-for-sale		—		85,945		—		—			85,945
Total assets	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	22,233	$	102,477	$	63,554	$	—		$	188,264
Short-term debt and current portion of long-term debt		—		4,341		107		—			4,448
Pension and postretirement benefits, current		—		2,437		—		—			2,437
Fees received in advance		—		192,524		34,057		—			226,581
Intercompany payables		446,509		793,517		120,406		(1,360,432	)		—
Deferred income taxes, net		—		9		—		(9	)		—
Income taxes payable		—		—		18,973		(18,973	)		—
Current liabilities held-for-sale		—		8,928		—		521			9,449
Total current liabilities		468,742		1,104,233		237,097		(1,378,893	)		431,179
Noncurrent liabilities:
Long-term debt		1,045,129		225,950		360		—			1,271,439
Pension and postretirement benefits		—		15,068		—		—			15,068
Deferred income taxes, net		—		70,897		127,707		—			198,604
Other liabilities		—		31,809		4,234		—			36,043
Noncurrent liabilities held-for-sale		—		4,529		—		—			4,529
Total liabilities		1,513,871		1,452,486		369,398		(1,378,893	)		1,956,862
Total stockholders’ equity		547,589		1,150,448		1,072,804		(2,223,252	)		547,589
Total liabilities and stockholders’ equity	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451

99

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2014

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,440,093		$	357,249		$	(50,616	)	$	1,746,726
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			568,858			189,507			(41,767	)		716,598
Selling, general and administrative		—			186,937			49,218			(8,849	)		227,306
Depreciation and amortization of fixed assets		—			72,254			13,252			—			85,506
Amortization of intangible assets		—			10,085			46,785			—			56,870
Total expenses		—			838,134			298,762			(50,616	)		1,086,280
Operating income		—			601,959			58,487			—			660,446
Other income (expense):
Investment income and others		51			398			(291	)		—			158
Interest expense		(54,550	)		(15,401	)		(33	)		—			(69,984	)
Total other expense, net		(54,499	)		(15,003	)		(324	)		—			(69,826	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,499	)		586,956			58,163			—			590,620
Provision for income taxes		20,180			(222,147	)		(17,788	)		—			(219,755	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,319	)		364,809			40,375			—			370,865
Income (loss) from discontinued operations, net of tax		—			29,322			(145	)		—			29,177
Equity in net income of subsidiaries		434,361			32,532			—			(466,893	)		—
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042

100

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,259,884		$	355,165		$	(19,346	)	$	1,595,703
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			451,393			179,196			(8,066	)		622,523
Selling, general and administrative		1			183,717			56,544			(11,280	)		228,982
Depreciation and amortization of fixed assets		—			52,248			13,942			—			66,190
Amortization of intangible assets		—			13,593			50,148			—			63,741
Total expenses		1			700,951			299,830			(19,346	)		981,436
Operating (loss) income		(1	)		558,933			55,335			—			614,267
Other income (expense):
Investment income and others		43			636			(70	)		—			609
Interest expense		(54,551	)		(21,571	)		(14	)		—			(76,136	)
Total other expense, net		(54,508	)		(20,935	)		(84	)		—			(75,527	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,509	)		537,998			55,251			—			538,740
Provision for income taxes		20,045			(198,464	)		(18,007	)		—			(196,426	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,464	)		339,534			37,244			—			342,314
Income (loss) from discontinued operations, net of tax		—			6,230			(164	)		—			6,066
Equity in net income of subsidiaries		382,844			29,262			—			(412,106	)		—
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380

101

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,162,134		$	266,427		$	(20,713	)	$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			401,724			125,111			(10,127	)		516,708
Selling, general and administrative		—			174,324			56,330			(10,586	)		220,068
Depreciation and amortization of fixed assets		—			36,898			9,739			—			46,637
Amortization of intangible assets		—			17,943			34,264			—			52,207
Total expenses		—			630,889			225,444			(20,713	)		835,620
Operating income		—			531,245			40,983			—			572,228
Other income (expense):
Investment income and others		44			(130	)		192			—			106
Interest expense		(42,848	)		(29,619	)		(41	)		—			(72,508	)
Total other (expense) income, net		(42,804	)		(29,749	)		151			—			(72,402	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(42,804	)		501,496			41,134			—			499,826
Provision for income taxes		15,833			(183,025	)		(15,171	)		—			(182,363	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(26,971	)		318,471			25,963			—			317,463
Income from discontinued operations, net of tax		—			11,679			—			—			11,679
Equity in net income of subsidiaries		356,113			19,159			—			(375,272	)		—
Net income	$	329,142		$	349,309		$	25,963		$	(375,272	)	$	329,142

102

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For The Years Ended December 31, 2014, 2013 and 2012

	December 31, 2014
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(1,286	)		(589	)		(697	)		1,286			(1,286	)
Unrealized holding loss on available-for-sale securities		(35	)		(35	)		—			35			(35	)
Pension and postretirement adjustment		(35,705	)		(35,705	)		—			35,705			(35,705	)
Total other comprehensive loss		(37,026	)		(36,329	)		(697	)		37,026			(37,026	)
Comprehensive income	$	363,016		$	390,334		$	39,533		$	(429,867	)	$	363,016

	December 31, 2013
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(840	)		(778	)		(99	)		877			(840	)
Unrealized holding loss on available-for-sale securities		(147	)		(147	)		—			147			(147	)
Pension and postretirement adjustment		46,659			46,659			—			(46,659	)		46,659
Total other comprehensive income (loss)		45,672			45,734			(99	)		(45,635	)		45,672
Comprehensive income	$	394,052		$	420,760		$	36,981		$	(457,741	)	$	394,052

	December 31, 2012
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
Net income	$	329,142		$	349,309		$	25,963	$	(375,272	)	$	329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		15			172			46		(218	)		15
Unrealized holding loss on available-for-sale securities		(197	)		(197	)		—		197			(197	)
Pension and postretirement adjustment		(10,691	)		(10,691	)		—		10,691			(10,691	)
Total other comprehensive (loss) income		(10,873	)		(10,716	)		46		10,670			(10,873	)
Comprehensive income	$	318,269		$	338,593		$	26,009	$	(364,602	)	$	318,269

103

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2014

		Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
		(In thousands)
Net cash provided by operating activities	$	104		$	336,094		$	153,254		$	—		$	489,452
Cash flows from investing activities:
Acquisitions, net of cash acquired of $304		—			(5,051	)		(30,141	)		—			(35,192	)
Purchase of non-controlling equity investments in non-public companies		—			(5,000	)		—			—			(5,000	)
Proceeds from sale of subsidiary		—			151,170			—			—			151,170
Investment in subsidiaries		—			(30,609	)		—			30,609			—
Intercompany dividends received from subsidiaries		—			114			—			(114	)		—
Repayments received from other subsidiaries		20,000			224,447			19,289			(263,736	)		—
Advances provided to other subsidiaries		—			(5,075	)		—			5,075			—
Capital expenditures		—			(124,513	)		(22,305	)		—			(146,818	)
Purchases of available-for-sale securities		—			(203	)		—			—			(203	)
Proceeds from sales and maturities of available-for-sale securities		—			513			—			—			513
Net cash provided by (used in) investing activities		20,000			205,793			(33,157	)		(228,166	)		(35,530	)
Cash flows from financing activities:
Proceeds from short-term debt, net		—			160,000			—			—			160,000
Proceeds from issuance of intercompany common stock		—			—			30,609			(30,609	)		—
Intercompany dividends paid to subsidiaries		—			—			(114	)		114			—
Repurchases of Class A common stock		—			(778,484	)		—			—			(778,484	)
Repayments of advances to other subsidiaries		(40,000	)		(39,289	)		(184,447	)		263,736			—
Advances received from other subsidiaries		—			—			5,075			(5,075	)		—
Payment of debt issuance costs		—			(465	)		—			—			(465	)
Excess tax benefits from exercised stock options		—			22,566			—			—			22,566
Proceeds from stock options exercised		—			24,648			—			—			24,648
Net share settlement of taxes from restricted stock awards		—			(1,625	)		—			—			(1,625	)
Other financing activities, net		—			(5,613	)		(105	)		—			(5,718	)
Net cash used in financing activities		(40,000	)		(618,262	)		(148,982	)		228,166			(579,078	)
Effect of exchange rate changes		—			(589	)		(697	)		—			(1,286	)
Decrease in cash and cash equivalents		(19,896	)		(76,964	)		(29,582	)		—			(126,442	)
Cash and cash equivalents, beginning of period		20,226			81,095			64,480			—			165,801
Cash and cash equivalents, end of period	$	330		$	4,131		$	34,898		$	—		$	39,359
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	778,484		$	778,484		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	24,648		$	24,648		$	—		$	—		$	—

104

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash provided by operating activities	$	42		$	287,956		$	218,922		$	—		$	506,920
Cash flows from investing activities:
Acquisitions		—			(983	)		—			—			(983	)
Investment in subsidiaries		—			(350	)		—			350			—
Proceeds from release of acquisition related escrows		66			214			—			—			280
Repayments received from other subsidiaries		—			206,282			9,605			(215,887	)		—
Advances provided to other subsidiaries		(30,000	)		(68,692	)		—			98,692			—
Capital expenditures		—			(118,307	)		(27,669	)		—			(145,976	)
Purchases of available-for-sale securities		—			(5,870	)		—			—			(5,870	)
Proceeds from sales and maturities of available-for-sale securities		—			7,484			—			—			7,484
Other investing, net		—			(561	)		—			—			(561	)
Net cash (used in) provided by investing activities		(29,934	)		19,217			(18,064	)		(116,845	)		(145,626	)
Cash flows from financing activities:
Repayment of current portion of long-term debt		—			(180,000	)		—			—			(180,000	)
Repayments of short-term debt, net		—			(10,000	)		—			—			(10,000	)
Proceeds from issuance of common stock		—			—			350			(350	)		—
Repurchases of Class A common stock		—			(277,411	)		—			—			(277,411	)
Transfer of cash due to the Verisk Health, Inc. merger		—			2,877			(2,877	)		—			—
Repayments of advances to other subsidiaries		(10,010	)		(9,605	)		(196,272	)		215,887			—
Advances received from other subsidiaries		60,000			30,000			8,692			(98,692	)		—
Payment of debt issuance costs		—			(605	)		—			—			(605	)
Excess tax benefits from exercised stock options		—			109,946			—			—			109,946
Proceeds from stock options exercised		—			80,368			—			—			80,368
Other financing activities, net		—			(6,478	)		(292	)		—			(6,770	)
Net cash provided by (used in) financing activities		49,990			(260,908	)		(190,399	)		116,845			(284,472	)
Effect of exchange rate changes		—			(741	)		(99	)		—			(840	)
Increase in cash and cash equivalents		20,098			45,524			10,360			—			75,982
Cash and cash equivalents, beginning of period		128			35,571			54,120			—			89,819
Cash and cash equivalents, end of period	$	20,226		$	81,095		$	64,480		$	—		$	165,801
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	277,411		$	277,411		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	80,368		$	80,368		$	—		$	—		$	—
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.	$	—		$	85,953		$	(85,953	)	$	—		$	—

105

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(20,115	)	$	329,845		$	158,499		$	—		$	468,229
Cash flows from investing activities:
Acquisitions, net of cash acquired of $36,113		—			(762,596	)		(6,917	)		—			(769,513	)
Purchase of non-controlling equity investments in non-public companies		(250	)		(2,000	)		—			—			(2,250	)
Earnout payments		—			—			(250	)		—			(250	)
Escrow funding associated with acquisitions		—			(38,000	)		(800	)		—			(38,800	)
Proceeds from release of acquisition related escrows		—			1,455			—			—			1,455
Repayments received from other subsidiaries		19,400			592,356			—			(611,756	)		—
Advances provided to other subsidiaries		—			(52,000	)		—			52,000			—
Capital expenditures		—			(60,525	)		(13,848	)		—			(74,373	)
Purchases of available-for-sale securities		—			(1,784	)		—			—			(1,784	)
Proceeds from sales and maturities of available-for-sale securities		—			1,932			—			—			1,932
Net cash provided by (used in) investing activities		19,150			(321,162	)		(21,815	)		(559,756	)		(883,583	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of original issue discount		347,224			—			—			—			347,224
Repayment of short-term debt refinanced on a long-term basis		—			(347,224	)		—			—			(347,224	)
Proceeds from short-term debt, net		—			357,224			—			—			357,224
Payment of debt issuance costs		(2,557	)		(1,348	)		—			—			(3,905	)
Repurchases of Class A common stock		—			(162,275	)		—			—			(162,275	)
Repayments of advances provided to other subsidiaries		(419,812	)		(19,400	)		(172,544	)		611,756			—
Advances received from other subsidiaries		—			—			52,000			(52,000	)		—
Excess tax benefits from exercised stock options		—			60,672			—			—			60,672
Proceeds from stock options exercised		—			68,388			—			—			68,388
Other financing activities, net		—			(5,931	)		(618	)		—			(6,549	)
Net cash used in financing activities		(75,145	)		(49,894	)		(121,162	)		559,756			313,555
Effect of exchange rate changes		—			(31	)		46			—			15
(Decrease) increase in cash and cash equivalents		(76,110	)		(41,242	)		15,568			—			(101,784	)
Cash and cash equivalents, beginning of period		76,238			76,813			38,552			—			191,603
Cash and cash equivalents, end of period	$	128		$	35,571		$	54,120		$	—		$	89,819
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO	$	17,000		$	790,174		$	773,174		$	—		$	—
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	162,275		$	162,275		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	68,388		$	68,388		$	—		$	—		$	—

**************

106

Schedule II

Valuation and Qualifying Accounts and Reserves

For the Years Ended December 31, 2014, 2013 and 2012

(In thousands)

Description		Balance at Beginning of Year		Charged to Expenses (1)		Deductions— Write-offs(2)			Adjustment (3)			Balance at End of Year
Year ended December 31, 2014
Allowance for doubtful accounts	$	4,415	$	1,814	$	(161	)	$	(73	)	$	5,995
Valuation allowance for income taxes	$	741	$	48	$	—		$	—		$	789
Year ended December 31, 2013
Allowance for doubtful accounts	$	4,753	$	2,468	$	(2,284	)	$	(522	)	$	4,415
Valuation allowance for income taxes	$	595	$	673	$	(527	)	$	—		$	741
Year Ended December 31, 2012
Allowance for doubtful accounts	$	4,158	$	1,065	$	(470	)	$	—		$	4,753
Valuation allowance for income taxes	$	1,615	$	73	$	(1,093	)	$	—		$	595

(1) Primarily additional reserves for bad debts

(2) Primarily accounts receivable balances written off, net of recoveries, and the expiration of loss carryforwards

(3) Related to discontinued operations

107

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on February 24, 2015.

VERISK ANALYTICS, INC.

(Registrant)

/S/    Scott G. Stephenson

Scott G. Stephenson

President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on February 24, 2015.

Signature	Capacity
/S/    SCOTT G. STEPHENSON	President and Chief Executive Officer (principal executive officer and director)
Scott G. Stephenson
/S/    MARK V. ANQUILLARE	Executive Vice President and Chief Financial Officer (principal financial officer and principal accounting officer)
Mark V. Anquillare
/S/    FRANK J. COYNE	Non- Executive Chairman of the Board of Directors
Frank J. Coyne
/S/    J. HYATT BROWN	Director
J. Hyatt Brown
/S/    GLEN A. DELL	Director
Glen A. Dell
/S/    CHRISTOPHER M. FOSKETT	Director
Christopher M. Foskett
/S/    CONSTANTINE P. IORDANOU	Director
Constantine P. Iordanou
/S/    JOHN F. LEHMAN, JR.	Director
John F. Lehman, Jr.
/S/    SAMUEL G. LISS	Director
Samuel G. Liss
/S/    ANDREW G. MILLS	Director
Andrew G. Mills
/S/    THOMAS F. MOTAMED	Director
Thomas F. Motamed
/S/    THERESE M. VAUGHAN	Director
Therese M. Vaughan
/S/    DAVID B. WRIGHT	Director
David B. Wright

108

EXHIBIT INDEX

Exhibit Number	Description
3.1	Amended and Restated Certificate of Incorporation, incorporated herein by reference to Exhibit 3.1 to Amendment No. 6 to the Company’s Registration Statement on Form S-1, dated September 21, 2009.
3.2	Amended and Restated By-Laws, incorporated herein by reference to Exhibit 3.2 to Amendment No. 6 to the Company’s Registration Statement on Form S-1, dated September 21, 2009.
4.1	Form of Common Stock Certificate, incorporated herein by reference to Exhibit 4.1 to Amendment No. 6 to the Company’s Registration Statement on Form S-1, dated September 21, 2009.
4.2	Prudential Uncommitted Master Shelf Agreement, dated as of June 13, 2003, among Insurance Services Office, Inc., The Prudential Insurance Company of America, U.S. Private Placement Fund, Baystate Investments, LLC, United of Omaha Life Insurance Company and Prudential Investment Management, Inc., incorporated herein by reference to Exhibit 4.2 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.3	Amendment No. 1 to the Prudential Uncommitted Master Shelf Agreement, dated February 1, 2005, among Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated herein by reference to Exhibit 4.3 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.4	Amendment No. 2 to the Prudential Uncommitted Master Shelf Agreement, dated June 1, 2005, among Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated herein by reference to Exhibit 4.4 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.5	Amendment No. 3 to the Prudential Uncommitted Master Shelf Agreement, dated January 23, 2006, among Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated herein by reference to Exhibit 4.5 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.6	Waiver and Amendment No. 4 to the Prudential Uncommitted Master Shelf Agreement, dated February 28, 2007, among Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated herein by reference to Exhibit 4.6 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.7	Amendment No. 5 to the Prudential Uncommitted Master Shelf Agreement, dated August 30, 2010, among Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated by reference to Exhibit 4.8 to the Company’s Registration Statement on Form S-1, dated September 16, 2010.
4.8	Waiver, Consent and Amendment No. 6 to the Prudential Uncommitted Master Shelf Agreement, dated March 28, 2011, among Verisk Analytics, Inc., Insurance Services Office, Inc., The Prudential Insurance Company of America, Prudential Investment Management, Inc. and the other purchasers party thereto, incorporated by reference to Exhibit 4.10 to the Company’s Registration Statement on Form S-3, dated March 29, 2011.

109

Exhibit Number	Description
4.9	New York Life Uncommitted Master Shelf Agreement, dated as of March 16, 2007, among Insurance Services Office, Inc., New York Life Insurance Company and the other purchasers party thereto, incorporated herein by reference to Exhibit 4.7 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
4.10	Waiver, Consent and Amendment No. 2 to the New York Life Uncommitted Master Shelf Agreement, dated March 28, 2011, among Verisk Analytics, Inc., Insurance Services Office, Inc., New York Life Insurance Company and the other purchasers party thereto, incorporated by reference to Exhibit 4.11 to the Company’s Registration Statement on Form S-3, dated March 29, 2011.
4.11	Third Amended and Restated Sharing Agreement, dated as of March 28, 2011, among Bank of America, N.A., as administrative agent, and the other Lenders party thereto, incorporated by reference to Exhibit 4.12 to the Company’s Registration Statement on Form S-3, dated March 29, 2011.
4.12	Senior Notes Indenture, dated as of April 6, 2011, among Verisk Analytics, Inc., the guarantors named therein and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K, dated April 6, 2011.
4.13	First Supplemental Indenture, dated as of April 6, 2011, among Verisk Analytics, Inc., the guarantors named therein and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K, dated April 6, 2011.
4.14	Second Supplemental Indenture, dated as of December 8, 2011, among Verisk Analytics, Inc., the guarantors named therein and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K, dated December 8, 2011.
4.15	Third Supplemental Indenture, dated as of September 12, 2012, among Verisk Analytics, Inc., the guarantors named therein and Wells Fargo Bank, National Association, as Trustee, incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K, dated September 12, 2012.
10.1	401(k) Savings Plan and Employee Stock Ownership Plan, incorporated herein by reference to Exhibit 10.1 to the Company’s Registration Statement on Form S-1, dated August 12, 2008.
10.2	Verisk Analytics, Inc. 2009 Equity Incentive Plan, incorporated herein by reference to Exhibit 10.2 to Amendment No. 6 to the Company’s Registration Statement on Form S-1, dated September 21, 2009.
10.3	Form of Letter Agreement, incorporated herein by reference to Exhibit 10.3 to Amendment No. 1 to the Company’s Registration Statement on Form S-1, dated October 7, 2008.
10.4	Form of Master License Agreement and Participation Supplement, incorporated herein by reference to Exhibit 10.4 to Amendment No. 1 to the Company’s Registration Statement on Form S-1, dated October 7, 2008.
10.5	Schedule of Master License Agreements Substantially Identical in All Material Respects to the Form of Master License Agreement and Participation Supplement, incorporated herein by reference to Exhibit 10.5 to Amendment No. 2 to the Company’s Registration Statement on Form S-1, dated November 20, 2008.
10.6	Amended and Restated Credit Agreement dated October 25, 2011 among Verisk Analytics, Inc., as co-borrower, Insurance Services Office, Inc., as co-borrower, the guarantors party thereto, and the lenders party thereto, incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated October 26, 2011.

110

Exhibit Number	Description
10.7	Form of Change of Control Severance Agreement, incorporated herein by reference to Exhibit 10.8 to Amendment No. 6 to the Company’s Registration Statement on Form S-1, dated September 21, 2009.
10.8	Insurance Services Office, Inc. 1996 Incentive Plan and Form of Stock Option Agreement thereunder, incorporated herein by reference to Exhibit 10.9 to Amendment No. 7 to the Company’s Registration Statement on Form S-1, dated September 29, 2009.
10.9	Form of Stock Option Award Agreement under the Verisk Analytics, Inc. 2009 Equity Incentive Plan, incorporated herein by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q, dated November 16, 2009.
10.10	First Amendment dated September 28, 2012 to the Amended and Restated Credit Agreement dated October 25, 2011 among Verisk Analytics, Inc., as co-borrower, Insurance Services Office, Inc., as co-borrower, the guarantors party thereto, and the lenders and agents party thereto, incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K, dated September 28, 2012.
10.11	Second Amendment dated October 25, 2013 to the Amended and Restated Credit Agreement dated October 25, 2011 among Verisk Analytics, Inc., as co-borrower, Insurance Services Office, Inc., as co-borrower, the guarantors party thereto, and the lenders and agents party thereto, incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, dated October 28, 2013.
10.12	Third Amendment dated October 21, 2014 to the Amended and Restated Credit Agreement dated October 25, 2011 among Verisk Analytics, Inc., as co-borrower, Insurance Services Office, Inc., a co-borrower, the guarantors party thereto, and the lenders and agents party thereto, incorporated herein by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, dated October 21, 2014.
10.13	Insurance Services Office, Inc. Supplemental Cash Balance Plan dated January 1, 2009 as amended by the Amendment to the Insurance Services Office, Inc. Supplemental Cash Balance Plan dated February 10, 2012 incorporated by reference to Exhibit 10.13 to the Company's annual report on Form 10-K dated February 25, 2014
10.14	Insurance Services Office, Inc. Supplemental Executive Retirement Savings Plan dated January 1, 2009 incorporated by reference to Exhibit 10.14 to the Company's annual report on Form 10-K dated February 25, 2014
10.15	Verisk Analytics, Inc. 2013 Equity Incentive Plan, incorporated herein by reference to Appendix A to the Company's Proxy Statement on Schedule 14A, dated April 1, 2013.
10.16	Form of Stock Option Award Agreement under Verisk Analytics, Inc. 2013 Equity Incentive Plan, incorporated herein by reference to Exhibit 99.2 to Company’s Registration Statement on Form S-8 dated May 15, 2013.
10.17	Form of Restricted Stock Award Agreement under Verisk Analytics, Inc. 2013 Equity Incentive Plan, incorporated herein by reference to Exhibit 99.3 to Company’s Registration Statement on Form S-8 dated May 15, 2013.
21.1	Subsidiaries of the Registrant incorporated by reference to Exhibit 21.1 to the Company's annual report on Form 10-K dated February 25, 2014
23.1	Consent of Deloitte & Touche LLP.*
31.1	Certification of the Chief Executive Officer of Verisk Analytics, Inc. pursuant to Rule 13a-14 under the Securities Exchange Act of 1934.*
31.2	Certification of the Chief Financial Officer of Verisk Analytics, Inc. pursuant to Rule 13a-14 under the Securities Exchange Act of 1934.*

111

32.1	Certification of the Chief Executive Officer and Chief Financial Officer of Verisk Analytics, Inc. pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*
Exhibit Number	Description
101.INS	XBRL Instance Document.*
101.SCH	XBRL Taxonomy Extension Schema.*
101.CAL	XBRL Taxonomy Extension Calculation Linkbase.*
101.DEF	XBRL Taxonomy Definition Linkbase.*
101.LAB	XBRL Taxonomy Extension Label Linkbase.*
101.PRE	XBRL Taxonomy Extension Presentation Linkbase.*

* Filed herewith.

112

EX-23.1

Exhibit 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in Registration Statement No. 333-194874 on Form S-3, and Nos. 333-188629, 333-183476, and 333-165912 on Form S-8 of our reports dated February 24, 2015, relating to the consolidated financial statements and financial statement schedule of Verisk Analytics, Inc. (the “Company”) and the effectiveness of the Company’s internal control over financial reporting, appearing in this Annual Report on Form 10-K of the Company for the year ended December 31, 2014.

/s/ Deloitte & Touche LLP

Parsippany, New Jersey

February 24, 2015

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Scott G. Stephenson, certify that:

1. I have reviewed this annual report on Form 10-K of Verisk Analytics, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Scott G. Stephenson

Scott G. Stephenson

President

and Chief Executive Officer

Date: February 24, 2015

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Mark V. Anquillare, certify that:

1. I have reviewed this annual report on Form 10-K of Verisk Analytics, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Mark V. Anquillare

Mark V. Anquillare

Executive Vice President

and Chief Financial Officer

Date: February 24, 2015

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The certification set forth below is being submitted in connection with the annual report on Form 10-K of Verisk Analytics, Inc. (the “Company”) for the year ending December 31, 2014, as filed with the Securities and Exchange Commission (the “Report”), for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Section 1350 of Chapter 63 of Title 18 of the United States Code.

Scott G. Stephenson, the Chief Executive Officer of the Company, and Mark V. Anquillare, the Chief Financial Officer of the Company, each hereby certifies that, to the best of his knowledge:

1. the Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	/s/ Scott G. Stephenson
	Scott G. Stephenson
	President and Chief Executive Officer
Date: February 24, 2015
	/s/ Mark V. Anquillare
	Mark V. Anquillare
	Executive Vice President and Chief Financial Officer

XML

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Schedule Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following table summarizes the results from the discontinued operation for the years ended December 31:

	2014			2013			2012
Revenues from discontinued operations	$	11,512		$	109,151		$	126,472
Income from discontinued operations before income taxes (including gain on sale of $65,410 in 2014)		54,482			10,819			19,382
Provision for income taxes (including tax on the gain on sale in 2014)		(25,305	)		(4,753	)		(7,703	)
Income from discontinued operations, net of tax	$	29,177		$	6,066		$	11,679

The following table summarizes the assets held-for-sale and the liabilities held-for-sale as of December 31, 2013:

Accounts receivable, net	$	15,295
Income taxes payable		(3,005	)
Other current assets		1,535
Total current assets held-for-sale	$	13,825
Fixed assets, net	$	7,670
Intangible assets, net		9,018
Goodwill		69,207
Other assets		50
Total noncurrent assets held-for-sale	$	85,945
Accounts payable and accrued liabilities	$	8,272
Fees received in advance		1,177
Total current liabilities held-for-sale	$	9,449
Deferred income taxes, net	$	3,975
Other liabilities		554
Total noncurrent liabilities held-for-sale	$	4,529

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Schedule II - Valuation and Qualifying Accounts and Reserves (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Allowance for doubtful accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 4,415		$ 4,753		$ 4,158
Charged to Expenses / Against Revenue	1,814	[1]	2,468	[1]	1,065	[1]
Deductions - Write-offs	(161)	[2]	(2,284)	[2]	(470)	[2]
Adjustment	(73)	[3]	(522)	[3]	0	[3]
Balance at End of Year	5,995		4,415		4,753
Valuation allowance for income taxes [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	741		595		1,615
Charged to Expenses / Against Revenue	48	[1]	673	[1]	73	[1]
Deductions - Write-offs	0	[2]	(527)	[2]	(1,093)	[2]
Adjustment	0	[3]	0	[3]	0	[3]
Balance at End of Year	$ 789		$ 741		$ 595

[1] Primarily additional reserves for bad debts

[2] Primarily accounts receivable balances written off, net of recoveries, and the expiration of loss carryforwards

[3] Related to discontinued operations

XML

Investments - Summary of Available-for-Sale Securities (Detail) (Registered investment companies [Member], USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Registered investment companies [Member]
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Adjusted Cost	$ 4,045	$ 4,098
Gross Unrealized Loss	(244)	(187)
Fair Value	$ 3,801	$ 3,911

XML

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Minimum Rentals under Long Term Noncancelable Leases for All Leased Premises, Computer Equipment and Automobiles

Approximate minimum rentals under long-term noncancelable leases for all leased premises, computer equipment and automobiles are as follows:

Years Ending	Operating Leases		Capital Leases
2015	$	37,958	$	6,295
2016		38,506		4,076
2017		37,350		791
2018		29,074		181
2019		31,775		59
2020 and thereafter		260,033		85
Net minimum lease payments	$	434,696		11,487
Less amount representing interest				403
Present value of net minimum lease capital payments			$	11,084

XML

Income Taxes - Provision for Income Taxes (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal and foreign	$ 169,153	$ 135,215	$ 111,713
State and local	26,333	18,764	8,442
Total current provision for income taxes	195,486	153,979	120,155
Deferred:
Federal and foreign	27,009	38,160	56,036
State and local	(2,740)	4,287	6,172
Total deferred provision for income taxes	24,269	42,447	62,208
Provision for income taxes	$ 219,755	$ 196,426	$ 182,363

XML

Investments - Realized Gain/(Loss) on Securities, Net (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]
Gross realized gain on sale of registered investment securities	$ 285	$ 966	$ 420
Other-than-temporary impairment of registered investment securities	(28)	(84)	(74)
Other-than-temporary impairment of non-controlling interest in non-public companies	0	(974)	(678)
Realized gain (loss) on securities, net	$ 257	$ (92)	$ (332)

XML

Debt - Short-Term and Long-Term Debt (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 12, 2012	Dec. 08, 2011	Apr. 06, 2011
Debt Instrument [Line Items]
Long-term debt, current maturities	336,058	$ 4,448
Capital lease obligations and other	5,026	6,310
Long-term debt	1,100,874	1,271,439
Total debt	1,436,932	1,275,887
Prudential senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Aug. 30, 2013
New York Life senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Mar. 16, 2013
5.87% Series A senior notes due in 2013 [Member] | New York Life senior notes [Member]
Debt Instrument [Line Items]
Short-term debt instrument, issuance date	Oct. 26, 2007
Short-term debt instrument, maturity date	Oct. 26, 2015
Short-term debt and current portion of long-term debt	17,500	0
6.35% Series B senior notes due in 2015 [Member] | New York Life senior notes [Member]
Debt Instrument [Line Items]
Short-term debt and current portion of long-term debt	50,000	0
Debt instrument, issuance date	Apr. 29, 2008
Debt instrument, maturity date	Apr. 29, 2015	Apr. 29, 2015
Long-term debt	0	50,000
Interest rate, stated percentage	6.35%	6.35%
4.125% senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Sep. 12, 2012
Debt instrument, maturity date	Sep. 12, 2022	Sep. 12, 2022	Sep. 12, 2022
Long-term debt	347,863	347,585
Interest rate, stated percentage	4.125%	4.125%	4.125%
Unamortized discount on senior notes	2,137	2,415
4.875% senior notes due in 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Dec. 08, 2011
Debt instrument, maturity date	Jan. 15, 2019	Jan. 15, 2019		Jan. 15, 2019
Long-term debt	248,639	248,301
Interest rate, stated percentage	4.875%	4.875%		4.875%
Unamortized discount on senior notes	1,361	1,699
5.80% senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Apr. 06, 2011
Debt instrument, maturity date	May 01, 2021	May 01, 2021			May 01, 2021
Long-term debt	449,346	449,243
Interest rate, stated percentage	5.80%	5.80%			5.80%
Unamortized discount on senior notes	654	757
5.84% Series H senior notes due in 2015 [Member] | Prudential senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Oct. 26, 2007
Debt instrument, maturity date	Oct. 26, 2015	Oct. 26, 2015
Long-term debt	0	17,500
Interest rate, stated percentage	5.84%	5.84%
6.28% Series I senior notes due in 2015 [Member] | Prudential senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Apr. 29, 2008
Debt instrument, maturity date	Apr. 29, 2015	Apr. 29, 2015
Long-term debt	0	85,000
Interest rate, stated percentage	6.28%	6.28%
6.85% Series J senior notes due in 2016 [Member] | Prudential senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Jun. 15, 2009
Debt instrument, maturity date	Jun. 15, 2016	Jun. 15, 2016
Long-term debt	50,000	50,000
Interest rate, stated percentage	6.85%	6.85%
5.87% Series A senior notes due in 2015 [Member] | New York Life senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	Oct. 26, 2007
Debt instrument, maturity date	Oct. 26, 2015	Oct. 26, 2015
Long-term debt	0	17,500
Interest rate, stated percentage	5.87%	5.87%
Line of credit [Member]
Debt Instrument [Line Items]
Short-term debt and current portion of long-term debt	160,000	0
Prudential senior notes [Member] | 5.84% Series H senior notes due in 2013 [Member]
Debt Instrument [Line Items]
Short-term debt instrument, issuance date	Oct. 26, 2007
Short-term debt instrument, maturity date	Oct. 26, 2015
Short-term debt and current portion of long-term debt	17,500	0
Prudential senior notes [Member] | 6.28% Series I senior notes due in 2013 [Member]
Debt Instrument [Line Items]
Short-term debt instrument, issuance date	Apr. 29, 2008
Short-term debt instrument, maturity date	Apr. 29, 2015
Short-term debt and current portion of long-term debt	85,000	0
Capital lease obligations and other [Member]
Debt Instrument [Line Items]
Short-term debt and current portion of long-term debt	6,058	$ 4,448

XML

Related Parties - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014 relatedparty	Dec. 31, 2013 relatedparty	Dec. 31, 2012
Related Party Transactions [Abstract]
Percentage of ownership on outstanding common stock required to become related party	5.00%	5.00%
Number of related parties	0	0
Revenues from related parties	$ 0	$ 0	$ 0

XML

Pension and Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Summary of Changes in Benefit Obligations and Plan Assets Amount Recognized

The following table sets forth the changes in the benefit obligations and the plan assets, the (funded) unfunded status of the Pension Plan, SERP and Postretirement Plan, and the amounts recognized in the Company’s consolidated balance sheets at December 31:

	Pension Plan and SERP						Postretirement Plan
	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation at January 1	$	420,664		$	460,482		$	20,399		$	22,434
Interest cost		19,073			17,860			593			608
Actuarial loss (gain)		61,804			(31,962	)		(411	)		(426	)
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Federal subsidy on benefits paid		—			—			391			260
Benefit obligation at December 31	$	471,259		$	420,664		$	18,773		$	20,399
Accumulated benefit obligation at December 31	$	471,259		$	420,664
Change in plan assets:
Fair value of plan assets at January 1	$	467,912		$	421,134		$	16,601		$	18,766
Actual return on plan assets, net of expenses		36,474			68,583			743			(198	)
Employer contributions, net		1,177			3,911			(305	)		250
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Subsidies received		—			—			391			260
Fair value of plan assets at December 31	$	475,281		$	467,912		$	15,231		$	16,601
(Funded) unfunded status at December 31	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798
Amounts recognized in the consolidated balance sheets consist of:
Pension assets, noncurrent	$	(18,589	)	$	(60,955	)	$	—		$	—
Pension, SERP and postretirement benefits, current		762			700			1,132			1,737
Pension, SERP and postretirement benefits, noncurrent		13,805			13,007			2,410			2,061
Total Pension, SERP and Postretirement benefits	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798

Summary of Pre-Tax Components of Accumulated Other Comprehensive Losses

The following is a summary of accumulated other comprehensive losses as of December 31:

	2014			2013
Foreign currency translation adjustment	$	(3,086	)	$	(1,800	)
Unrealized losses on available-for-sale securities, net of tax		(110	)		(75	)
Pension and postretirement adjustment, net of tax		(77,318	)		(41,613	)
Accumulated other comprehensive losses	$	(80,514	)	$	(43,488	)

The pre-tax components included within accumulated other comprehensive losses as of December 31 are summarized below:

	Pension Plan and SERP				Postretirement Plan
	2014		2013		2014			2013
Prior service benefit	$	—	$	—	$	(1,000	)	$	(1,147	)
Actuarial losses		120,735		62,226		8,321			9,208
Accumulated other comprehensive losses, pretax	$	120,735	$	62,226	$	7,321		$	8,061

Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income

The pre-tax components of net periodic benefit (credit) cost and the amounts recognized in other comprehensive loss (income) are summarized below for the years ended December 31:

	Pension Plan and SERP									Postretirement Plan
	2014			2013			2012			2014			2013			2012
Service cost	$	—		$	—		$	282		$	—		$	—		$	—
Interest cost		19,073			17,860			19,888			593			608			779
Curtailment gain		—			—			(780	)		—			—			—
Expected return on plan assets		(33,942	)		(30,480	)		(28,899	)		(786	)		(919	)		(255	)
Amortization of prior service benefit		—			—			(133	)		(146	)		(146	)		(146	)
Amortization of net actuarial loss		763			5,078			3,646			517			767			634
Net periodic benefit (credit) cost		(14,106	)		(7,542	)		(5,996	)		178			310			1,012
Amortization of actuarial loss reclassified from accumulated other comprehensive losses		(354	)		(1,320	)		(279	)		—			—			—
Amortization of prior service benefit reclassified from accumulated other comprehensive losses		—			—			133			146			146			146
Prior service benefit		—			—			(7,475	)		—			—			—
Net loss recognized reclassified from accumulated other comprehensive losses		(409	)		(3,758	)		(3,368	)		—			—			—
Actuarial gain (loss)		59,272			(70,065	)		26,184			(886	)		(77	)		1,742
Total recognized in other comprehensive loss (income)		58,509			(75,143	)		15,195			(740	)		69			1,888
Total recognized in net periodic benefit (credit) cost and other comprehensive loss (income)	$	44,403		$	(82,685	)	$	9,199		$	(562	)	$	379		$	2,900

Summary of Accumulated Other Comprehensive Losses Recognized in Net Periodic Benefit

The estimated amounts in accumulated other comprehensive losses that are expected to be recognized as components of net periodic benefit (credit) cost during 2015 are summarized below:

	Pension Plan And SERP		Postretirement Plan			Total
Amortization of prior service benefit	$	—	$	(146	)	$	(146	)
Amortization of net actuarial loss		2,969		599			3,568
Total	$	2,969	$	453		$	3,422

Summary of Weighted-Average Assumptions Used in Calculating Net Periodic Benefit (Credit) Cost

The weighted-average assumptions used to determine benefit obligations as of December 31, 2014 and 2013 and net periodic benefit (credit) cost for the years 2014, 2013 and 2012 are provided below:

	Pension Plan and SERP						Postretirement Plan
Weighted-average assumptions used to determine benefit obligations:	2014		2013				2014		2013
Discount rate	3.99	%	4.74	%			3.00	%	3.45	%
Expected return on plan assets	7.50	%	7.50	%			4.00	%	5.00	%
Weighted-average assumptions used to determine net periodic benefit (credit) loss:	2014		2013		2012		2014		2013		2012
Discount rate	4.73	%	3.98	%	4.98	%	3.45	%	2.75	%	3.50	%
Expected return on plan assets	7.50	%	7.50	%	7.50	%	5.00	%	5.00	%	N/A
Rate of compensation increase	N/A		N/A		4.00	%	N/A		N/A		N/A

Summary of Estimated Future Benefit Payments for Respective Plans

The following table presents the estimated future benefit payments for the respective plans. The future benefit payments for the Postretirement Plan are net of the federal Medicare subsidy.

	Pension Plan and SERP		Postretirement Plan
	Gross Benefit Amount		Gross Benefit Amount		Medicare Subsidy Payments			Net Benefit Amount
2015	$	29,256	$	2,825	$	(395	)	$	2,430
2016	$	30,070	$	2,660	$	(387	)	$	2,273
2017	$	30,303	$	2,480	$	(378	)	$	2,102
2018	$	30,223	$	2,291	$	(368	)	$	1,923
2019	$	30,692	$	2,093	$	(358	)	$	1,735
2020-2024	$	149,595	$	7,587	$	(1,601	)	$	5,986

Summary of Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates

A 1.00% change in assumed healthcare cost trend rates would have the following effects:

	1% Increase		1% Decrease
Effect of total service and interest cost components of net periodic postretirement healthcare benefit cost	$	12	$	(11	)
Effect on the healthcare component of the accumulated postretirement benefit obligation	$	516	$	(477	)

Summary of Asset Allocation and Target Allocation

The asset allocation at December 31, 2014 and 2013, and target allocation for 2015 by asset category are as follows:

Asset Category	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity securities	60.00	%	56.80	%	66.80	%
Debt securities	40.00	%	41.30	%	33.20	%
Other	—	%	1.90	%	—	%
Total	100.00	%	100.00	%	100.00	%

The following table summarizes the fair value measurements by level of the Pension Plan and Postretirement Plan assets. Refer to Note 7. Fair Value Measurements for further discussion with respect to fair value hierarchy.

	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
December 31, 2014
Equity
Managed equity accounts (1)	$	83,690		$	83,690	$	—		$	—
Equity — pooled separate account (2)		186,102			—		186,102			—
Equity — partnerships (3)		240			—		—			240
Debt
Fixed income manager — pooled separate account (2)		196,034			—		196,034			—
Fixed income manager — government securities (4)		15,231			15,231		—			—
Other
Cash — pooled separate account (2)		9,215			—		9,215			—
Total	$	490,512		$	98,921	$	391,351		$	240
December 31, 2013
Equity
Managed equity accounts (1)	$	110,852		$	110,852	$	—		$	—
Equity — pooled separate account (2)		200,947			—		200,947			—
Equity — partnerships (3)		635			—		—			635
Debt
Fixed income manager — pooled separate account (2)		165,157			—		165,157			—
Fixed income manager — government securities (4)		16,601			16,601		—			—
Other
Cash deficit — pooled separate account (2)		(9,679	)		—		(9,679	)		—
Total	$	484,513		$	127,453	$	356,425		$	635

(1) Valued at the closing price of shares for domestic stocks within the managed equity accounts, and valued at the net asset value (“NAV”) of shares for mutual funds at either the closing price reported in the active market or based on yields currently available on comparable securities of issuers with similar credit ratings for corporate bonds held by the Pension Plan in these managed accounts.

(2) The pooled separate accounts invest in domestic and foreign stocks, bonds and mutual funds. The fair values of these stocks, bonds and mutual funds are publicly quoted and are used in determining the NAV of the pooled separate account, which is not publicly quoted.

(3) Investments for which readily determinable prices do not exist are valued by the General Partner using either the market or income approach. In establishing the estimated fair value of investments, including those without readily determinable values, the General Partner assumes a reasonable period of time for liquidation of the investment, and takes into consideration the financial condition and operating results of the underlying portfolio company, nature of investment, restrictions on marketability, holding period, market conditions, foreign currency exposures, and other factors the General Partner deems appropriate.

(4) The fund invested in the U.S. government, its agencies or instrumentalities or securities that are rated AAA by S&P, AAA by Fitch, or Aaa by Moody’s, including but not limited to mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage backed securities, and valued at the closing price reported in the active market.

Summary of Changes in Fair Value of Pension Plans

The following table sets forth a summary of changes in fair value of the Pension Plan’s Level 3 assets for the years ended December 31:

	Equity-partnerships
	2014			2013
Balance at January 1	$	635		$	1,022
Realized and unrealized loss on plan assets, net		(395	)		(387	)
Balance at December 31	$	240		$	635

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Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Intercompany Accounts and Transactions

Intercompany Accounts and Transactions

The consolidated financial statements include the accounts of Verisk. All intercompany accounts and transactions have been eliminated.

Revenue Recognition, Software

Revenue Recognition

The following describes the Company’s primary types of revenues and the applicable revenue recognition policies. The Company’s revenues are primarily derived from sales of services and revenue is recognized as services are performed and information is delivered to customers. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, fees and/or price is fixed or determinable, and collectability is reasonably assured. Revenue is recognized net of applicable sales tax withholdings.

Industry-Standard Insurance Programs

Industry-standard insurance programs, statistical agent and data services and actuarial services are sold to participating insurance company customers under annual agreements covering a calendar year where the price is determined at the inception of the agreement. In accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition, the Company recognizes revenue ratably over the term of these annual agreements, as services are performed and continuous access to information is provided over the entire term of the agreements.

Property-Specific Rating and Underwriting Information

The Company provides property-specific rating information through reports issued for specific commercial properties, for which revenue is recognized when the report is delivered to the customer, provided that all other revenue recognition criteria are met.

In addition, the Company provides hosting or software solutions that provide continuous access to information about the properties being insured and underwriting information in the form of standard policy forms to be used by customers. As the customer has a contractual right to take possession of the software without significant penalty, revenues from these arrangements are recognized ratably over the contract period from the time when the customer had access to the solution in accordance with ASC 985-605, Software Revenue Recognition (“ASC 985-605”). The Company recognizes software license revenue when the arrangement does not require significant production, customization or modification of the software and the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred, fees are fixed or determinable, and collections are probable. These software arrangements include post-contract customer support (“PCS”). The Company recognizes software license revenue ratably over the duration of the annual license term as vendor specific objective evidence (“VSOE”) of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term.

Insurance

Insurance services primarily consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly.

There are also services within insurance, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Financial Services

Financial services include various types of services to customers. The Company primarily recognizes revenue ratably for these services over the term of the agreements, as services are performed and continuous service is provided over the entire term of the agreements. In addition, there are certain services which are comprised of transaction-based fees; in these instances, revenue is recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Healthcare

The Company provides software hosting arrangements to customers whereby the customer does not have the right to take possession of the software. As these arrangements include PCS throughout the hosting term, revenues from these multiple element arrangements are recognized in accordance with ASC 605-25, Revenue Recognition — Multiple Element Arrangements (“ASC 605-25”). The Company recognizes revenue ratably over the duration of the license term, which ranges from one to five years, since the contractual elements do not have stand alone value.

There are also services within healthcare, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Specialized Markets

Specialized markets consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly. In addition, specialized markets are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

The Company services long-term contract arrangements with certain customers. For these arrangements, revenue is recognized in accordance with ASC 605-35, Revenue Recognition — Construction-Type and Production-Type Contracts (“ASC 605-35”), using the percentage-of-completion method, which requires the use of estimates. In such instances, management is required to estimate the input measures, based on hours incurred to date compared to total estimated hours of the project, with consideration also given to output measures, such as contract milestones, when applicable. Adjustments to estimates are made in the period in which the facts requiring such revisions become known. Accordingly, recognized revenues and profits are subject to revisions as the contract progresses to completion. The Company considers the contract substantially complete when there is compliance with all performance specifications and there are no remaining costs or potential risk.

Fees Received in Advance

Fees Received in Advance

The Company invoices its customers in annual, quarterly, monthly or milestone installments. Amounts billed and collected in advance of contract terms are recorded as “Fees received in advance” in the accompanying consolidated balance sheets and are recognized as the services are performed and the applicable revenue recognition criteria are met.

Fixed Assets and Finite-lived Intangible Assets

Fixed Assets and Finite-lived Intangible Assets

Property and equipment, internal-use software and finite-lived intangibles are stated at cost less accumulated depreciation and amortization, which are computed on a straight-line basis over their estimated useful lives. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term.

Software to be Sold, Leased, or Marketed

The Company’s internal software development costs primarily relate to internal-use software. Such costs are capitalized in the application development stage in accordance with ASC 350-40, Internal-use Software. The Company also capitalizes software development costs upon the establishment of technological feasibility for a product in accordance with ASC 985-20, Software to be Sold, Leased, or Marketed (“ASC 985-20”). Software development costs are amortized on a straight-line basis over a three-year period, which management believes represents the useful life of these capitalized costs.

Property, Plant and Equipment, Impairment

In accordance with ASC 360, Property, Plant & Equipment, whenever events or changes in circumstances indicate that the carrying amount of long-lived assets and finite-lived intangible assets may not be recoverable, the Company reviews its long-lived assets and finite-lived intangible assets for impairment by first comparing the carrying value of the assets to the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets. If the carrying value exceeds the sum of the assets’ undiscounted cash flows, the Company estimates and recognizes an impairment loss by taking the difference between the carrying value and fair value of the assets

Assets Held-for-sale

Assets Held-for-Sale

The Company classifies its long-lived assets as held-for-sale when management commits to a plan to sell the assets, the assets are ready for immediate sale in their present condition, an active program to locate buyers has been initiated, the sale of the assets is probable and expected to be completed within one year, the assets are marketed at reasonable prices in relation to their fair value and it is unlikely that significant changes will be made to the plan to sell the assets. The Company measures the value of long-lived assets held for sale at the lower of the carrying amount or fair value, less cost to sell.

Capital and Operating Leases

Capital and Operating Leases

The Company leases various property, plant and equipment. Leased property is accounted for under ASC 840, Leases (“ASC 840”). Accordingly, leased property that meets certain criteria is capitalized and the present value of the related lease payments is recorded as a liability. Amortization of assets accounted for as capital leases is computed utilizing the straight-line method over the shorter of the remaining lease term or the estimated useful life (principally 3 to 4 years for computer equipment and automobiles).

All other leases are accounted for as operating leases. Rent expense for operating leases, which may have rent escalation provisions or rent holidays, is recorded on a straight-line basis over the non-cancelable lease period in accordance with ASC 840. The initial lease term generally includes the build-out period, where no rent payments are typically due under the terms of the lease. The difference between rent expensed and rent paid is recorded as deferred rent. Construction allowances received from landlords are recorded as a deferred rent credit and amortized to rent expense over the term of the lease.

Investments

Investments

The Company’s investments at December 31, 2014 and 2013 included registered investment companies and equity investments in non-public companies. The Company accounts for short-term investments in accordance with ASC 320, Investments-Debt and Equity Securities (“ASC 320”).

There were no investments classified as trading securities at December 31, 2014 or 2013. All investments with readily determinable market values are classified as available-for-sale. While these investments are not held with the specific intention to sell them, they may be sold to support the Company’s investment strategies. All available-for-sale investments are carried at fair value. The cost of all available-for-sale investments sold is based on the specific identification method, with the exception of mutual fund-based investments, which is based on the weighted average cost method. Dividend income is accrued on the ex-dividend date.

The Company performs reviews of its investment portfolio when individual holdings have experienced a decline in fair value below their respective cost. The Company considers a number of factors in the evaluation of whether a decline in value is other-than-temporary including: (a) the financial condition and near term prospects of the issuer; (b) the Company’s ability and intent to retain the investment for a period of time sufficient to allow for an anticipated recovery in value; and (c) the period and degree to which the market value has been below cost. Where the decline is deemed to be other-than-temporary, a charge is recorded to “Investment income and others” in the accompanying consolidated statements of operations, and a new cost basis is established for the investment.

The Company’s equity investments in non-public companies are included in “Other assets” in the accompanying consolidated balance sheets. Those securities are carried at cost, as the Company owns less than 20% of the stock and does not otherwise have the ability to exercise significant influence. These securities are written down to their estimated realizable value when management considers there is an other-than-temporary decline in value based on financial information received and the business prospects of the entity.

Fair Value Measurements

Fair Value of Financial Instruments

The Company follows the provisions of ASC 820-10, Fair Value Measurements (“ASC 820-10”), which defines fair value, establishes a framework for measuring fair value under U.S. GAAP and expands fair value measurement disclosures. The Company follows the provisions of ASC 820-10 for its financial assets and liabilities recognized or disclosed at fair value on a recurring basis. The Company follows the provisions of ASC 820-10 for its non-financial assets and liabilities recognized or disclosed at fair value.

Certain assets and liabilities of the Company are reported at fair value in the accompanying consolidated balance sheets. Such assets and liabilities include amounts for both financial and non-financial instruments. To increase consistency and comparability of assets and liabilities recorded at fair value, ASC 820-10 establishes a three-level fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. ASC 820-10 requires disclosures detailing the extent to which companies’ measure assets and liabilities at fair value, the methods and assumptions used to measure fair value and the effect of fair value measurements on earnings. In accordance with ASC 820-10, the Company applied the following fair value hierarchy:

Level 1 — Assets or liabilities for which the identical item is traded on an active exchange, such as publicly-traded instruments.

Level 2 — Assets and liabilities valued based on observable market data for similar instruments.

Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market; instruments valued based on the best available data, some of which is internally-developed, and considers risk premiums that a market participant would require.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable is generally recorded at the invoiced amount. The allowance for doubtful accounts is estimated based on an analysis of the aging of the accounts receivable, historical write-offs, customer payment patterns, individual customer creditworthiness, current economic trends, and/or establishment of specific reserves for customers in adverse financial condition. The Company assesses the adequacy of the allowance for doubtful accounts on a quarterly basis.

Foreign Currency

Foreign Currency

The Company has determined local currencies are the functional currencies of the foreign operations. The assets and liabilities of foreign subsidiaries are translated at the period-end rate of exchange and statement of operations items are translated at the average rates prevailing during the year. The resulting translation adjustment is recorded as a component of “Accumulated other comprehensive losses” in the accompanying consolidated statements of changes in stockholders’ equity (deficit).

Stock Based Compensation

Stock Based Compensation

The Company follows ASC 718, Stock Compensation (“ASC 718”). Under ASC 718, stock based compensation cost is measured at the grant date, based on the fair value of the awards granted, and is recognized as expense over the requisite service period.

Other equity awards, including restricted stock, are valued at the closing price of the Company’s Class A common stock on the grant date. Restricted stock generally has a service vesting period of four years and the Company recognizes the expense ratably over this service vesting period.

The Company estimates expected forfeitures of equity awards at the date of grant and recognizes compensation expense only for those awards expected to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate. Changes in the forfeiture assumptions may impact the total amount of expense ultimately recognized, as well as the timing of expense recognized over the requisite service period.

Research and Development Costs

Research and Development Costs

Research and development costs, which are primarily related to the personnel and related overhead costs incurred in developing new services for customers, are expensed as incurred. Such costs were $25,508, $21,426 and $18,386 for the years ended December 31, 2014, 2013 and 2012, respectively, and were included in the accompanying consolidated statements of operations.

Advertising Costs

Advertising Costs

Advertising costs, which are primarily associated with promoting the Company’s brand, names and solutions provided, are expensed as incurred. Such costs were $6,360, $8,457 and $6,166 for the years ended December 31, 2014, 2013 and 2012, respectively.

Income Taxes

Income Taxes

The Company accounts for income taxes under the asset and liability method under ASC 740, Income Taxes (“ASC 740”), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

Deferred tax assets are recorded to the extent these assets are more likely than not to be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. Valuation allowances are recognized to reduce deferred tax assets if it is determined to be more likely than not that all or some of the potential deferred tax assets will not be realized.

The Company follows ASC 740-10, Income Taxes (“ASC 740-10”), which clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740-10 provides that a tax benefit from an uncertain tax position may be recognized based on the technical merits when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes. Income tax positions must meet a more likely than not recognition threshold at the effective date to be recognized upon the adoption of ASC 740-10 and in subsequent periods. This standard also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within “Other liabilities” on the accompanying consolidated balance sheets.

Earnings Per Share

Earnings Per Share

Basic and diluted earnings per share (“EPS”) are determined in accordance with ASC 260, Earnings per Share, which specifies the computation, presentation and disclosure requirements for EPS. Basic EPS excludes all dilutive common stock equivalents. It is based upon the weighted average number of common shares outstanding during the period. Diluted EPS, as calculated using the treasury stock method, reflects the potential dilution that would occur if the Company’s dilutive outstanding stock options and stock awards were issued.

Pension and Postretirement Benefits

Pension and Postretirement Benefits

The Company accounts for its pension and postretirement benefits under ASC 715, Compensation — Retirement Benefits (“ASC 715”). ASC 715 requires the recognition of the funded status of a benefit plan in the balance sheet, the recognition in other comprehensive income (loss) of gains or losses and prior service costs or credits arising during the period, but which are not included as components of periodic benefit cost, and the measurement of defined benefit plan assets and obligations as of the balance sheet date. The Company utilizes a valuation date of December 31.

Product Warranty Obligations

Product Warranty Obligations

The Company provides warranty coverage for certain of its solutions. The Company recognizes a product warranty obligation when claims are probable and can be reasonably estimated. As of December 31, 2014 and 2013, product warranty obligations were not material.

In the ordinary course of business, the Company enters into numerous agreements that contain standard indemnities whereby the Company indemnifies another party for breaches of confidentiality, infringement of intellectual property or gross negligence. Such indemnifications are primarily granted under licensing of computer software. Most agreements contain provisions to limit the maximum potential amount of future payments that the Company could be required to make under these indemnifications; however, the Company is not able to develop an estimate of the maximum potential amount of future payments to be made under these indemnifications as the triggering events are not subject to predictability.

Loss Contingencies

Loss Contingencies

The Company accrues for costs relating to litigation, claims and other contingent matters when such liabilities become probable and reasonably estimable. Such estimates are based on management’s judgment. Actual amounts paid may differ from amounts estimated, and such differences will be charged to operations in the period in which the final determination of the liability is made.

Goodwill

Goodwill

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have finite lives are amortized over their useful lives. Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30 or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. The Company completed the required annual impairment test as of June 30, 2014, which resulted in no impairment of goodwill in 2014. This test compares the carrying value of each reporting unit to its fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets, including goodwill assigned to that reporting unit, goodwill is not impaired. If the carrying value of the reporting unit’s net assets, including goodwill, exceeds the fair value of the reporting unit, then the Company will determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then an impairment loss is recorded for the difference between the carrying amount and the implied fair value of the goodwill.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In March 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU No. 2013-05”). Under ASU No. 2013-05, an entity is required to release any related cumulative translation adjustment into net income upon cessation to have a controlling financial interest in a subsidiary or group of assets within a foreign entity. ASU 2013-05 is effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. ASU 2013-05 was adopted by the Company on January 1, 2014. The adoption of ASU 2013-05 did not have a material impact on the Company’s consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU No. 2013-11”). Under ASU No. 2013-11, an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with the exception that these unrecognized tax benefits are not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position or the tax law. An additional exception applies when the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented as a liability and should not be combined with deferred tax assets. ASU No. 2013-11 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. The Company adopted the standard on January 1, 2014. The adoption of ASU No. 2013-11 did not have a material impact on the Company's consolidated financial statements.

In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”). Under ASU No. 2014-08, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The amendments in this ASU further require additional disclosures on discontinued operations in the financial statements. ASU No. 2014-08 is effective prospectively for reporting periods beginning after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications as held-for-sale) that have not been reported in the financial statements previously issued. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are required to be reported in discontinued operations under the existing guidance and this ASU.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU No. 2014-09"). The objective of ASU No. 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU No. 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the contract’s performance obligations; and recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt ASU No. 2014-09. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements nor decided upon the method of adoption.

In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items ("ASU No. 2015-01"). As it is extremely rare in current practice for an event or transaction to be presented as an extraordinary item, this ASU eliminates from the U.S. GAAP the concept of extraordinary items. ASU No. 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are warranted.

Equity Method Investments

In addition to the available-for-sale securities above, the Company has equity investments in non-public companies in which the Company acquired non-controlling interests and for which no readily determinable market value exists. These securities were accounted for under the cost method in accordance with ASC 323-10-25, The Equity Method of Accounting for Investments in Common Stock.

Business Combinations and Other Purchase of Business Transactions

Pursuant to the related acquisition agreements, the Company has funded various escrow accounts to satisfy pre-acquisition indemnity and tax claims arising subsequent to the acquisition dates, as well as a portion of the contingent payments. At December 31, 2014 and 2013, the escrows amounted to $5,583 and $27,967, respectively, and have been included in “Other current assets” in the accompanying consolidated balance sheets.

Segment Reporting

ASC 280-10, Disclosures About Segments of an Enterprise and Related Information (“ASC 280-10”), establishes standards for reporting information about operating segments. ASC 280-10 requires that a public business enterprise reports financial and descriptive information about its reportable operating segments. Operating segments are components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s President and CEO is identified as the CODM as defined by ASC 280-10. To align with the internal management of the Company’s business operations based on service offerings, the Company is organized into the following two operating segments, which are also the Company’s reportable segments:

Decision Analytics: The Company develops solutions that its customers use to analyze key processes in managing risk. The Company’s combination of algorithms and analytic methods incorporates its proprietary data to generate solutions. In most cases, the Company’s customers integrate the solutions into their models, formulas or underwriting criteria in order to predict potential loss events, ranging from hurricanes and earthquakes to unanticipated healthcare claims. The Company develops catastrophe and extreme event models and offers solutions covering natural and man-made risks, including acts of terrorism. The Company also develops solutions that allow customers to quantify costs after loss events occur. Fraud solutions include data on claim histories, analysis of claims to find emerging patterns of fraud, and identification of suspicious claims in the insurance and healthcare sectors.

On March 11, 2014, the Company sold the Company's mortgage services business, Interthinx. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. Refer to Note 10 for more information.

Risk Assessment: The Company is the leading provider of statistical, actuarial and underwriting data for the U.S. P&C insurance industry. The Company’s databases include cleansed and standardized records describing premiums and losses in insurance transactions, casualty and property risk attributes for commercial buildings and their occupants and fire suppression capabilities of municipalities. The Company uses this data to create policy language and proprietary risk classifications that are industry standards and to generate prospective loss cost estimates used to price insurance policies.

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Debt - Additional Information (Detail) (USD $)	0 Months Ended		12 Months Ended			2 Months Ended	0 Months Ended
	Oct. 21, 2014	Oct. 20, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 24, 2015	Sep. 12, 2012	Dec. 08, 2011	Apr. 06, 2011
Debt Instrument [Line Items]
Accrued interest			$ 16,265,000	$ 16,150,000
Interest Expense			69,984,000	76,136,000	72,508,000
Debt instrument repurchase price rate on principal amount			101.00%
Long term debt outstanding			1,441,084,000
Syndicate revolving credit facility	990,000,000	975,000,000
Debt expiration date	Oct. 24, 2019	Oct. 24, 2018
Available borrowing capacity			827,874,000
Fair value of amount outstanding			160,000,000	0
Proceeds from short-term debt, net			160,000,000	(10,000,000)	357,224,000
Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds from short-term debt, net						140,000,000
Minimum [Member]
Debt Instrument [Line Items]
Interest payable			1.125%
Maximum [Member]
Debt Instrument [Line Items]
Interest payable			1.625%
Long-term Debt [Member]
Debt Instrument [Line Items]
Interest Expense			66,881,000	73,068,000	69,892,000
Prudential senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Aug. 30, 2013
Long term debt outstanding			152,500,000	152,500,000
New York Life senior notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Mar. 16, 2013
Long term debt outstanding			67,500,000	67,500,000
4.125% senior notes due in 2022 [Member]
Debt Instrument [Line Items]
Bond issuance, aggregate principal amount							350,000,000
Debt instrument, maturity date			Sep. 12, 2022	Sep. 12, 2022			Sep. 12, 2022
Interest rate, stated percentage			4.125%	4.125%			4.125%
Term of interest payable							semi-annually
4.875% senior notes due in 2019 [Member]
Debt Instrument [Line Items]
Bond issuance, aggregate principal amount								250,000,000
Debt instrument, maturity date			Jan. 15, 2019	Jan. 15, 2019				Jan. 15, 2019
Interest rate, stated percentage			4.875%	4.875%				4.875%
Term of interest payable								semi-annually
5.80% senior notes due in 2021 [Member]
Debt Instrument [Line Items]
Bond issuance, aggregate principal amount									$ 450,000,000
Debt instrument, maturity date			May 01, 2021	May 01, 2021					May 01, 2021
Interest rate, stated percentage			5.80%	5.80%					5.80%
Term of interest payable									semi-annually

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Income Taxes - Summary of Deferred Income Tax Asset and Liability (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current deferred income tax asset, net	$ 4,772	$ 5,077
Non-current deferred income tax liability, net	(202,540)	(198,604)
Deferred income tax liability, net	$ (197,768)	$ (193,527)

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Compensation Plans - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014 H	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	May 15, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Stock Ownership Plan (ESOP), Cash Contributions to ESOP	$ 0	$ 0	$ 0
Required contribution to new loan agreement	17,000,000
ESOP loan collateral shares	145,007
Common stock shares fair value (in dollars per share)	$ 64.05	$ 65.72	$ 50.97
No of allocated shares	11,468,151
Number of service hours	1,000
Nonqualified stock option, service vesting period	4 years
Profit sharing contributions	0	0	0
KSOP Compensation Expense	20,253,000	21,087,000	24,696,000
Cash received from stock option exercised	24,648,000	80,368,000	68,388,000
Nonqualified stock option granted	1,242,428	888,038	973,124
Nonqualified stock option contractual term	10 years
Aggregate intrinsic value of stock option outstanding	303,267,000	360,611,000	361,653,000	445,510,000
Aggregate intrinsic value of stock option exercisable	286,728,000	320,766,000
Excess tax benefit from stock option exercised	15,988,000	58,056,000	88,387,000
Realized tax benefit from stock option exercised	22,566,000	109,946,000	60,672,000
Payments Related to Tax Withholding for Share-based Compensation	1,625,000	0	0
Number of Stock Issued During Period Shares Stock Options Exercised Net Of Taxes	27,159	0	0
Total unrecognized compensation cost related to nonvested share based compensation arrangements	41,576,000
Unrecognized compensation cost weighted average period	2 years 6 months 3 days
Non vested stock option	2,045,795
Stock option expected to vest	1,652,852
Total fair value of options vested	12,780,000	16,468,000	19,834,000
Grant date fair value restricted stock vested	9,839,000	7,153,000	3,206,000
Authorized payroll deductions on base salary	20.00%
Maximum payroll deductions on short-term incentive compensation	50.00%
Maximum amount of payroll deductions	25,000
Purchase discount	5.00%
Shares of Verisk Class A common stock issued, discounted price per share	$ 57.98	$ 59.62
Key Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonqualified stock option granted	1,145,976
Verisk Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class A common stock at cost	137,000	137,000
Class A common stock reserved					15,700,000
Basis to reduce shares authorized for shares issued subject to option or stock appreciation rights					1
Basis to reduce shares authorized for shares issued subject to awards other than option or stock appreciation rights					2.5
Common stock, shares issued	12,771,637
Verisk Class A [Member] | Key Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Verisk Class A common stock issued	588
KSOP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax contribution of compensation	18,000	18,000	17,000
Minimum participant age, additional employee contributions	50 years
Contributions of additional pre-tax basis	6,000	6,000	6,000
After tax contribution are limited for compensation	10.00%
Matching contributions in Class A common stock	75.00%
Matching contributions initial in Class A common stock	6.00%
KSOP Compensation Expense	15,351,000	14,930,000	13,111,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonqualified stock option, service vesting period	4 years
Restricted stock granted, shares	246,003	241,674	244,397
Non vested stock option	442,310
Stock option expected to vest	366,776
Restricted Stock, Excluding Deferred Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted, shares	230,196
Deferred Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted, shares	15,807
Non qualified stock option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonqualified stock option granted	33,906
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonqualified stock option, service vesting period	1 year
Nonqualified stock option granted	62,546
Stock Options [Member] | Verisk Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonqualified stock option granted	3,387
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of Verisk Class A common stock issued	26,953	27,879
Additional Paid-in Capital [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments Related to Tax Withholding for Share-based Compensation	$ 1,625,000

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Fair Value Measurements - Financial Assets and Liabilities Accounted at Fair Value (Detail) (Fair Value, Measurements, Recurring [Member], USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Cash equivalents - money - market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents – money-market funds	$ 3,707		$ 889
Registered investment companies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Registered investment companies	3,801	[1]	3,911	[1]
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash equivalents - money - market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents – money-market funds	0		0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Registered investment companies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Registered investment companies	3,801	[1]	3,911	[1]
Significant Other Observable Inputs (Level 2) [Member] | Cash equivalents - money - market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents – money-market funds	3,707		889
Significant Other Observable Inputs (Level 2) [Member] | Registered investment companies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Registered investment companies	$ 0	[1]	$ 0	[1]

[1] Registered investment companies are classified as available-for-sale securities and are valued using quoted prices in active markets multiplied by the number of shares owned.

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Operations (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Revenues	$ 1,746,726,000	$ 1,595,703,000	$ 1,407,848,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	716,598,000	622,523,000	516,708,000
Selling, general and administrative	227,306,000	228,982,000	220,068,000
Depreciation and amortization of fixed assets	85,506,000	66,190,000	46,637,000
Amortization of intangible assets	56,870,000	63,741,000	52,207,000
Total expenses	1,086,280,000	981,436,000	835,620,000
Operating income	660,446,000	614,267,000	572,228,000
Other income (expense):
Investment income and others	158,000	609,000	106,000
Interest expense	(69,984,000)	(76,136,000)	(72,508,000)
Total other expense, net	(69,826,000)	(75,527,000)	(72,402,000)
Income before income taxes	590,620,000	538,740,000	499,826,000
Provision for income taxes	(219,755,000)	(196,426,000)	(182,363,000)
Net (loss) income from continuing operations before equity in net income of subsidiaries	370,865,000	342,314,000	317,463,000
Income (loss) from discontinued operations, net of tax	29,177,000	6,066,000	11,679,000
Equity in net income of subsidiaries	0	0	0
Net income	400,042,000	348,380,000	329,142,000
Verisk Analytics, Inc. [Member]
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Revenues	0	0	0
Expenses:
Cost of revenues (exclusive of items shown separately below)	0	0	0
Selling, general and administrative	0	1,000	0
Depreciation and amortization of fixed assets	0	0	0
Amortization of intangible assets	0	0	0
Total expenses	0	1,000	0
Operating income	0	(1,000)	0
Other income (expense):
Investment income and others	51,000	43,000	44,000
Interest expense	(54,550,000)	(54,551,000)	(42,848,000)
Total other expense, net	(54,499,000)	(54,508,000)	(42,804,000)
Income before income taxes	(54,499,000)	(54,509,000)	(42,804,000)
Provision for income taxes	20,180,000	20,045,000	15,833,000
Net (loss) income from continuing operations before equity in net income of subsidiaries	(34,319,000)	(34,464,000)	(26,971,000)
Income (loss) from discontinued operations, net of tax	0	0	0
Equity in net income of subsidiaries	434,361,000	382,844,000	356,113,000
Net income	400,042,000	348,380,000	329,142,000
Guarantor Subsidiaries [Member]
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Revenues	1,440,093,000	1,259,884,000	1,162,134,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	568,858,000	451,393,000	401,724,000
Selling, general and administrative	186,937,000	183,717,000	174,324,000
Depreciation and amortization of fixed assets	72,254,000	52,248,000	36,898,000
Amortization of intangible assets	10,085,000	13,593,000	17,943,000
Total expenses	838,134,000	700,951,000	630,889,000
Operating income	601,959,000	558,933,000	531,245,000
Other income (expense):
Investment income and others	398,000	636,000	(130,000)
Interest expense	(15,401,000)	(21,571,000)	(29,619,000)
Total other expense, net	(15,003,000)	(20,935,000)	(29,749,000)
Income before income taxes	586,956,000	537,998,000	501,496,000
Provision for income taxes	(222,147,000)	(198,464,000)	(183,025,000)
Net (loss) income from continuing operations before equity in net income of subsidiaries	364,809,000	339,534,000	318,471,000
Income (loss) from discontinued operations, net of tax	29,322,000	6,230,000	11,679,000
Equity in net income of subsidiaries	32,532,000	29,262,000	19,159,000
Net income	426,663,000	375,026,000	349,309,000
Non-Guarantor Subsidiaries [Member]
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Revenues	357,249,000	355,165,000	266,427,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	189,507,000	179,196,000	125,111,000
Selling, general and administrative	49,218,000	56,544,000	56,330,000
Depreciation and amortization of fixed assets	13,252,000	13,942,000	9,739,000
Amortization of intangible assets	46,785,000	50,148,000	34,264,000
Total expenses	298,762,000	299,830,000	225,444,000
Operating income	58,487,000	55,335,000	40,983,000
Other income (expense):
Investment income and others	(291,000)	(70,000)	192,000
Interest expense	(33,000)	(14,000)	(41,000)
Total other expense, net	(324,000)	(84,000)	151,000
Income before income taxes	58,163,000	55,251,000	41,134,000
Provision for income taxes	(17,788,000)	(18,007,000)	(15,171,000)
Net (loss) income from continuing operations before equity in net income of subsidiaries	40,375,000	37,244,000	25,963,000
Income (loss) from discontinued operations, net of tax	(145,000)	(164,000)	0
Equity in net income of subsidiaries	0	0	0
Net income	40,230,000	37,080,000	25,963,000
Eliminating Entries [Member]
Schedule Of Condensed Consolidating Statement Of Operations [Line Items]
Revenues	(50,616,000)	(19,346,000)	(20,713,000)
Expenses:
Cost of revenues (exclusive of items shown separately below)	(41,767,000)	(8,066,000)	(10,127,000)
Selling, general and administrative	(8,849,000)	(11,280,000)	(10,586,000)
Depreciation and amortization of fixed assets	0	0	0
Amortization of intangible assets	0	0	0
Total expenses	(50,616,000)	(19,346,000)	(20,713,000)
Operating income	0	0	0
Other income (expense):
Investment income and others	0	0	0
Interest expense	0	0	0
Total other expense, net	0	0	0
Income before income taxes	0	0	0
Provision for income taxes	0	0	0
Net (loss) income from continuing operations before equity in net income of subsidiaries	0	0	0
Income (loss) from discontinued operations, net of tax	0	0	0
Equity in net income of subsidiaries	(466,893,000)	(412,106,000)	(375,272,000)
Net income	$ (466,893,000)	$ (412,106,000)	$ (375,272,000)

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Income Taxes - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Line Items]
Deferred tax liability	$ 197,768	$ 193,527
Unremitted earnings	12,440
Unrecognized tax benefits that would have a favorable effect on the Company's effective tax rate in any future periods	5,771	4,658	10,103
The total gross amount of accrued interest and penalties	2,818	2,619	3,728
Significant change in unrecognized tax benefits is reasonably possible approximately	$ 1,109

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Compensation Plans - Options Outstanding Under Incentive Plan and Option Plan (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Number of Options
Number of options outstanding, beginning balance	9,235,320	12,573,298	18,896,405
Number of options, granted	1,242,428	888,038	973,124
Number of options, exercised	(1,091,746)	(4,076,750)	(6,880,678)
Number of options, canceled or expired	(180,312)	(149,266)	(415,553)
Number of options outstanding, ending balance	9,205,690	9,235,320	12,573,298
Number of options exercisable	7,159,895	7,169,089
Weighted Average Exercise Price Per Share
Weighted average exercise price per share, beginning balance (in dollars per share)	$ 26.67	$ 22.21	$ 16.55
Weighted average exercise price per share, granted (in dollars per share)	$ 59.83	$ 61.10	$ 47.38
Weighted average exercise price per share , exercised (in dollars per share)	$ 22.29	$ 19.79	$ 9.09
Weighted average exercise price per share, canceled or expired (in dollars per share)	$ 55.23	$ 43.14	$ 19.30
Weighted average exercise price per share, ending balance (in dollars per share)	$ 31.11	$ 26.67	$ 22.21
Weighted average exercise price, options exercisable (in dollars per share)	$ 24.00	$ 20.98
Options, Additional Disclosures
Aggregate intrinsic value option outstanding, beginning balance	$ 360,611	$ 361,653	$ 445,510
Aggregate intrinsic value, exercised	43,863	168,056	257,391
Aggregate intrinsic value option outstanding, ending balance	303,267	360,611	361,653
Aggregate intrinsic value of stock option exercisable	$ 286,728	$ 320,766

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Stockholders' Equity (Deficit) - Computation of Basic and Diluted Earnings Per Share (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Income from continuing operations	$ 370,865	$ 342,314	$ 317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively	29,177	6,066	11,679
Provision for income taxes (including tax on the gain on sale in 2014)	(25,305)	(4,753)	(7,703)
Net income	$ 400,042	$ 348,380	$ 329,142
Denominator:
Weighted average number of common shares used in basic EPS	165,823,803	168,031,412	165,890,258
Effect of dilutive shares:
Potential common stock issuable from stock options and stock awards	3,308,620	4,244,948	5,819,260
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	169,132,423	172,276,360	171,709,518

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Compensation Plans - Summary of Nonvested Options (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Number of Options
Number of options outstanding, beginning balance	9,235,320	12,573,298	18,896,405
Number of options, granted	1,242,428	888,038	973,124
Number of options, cancelled or expired	(180,312)	(149,266)	(415,553)
Number of options outstanding, ending balance	9,205,690	9,235,320	12,573,298
Non Vested Options [Member]
Number of Options
Number of options outstanding, beginning balance	2,066,231	3,776,302	6,743,094
Number of options, granted	1,242,428	888,038	973,124
Number of shares, vested	(1,082,552)	(2,448,843)	(3,524,363)
Number of options, cancelled or expired	(180,312)	(149,266)	(415,553)
Number of options outstanding, ending balance	2,045,795	2,066,231	3,776,302
Weighted Average Grant-Date Fair Value Per Share
Weighted average grant-date fair value per share, nonvested beginning balance (in dollars per share)	12.61	9.43	7.52
Weighted average grant-date fair value per share, granted (in dollars per share)	11.86	15.58	13.59
Weighted average grant-date fair value per share, vested (in dollars per share)	11.71	8.81	7.38
Weighted average grant-date fair value per share, cancelled or expired (in dollars per share)	13.56	12.18	5.62
Weighted average grant-date fair value per share, nonvested ending balance (in dollars per share)	12.55	12.61	9.43

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Composition of Certain Financial Statement Captions - Schedule of Other Current Assets, Accounts Payable, Accrued Liabilities and Other Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other current assets:
Acquisition related escrows	$ 5,583	$ 27,967
Other current assets	13,292	6,714
Total other current assets	18,875	34,681
Accounts payable and accrued liabilities:
Accrued salaries, benefits and other related costs	87,729	79,372
Escrow liabilities	5,565	27,918
Trade accounts payable and other accrued expenses	87,432	80,974
Total accounts payable and accrued liabilities	180,726	188,264
Other liabilities:
Unrecognized tax benefits, including interest and penalty	13,455	12,143
Deferred rent	22,386	12,219
Other liabilities	7,547	11,681
Total other liabilities	$ 43,388	$ 36,043

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Income Taxes - Effective Tax Rate on Income from Continuing Operations (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Federal statutory rate	35.00%	35.00%	35.00%
State and local taxes, net of federal tax benefit	2.70%	2.60%	1.70%
Non-deductible KSOP expenses	0.90%	0.90%	0.90%
Other	(1.40%)	(2.00%)	(1.10%)
Effective tax rate for continuing operations	37.20%	36.50%	36.50%

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Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Stockholders' Equity (Deficit)

Stockholders’ Equity (Deficit):

The Company has 1,200,000,000 shares of authorized Class A common stock. The common shares have rights to any dividend declared by the board of directors, subject to any preferential or other rights of any outstanding preferred stock, and voting rights to elect all twelve members of the board of directors.

The Company has 80,000,000 shares of authorized preferred stock, par value $0.001 per share. The preferred shares have preferential rights over the Class A common shares with respect to dividends and net distribution upon liquidation. The Company did not issue any preferred shares as of December 31, 2014.

Share Repurchase Program

Since May 2010, the Company has authorized repurchases of up to $2,000,000 of its common stock through its Repurchase Program, including the additional authorization of $300,000 announced on June 4, 2014 and the Accelerated Share Repurchase ("ASR") program of $500,000 announced on December 16, 2014. Since the introduction of share repurchase as a feature of the Company's capital management strategies in 2010, the Company has repurchased shares with an aggregate value of $1,810,193. As of December 31, 2014, the Company had $189,807, excluding the ASR program, available to repurchase shares. The Company has no obligation to repurchase stock under this program and intends to use this authorization as a means of offsetting dilution from the issuance of shares under the ISO 401(k) Savings and Employee Stock Ownership Plan ("KSOP"), the Verisk 2013 Equity Incentive Plan (the "2013 Incentive Plan"), the Verisk 2009 Equity Incentive Plan (the “2009 Incentive Plan”), and the ISO 1996 Incentive Plan (the “1996 Incentive Plan”), while providing flexibility to repurchase additional shares if warranted. This authorization has no expiration date and may be increased, reduced, suspended, or terminated at any time. Shares that are repurchased under the Repurchase Program will be recorded as treasury stock and will be available for future issuance.

On December 17, 2014 and December 18, 2014, the Company entered into two agreements, collectively the ASR agreement, to repurchase shares of its common stock for an aggregate purchase price of $500,000. Upon payment of the aggregate purchase price in December 2014, the Company received an initial delivery of 6,372,472 shares of the Company's common stock at a price of $62.77 per share, representing approximately $400,000 of the aggregate purchase price. The aggregate purchase price was recorded as a reduction to stockholders' equity, consisting of a $400,000 increase in treasury stock and a $100,000 decrease in additional paid-in capital, in the Company's consolidated statements of changes in stockholders' equity (deficit). Upon final settlement of the ASR agreement in June 2015, the Company may be entitled to receive additional shares of its common stock or, under certain limited circumstances, be required to deliver shares to the counterparties or, at the Company's election, pay cash to the counterparties. As of December 31, 2014, the shares associated with the remaining portion of the aggregate purchase price have not yet been settled. These shares were not included in the calculation of the diluted weighted average common shares outstanding during the period, because their effect was anti-dilutive.

The ASR agreement was accounted for as an initial treasury stock transaction and a forward stock purchase agreement indexed to the Company's own common stock. The forward stock purchase agreement is classified as an equity instrument under ASC 815-40, Contracts in Entity's Own Equity ("ASC 815-40") and was deemed to have a fair value of zero at the effective dates. The initial repurchase of 6,372,472 shares resulted in an immediate reduction of the outstanding shares used to calculate the weighted average common shares outstanding for basic and diluted earnings per share ("EPS").

During the years ended December 31, 2014 and 2013, the Company repurchased 10,802,087 and 4,532,552 shares of common stock as part of the Repurchase Program at a weighted average price of $62.53 and $61.54 per share, respectively. The Company utilized cash from operations and borrowings from its Credit Facility to fund these repurchases. As treasury stock purchases are recorded based on trade date, the Company has included $0 and $3,038 in “Accounts payable and accrued liabilities” in the accompanying consolidated balance sheets for those purchases that have not settled as of December 31, 2014 and 2013, respectively.

Treasury Stock

As of December 31, 2014, the Company’s treasury stock consisted of 386,089,811 shares of Class A common stock. During the years ended December 31, 2014 and 2013, the Company reissued 1,257,387 and 4,263,406 shares of Class A common stock, under the 2013 Incentive Plan, 2009 Incentive Plan and the 1996 Incentive Plan, from the treasury shares at a weighted average price of $5.29 and $4.54 per share, respectively.

Earnings Per Share

Basic EPS is computed by dividing income from continuing operations, income from discontinued operations and net income, respectively, by the weighted average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding, using the treasury stock method, if the dilutive potential common shares, including stock options, nonvested restricted stock, nonvested restricted stock units, and the impact from the ASR program, had been issued.

The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31:

	2014		2013		2012
	(In thousands, except for share and per share data)
Numerator used in basic and diluted EPS:
Income from continuing operations	$	370,865	$	342,314	$	317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively		29,177		6,066		11,679
Net income	$	400,042	$	348,380	$	329,142
Denominator:
Weighted average number of common shares used in basic EPS		165,823,803		168,031,412		165,890,258
Effect of dilutive shares:
Potential common stock issuable from stock options and stock awards		3,308,620		4,244,948		5,819,260
Weighted average number of common shares and dilutive potential common shares used in diluted EPS		169,132,423		172,276,360		171,709,518

The potential shares of common stock that were excluded from diluted EPS were 1,633,670, 656,499 and 659,246 at December 31, 2014, 2013 and 2012, respectively, because the effect of including those potential shares was anti-dilutive.

Accumulated Other Comprehensive Losses

The following is a summary of accumulated other comprehensive losses as of December 31:

	2014			2013
Foreign currency translation adjustment	$	(3,086	)	$	(1,800	)
Unrealized losses on available-for-sale securities, net of tax		(110	)		(75	)
Pension and postretirement adjustment, net of tax		(77,318	)		(41,613	)
Accumulated other comprehensive losses	$	(80,514	)	$	(43,488	)

The before tax and after tax amounts of other comprehensive income for the years ended December 31, 2014, 2013 and 2012 are summarized below:

	Before Tax			Tax Benefit (Expense)			After Tax
December 31, 2014
Foreign currency translation adjustment	$	(1,286	)	$	—		$	(1,286	)
Unrealized loss on available-for-sale securities before reclassifications		(314	)		121			(193	)
Amount reclassified from accumulated other comprehensive losses (1)		257			(99	)		158
Unrealized loss on available-for-sale securities		(57	)		22			(35	)
Pension and postretirement adjustment before reclassifications		(56,635	)		21,629			(35,006	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(1,134	)		435			(699	)
Pension and postretirement adjustment		(57,769	)		22,064			(35,705	)
Total other comprehensive loss	$	(59,112	)	$	22,086		$	(37,026	)
December 31, 2013
Foreign currency translation adjustment	$	(840	)	$	—		$	(840	)
Unrealized loss on available-for-sale securities before reclassifications		(1,122	)		433			(689	)
Amount reclassified from accumulated other comprehensive losses (1)		882			(340	)		542
Unrealized loss on available-for-sale securities		(240	)		93			(147	)
Pension and postretirement adjustment before reclassifications		80,773			(30,611	)		50,162
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(5,699	)		2,196			(3,503	)
Pension and postretirement adjustment		75,074			(28,415	)		46,659
Total other comprehensive income	$	73,994		$	(28,322	)	$	45,672
December 31, 2012
Foreign currency translation adjustment	$	15		$	—		$	15
Unrealized loss on available-for-sale securities before reclassifications		(727	)		316			(411	)
Amount reclassified from accumulated other comprehensive losses (1)		346			(132	)		214
Unrealized loss on available-for-sale securities		(381	)		184			(197	)
Pension and postretirement adjustment before reclassifications		(13,082	)		4,865			(8,217	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(4,001	)		1,527			(2,474	)
Pension and postretirement adjustment		(17,083	)		6,392			(10,691	)
Total other comprehensive loss	$	(17,449	)	$	6,576		$	(10,873	)

(1) This accumulated other comprehensive losses component, before tax, is included under “Investment income and others” in the accompanying consolidated statements of operations.

(2) This accumulated other comprehensive losses component, before tax, is included under “Cost of revenues” and “Selling, general and administrative” in the accompanying consolidated statements of operations. This component is also included in the computation of net periodic benefit (credit) cost (see Note 17. Pension and Postretirement Benefits for additional details).

XML

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Term of license, minimum	1 year
Term of license, maximum	5 years
Investment classified as trading securities	$ 0	$ 0
Percent of corporate wholly-owned subsidiaries (less than)	20.00%
Restricted stock service vesting period	4 years
Research and development costs	25,508,000	21,426,000	18,386,000
Advertisement costs	6,360,000	8,457,000	6,166,000
Impairment of goodwill	$ 0
Restricted Stock [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Restricted stock service vesting period	4 years
Software development costs [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Capital lease agreements [Member] | Minimum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Capital lease agreements [Member] | Maximum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life	4 years

XML

Composition of Certain Financial Statement Captions (Tables)

12 Months Ended

Dec. 31, 2014

Balance Sheet Related Disclosures [Abstract]

Schedule of Other Current Assets, Accounts Payable, Accrued Liabilities and Other Liabilities

The following table presents the components of “Other current assets”, “Accounts payable and accrued liabilities” and “Other liabilities” as of December 31:

	2014		2013
Other current assets:
Acquisition related escrows	$	5,583	$	27,967
Other current assets		13,292		6,714
Total other current assets	$	18,875	$	34,681
Accounts payable and accrued liabilities:
Accrued salaries, benefits and other related costs	$	87,729	$	79,372
Escrow liabilities		5,565		27,918
Trade accounts payable and other accrued expenses		87,432		80,974
Total accounts payable and accrued liabilities	$	180,726	$	188,264
Other liabilities:
Unrecognized tax benefits, including interest and penalty	$	13,455	$	12,143
Deferred rent		22,386		12,219
Other liabilities		7,547		11,681
Total other liabilities	$	43,388	$	36,043

XML

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefit (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefit at January 1	$ 9,524	$ 17,883	$ 17,877
Gross increase in tax positions in prior period	2,679	541	911
Gross decrease in tax positions in prior period	0	(4,241)	(1,494)
Gross increase in tax positions from stock acquisitions	0	0	3,304
Settlements	0	(390)	(1,770)
Lapse of statute of limitations	(1,566)	(4,269)	(945)
Unrecognized tax benefit at December 31	$ 10,637	$ 9,524	$ 17,883

XML

Pension and Postretirement Benefits - Summary of Effect of One Percentage Point Change in Assumed Health Care Cost Trend Rates (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Effect of total service and interest cost components of net periodic postretirement healthcare benefit cost, 1% Increase	$ 12
Effect on the healthcare component of the accumulated postretirement benefit obligation, 1% Increase	516
Effect of total service and interest cost components of net periodic postretirement healthcare benefit cost, 1% Decrease	(11)
Effect on the healthcare component of the accumulated postretirement benefit obligation, 1% Decrease	$ (477)

XML

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Summary of Fixed Assets

The following is a summary of fixed assets:

	Useful Life	Cost		Accumulated Depreciation and Amortization			Net
December 31, 2014
Furniture and office equipment	3-10 years	$	199,199	$	(131,055	)	$	68,144
Leasehold improvements	Lease term		65,212		(27,884	)		37,328
Purchased software	3 years		116,089		(80,794	)		35,295
Software development costs	3 years		266,559		(111,766	)		154,793
Leased equipment	3-4 years		32,776		(26,063	)		6,713
Total fixed assets		$	679,835	$	(377,562	)	$	302,273
December 31, 2013
Furniture and office equipment	3-10 years	$	179,564	$	(105,262	)	$	74,302
Leasehold improvements	Lease term		38,796		(22,022	)		16,774
Purchased software	3 years		89,064		(65,753	)		23,311
Software development costs	3 years		201,192		(91,656	)		109,536
Leased equipment	3-4 years		33,956		(24,506	)		9,450
Total fixed assets		$	542,572	$	(309,199	)	$	233,373

XML

Cash and Cash Equivalents (Details)	12 Months Ended
	Dec. 31, 2014
Cash and Cash Equivalents [Abstract]
Maturity of Time Deposits	90 days

XML

Goodwill and Intangible Assets - Intangible Assets and Related Accumulated Amortization (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Cost	$ 776,775	$ 761,047
Accumulated Amortization	(370,299)	(313,429)
Total	406,476	447,618
Technology-based [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	8 years	8 years
Cost	299,705	294,940
Accumulated Amortization	(195,698)	(180,581)
Total	104,007	114,359
Marketing-related [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	5 years	5 years
Cost	71,504	71,047
Accumulated Amortization	(54,745)	(44,274)
Total	16,759	26,773
Contract-based [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	6 years	6 years
Cost	6,555	6,555
Accumulated Amortization	(6,555)	(6,555)
Total	0	0
Customer-related [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life	13 years	13 years
Cost	399,011	388,505
Accumulated Amortization	(113,301)	(82,019)
Total	$ 285,710	$ 306,486

XML

Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Condensed Consolidating Statement Of Cash Flows [Line Items]
Net cash provided by operating activities	$ 489,452	$ 506,920	$ 468,229
Cash flows from investing activities:
Acquisitions	(35,192)	(983)	(769,513)
Net of cash acquired from acquisitions	304	0	36,113
Purchase of non-controlling interest in non-public companies	(5,000)	0	(2,250)
Earnout payments	0	0	(250)
Escrow funding associated with acquisitions	0	0	(38,800)
Proceeds from release of acquisition related escrows	0	280	1,455
Proceeds from sale of subsidiary	151,170	0	0
Investment in subsidiaries	0	0
Intercompany dividends received from subsidiaries	0
Repayments received from other subsidiaries	0
Repayments received from other subsidiaries		0	0
Advances provided to other subsidiaries	0	0	0
Capital expenditures	(146,818)	(145,976)	(74,373)
Purchases of available-for-sale securities	(203)	(5,870)	(1,784)
Proceeds from sales and maturities of available-for-sale securities	513	7,484	1,932
Other investing activities, net	0	(561)	0
Net cash used in investing activities	(35,530)	(145,626)	(883,583)
Cash flows from financing activities:
Repayments of current portion of long-term debt	0	(180,000)	0
Proceeds from issuance of long-term debt, net of original issue discount	0	0	347,224
Repayments of short-term debt refinanced on a long-term basis	0	0	(347,224)
Proceeds (repayments) from short-term debt, net	160,000	(10,000)	357,224
Proceeds from issuance of intercompany common stock	0	0
Intercompany dividends paid to subsidiaries	0
Transfer of cash due to the Verisk Health, Inc. merger		0
Repayments of advances to other subsidiaries	0	0
Advances received from other subsidiaries	0	0	0
Payment of debt issuance costs	(465)	(605)	(3,905)
Repayments of advances provided to other subsidiaries			0
Excess tax benefits from exercised stock options	22,566	109,946	60,672
Proceeds from stock options exercised	24,648	80,368	68,388
Net share settlement of taxes from restricted stock awards	(1,625)	0	0
Other financing activities, net	(5,718)	(6,770)	(6,549)
Net cash (used in) provided by financing activities	(579,078)	(284,472)	313,555
Effect of exchange rate changes	(1,286)	(840)	15
(Decrease) increase in cash and cash equivalents	(126,442)	75,982	(101,784)
Cash and cash equivalents, beginning of period	165,801	89,819	191,603
Cash and cash equivalents, end of period	39,359	165,801	89,819
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO			0
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	0	0	0
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	0	0	0
Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	(778,484)	(277,411)	(162,275)
Verisk Analytics, Inc. [Member]
Schedule Of Condensed Consolidating Statement Of Cash Flows [Line Items]
Net cash provided by operating activities	104	42	(20,115)
Cash flows from investing activities:
Acquisitions	0	0	0
Purchase of non-controlling interest in non-public companies	0		(250)
Earnout payments			0
Escrow funding associated with acquisitions			0
Proceeds from release of acquisition related escrows		66	0
Proceeds from sale of subsidiary	0
Investment in subsidiaries	0	0
Intercompany dividends received from subsidiaries	0
Repayments received from other subsidiaries	20,000
Repayments received from other subsidiaries		0	19,400
Advances provided to other subsidiaries	0	(30,000)	0
Capital expenditures	0	0	0
Purchases of available-for-sale securities	0	0	0
Proceeds from sales and maturities of available-for-sale securities	0	0	0
Other investing activities, net		0
Net cash used in investing activities	20,000	(29,934)	19,150
Cash flows from financing activities:
Repayments of current portion of long-term debt		0
Proceeds from issuance of long-term debt, net of original issue discount			347,224
Repayments of short-term debt refinanced on a long-term basis			0
Proceeds (repayments) from short-term debt, net	0	0	0
Proceeds from issuance of intercompany common stock	0	0
Intercompany dividends paid to subsidiaries	0
Transfer of cash due to the Verisk Health, Inc. merger		0
Repayments of advances to other subsidiaries	(40,000)	(10,010)
Advances received from other subsidiaries	0	60,000	0
Payment of debt issuance costs	0	0	(2,557)
Repayments of advances provided to other subsidiaries			(419,812)
Excess tax benefits from exercised stock options	0	0	0
Proceeds from stock options exercised	0	0	0
Net share settlement of taxes from restricted stock awards	0
Other financing activities, net	0	0	0
Net cash (used in) provided by financing activities	(40,000)	49,990	(75,145)
Effect of exchange rate changes	0	0	0
(Decrease) increase in cash and cash equivalents	(19,896)	20,098	(76,110)
Cash and cash equivalents, beginning of period	20,226	128	76,238
Cash and cash equivalents, end of period	330	20,226	128
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO			17,000
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	778,484	277,411	162,275
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	24,648	80,368	68,388
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.		0
Verisk Analytics, Inc. [Member] | Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	0	0	0
Guarantor Subsidiaries [Member]
Schedule Of Condensed Consolidating Statement Of Cash Flows [Line Items]
Net cash provided by operating activities	336,094	287,956	329,845
Cash flows from investing activities:
Acquisitions	(5,051)	(983)	(762,596)
Purchase of non-controlling interest in non-public companies	(5,000)		(2,000)
Earnout payments			0
Escrow funding associated with acquisitions			(38,000)
Proceeds from release of acquisition related escrows		214	1,455
Proceeds from sale of subsidiary	151,170
Investment in subsidiaries	(30,609)	(350)
Intercompany dividends received from subsidiaries	114
Repayments received from other subsidiaries	224,447
Repayments received from other subsidiaries		206,282	592,356
Advances provided to other subsidiaries	(5,075)	(68,692)	(52,000)
Capital expenditures	(124,513)	(118,307)	(60,525)
Purchases of available-for-sale securities	(203)	(5,870)	(1,784)
Proceeds from sales and maturities of available-for-sale securities	513	7,484	1,932
Other investing activities, net		(561)
Net cash used in investing activities	205,793	19,217	(321,162)
Cash flows from financing activities:
Repayments of current portion of long-term debt		(180,000)
Proceeds from issuance of long-term debt, net of original issue discount			0
Repayments of short-term debt refinanced on a long-term basis			(347,224)
Proceeds (repayments) from short-term debt, net	160,000	(10,000)	357,224
Proceeds from issuance of intercompany common stock	0	0
Intercompany dividends paid to subsidiaries	0
Transfer of cash due to the Verisk Health, Inc. merger		2,877
Repayments of advances to other subsidiaries	(39,289)	(9,605)
Advances received from other subsidiaries	0	30,000	0
Payment of debt issuance costs	(465)	(605)	(1,348)
Repayments of advances provided to other subsidiaries			(19,400)
Excess tax benefits from exercised stock options	22,566	109,946	60,672
Proceeds from stock options exercised	24,648	80,368	68,388
Net share settlement of taxes from restricted stock awards	(1,625)
Other financing activities, net	(5,613)	(6,478)	(5,931)
Net cash (used in) provided by financing activities	(618,262)	(260,908)	(49,894)
Effect of exchange rate changes	(589)	(741)	(31)
(Decrease) increase in cash and cash equivalents	(76,964)	45,524	(41,242)
Cash and cash equivalents, beginning of period	81,095	35,571	76,813
Cash and cash equivalents, end of period	4,131	81,095	35,571
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO			790,174
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	778,484	277,411	162,275
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	24,648	80,368	68,388
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.		85,953
Guarantor Subsidiaries [Member] | Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	(778,484)	(277,411)	(162,275)
Non-Guarantor Subsidiaries [Member]
Schedule Of Condensed Consolidating Statement Of Cash Flows [Line Items]
Net cash provided by operating activities	153,254	218,922	158,499
Cash flows from investing activities:
Acquisitions	(30,141)	0	(6,917)
Purchase of non-controlling interest in non-public companies	0		0
Earnout payments			(250)
Escrow funding associated with acquisitions			(800)
Proceeds from release of acquisition related escrows		0	0
Proceeds from sale of subsidiary	0
Investment in subsidiaries	0	0
Intercompany dividends received from subsidiaries	0
Repayments received from other subsidiaries	19,289
Repayments received from other subsidiaries		9,605	0
Advances provided to other subsidiaries	0	0	0
Capital expenditures	(22,305)	(27,669)	(13,848)
Purchases of available-for-sale securities	0	0	0
Proceeds from sales and maturities of available-for-sale securities	0	0	0
Other investing activities, net		0
Net cash used in investing activities	(33,157)	(18,064)	(21,815)
Cash flows from financing activities:
Repayments of current portion of long-term debt		0
Proceeds from issuance of long-term debt, net of original issue discount			0
Repayments of short-term debt refinanced on a long-term basis			0
Proceeds (repayments) from short-term debt, net	0	0	0
Proceeds from issuance of intercompany common stock	30,609	350
Intercompany dividends paid to subsidiaries	(114)
Transfer of cash due to the Verisk Health, Inc. merger		(2,877)
Repayments of advances to other subsidiaries	(184,447)	(196,272)
Advances received from other subsidiaries	5,075	8,692	52,000
Payment of debt issuance costs	0	0	0
Repayments of advances provided to other subsidiaries			(172,544)
Excess tax benefits from exercised stock options	0	0	0
Proceeds from stock options exercised	0	0	0
Net share settlement of taxes from restricted stock awards	0
Other financing activities, net	(105)	(292)	(618)
Net cash (used in) provided by financing activities	(148,982)	(190,399)	(121,162)
Effect of exchange rate changes	(697)	(99)	46
(Decrease) increase in cash and cash equivalents	(29,582)	10,360	15,568
Cash and cash equivalents, beginning of period	64,480	54,120	38,552
Cash and cash equivalents, end of period	34,898	64,480	54,120
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO			773,174
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	0	0	0
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	0	0	0
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.		(85,953)
Non-Guarantor Subsidiaries [Member] | Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	0	0	0
Eliminating Entries [Member]
Schedule Of Condensed Consolidating Statement Of Cash Flows [Line Items]
Net cash provided by operating activities	0	0	0
Cash flows from investing activities:
Acquisitions	0	0	0
Purchase of non-controlling interest in non-public companies	0		0
Earnout payments			0
Escrow funding associated with acquisitions			0
Proceeds from release of acquisition related escrows		0	0
Proceeds from sale of subsidiary	0
Investment in subsidiaries	30,609	350
Intercompany dividends received from subsidiaries	(114)
Repayments received from other subsidiaries	(263,736)
Repayments received from other subsidiaries		(215,887)	(611,756)
Advances provided to other subsidiaries	5,075	98,692	52,000
Capital expenditures	0	0	0
Purchases of available-for-sale securities	0	0	0
Proceeds from sales and maturities of available-for-sale securities	0	0	0
Other investing activities, net		0
Net cash used in investing activities	(228,166)	(116,845)	(559,756)
Cash flows from financing activities:
Repayments of current portion of long-term debt		0
Proceeds from issuance of long-term debt, net of original issue discount			0
Repayments of short-term debt refinanced on a long-term basis			0
Proceeds (repayments) from short-term debt, net	0	0	0
Proceeds from issuance of intercompany common stock	(30,609)	(350)
Intercompany dividends paid to subsidiaries	114
Transfer of cash due to the Verisk Health, Inc. merger		0
Repayments of advances to other subsidiaries	263,736	215,887
Advances received from other subsidiaries	(5,075)	(98,692)	(52,000)
Payment of debt issuance costs	0	0	0
Repayments of advances provided to other subsidiaries			611,756
Excess tax benefits from exercised stock options	0	0	0
Proceeds from stock options exercised	0	0	0
Net share settlement of taxes from restricted stock awards	0
Other financing activities, net	0	0	0
Net cash (used in) provided by financing activities	228,166	116,845	559,756
Effect of exchange rate changes	0	0	0
(Decrease) increase in cash and cash equivalents	0	0	0
Cash and cash equivalents, beginning of period	0	0	0
Cash and cash equivalents, end of period	0	0	0
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO			0
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	0	0	0
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	0	0	0
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.		0
Eliminating Entries [Member] | Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	$ 0	$ 0	$ 0

XML

Acquisitions - Purchase Price Allocations of Acquisitions (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2014
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable	$ 19,731
Current assets	17,874
Fixed assets	6,145
Intangible assets	348,086
Goodwill	530,708
Other assets	26,888
Total assets acquired	949,432
Current liabilities	29,293
Deferred income taxes, net	81,080
Other liabilities	30,520
Total liabilities assumed	140,893
Net assets acquired	808,539
Maplecroft [Member]
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable		1,833
Current assets		543
Fixed assets		98
Intangible assets		13,270
Goodwill		21,369
Total assets acquired		37,113
Current liabilities		4,318
Deferred income taxes, net		2,654
Total liabilities assumed		6,972
Net assets acquired		30,141
MediConnect [Member]
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable	7,077
Current assets	17,238
Fixed assets	1,075
Intangible assets	159,506
Goodwill	222,976
Other assets	5,087
Total assets acquired	412,959
Current liabilities	15,007
Deferred income taxes, net	40,836
Other liabilities	8,711
Total liabilities assumed	64,554
Net assets acquired	348,405
Argus [Member]
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable	12,165
Current assets	568
Fixed assets	4,994
Intangible assets	179,316
Goodwill	277,857
Other assets	20,000
Total assets acquired	494,900
Current liabilities	9,661
Deferred income taxes, net	40,244
Other liabilities	20,000
Total liabilities assumed	69,905
Net assets acquired	424,995
Others [Member]
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable	489
Current assets	68
Fixed assets	76
Intangible assets	9,264
Goodwill	29,875
Other assets	1,801
Total assets acquired	41,573
Current liabilities	4,625
Deferred income taxes, net	0
Other liabilities	1,809
Total liabilities assumed	6,434
Net assets acquired	$ 35,139

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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Reconciliation Income Before Income Taxes

The following table provides the Company’s revenue and operating income performance by reportable segment for the years ended December 31, as well as a reconciliation to operating income for all periods presented in the accompanying consolidated statements of operations:

		2014									2013									2012
		Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total
Revenues	$	1,096,074			650,652		$	1,746,726		$	977,427		$	618,276		$	1,595,703		$	828,342		$	579,506		$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		508,411			208,187			716,598			427,978			194,545			622,523			334,280			182,428			516,708
Selling, general and administrative		153,453			73,853			227,306			151,557			77,425			228,982			139,122			80,946			220,068
Investment income and others		—			(158	)		(158	)		16			(625	)		(609	)		22			(128	)		(106	)
EBITDA from discontinued operations		(55,588	)		—			(55,588	)		(15,466	)		—			(15,466	)		(24,737	)		—			(24,737	)
EBITDA		489,798			368,770			858,568			413,342			346,931			760,273			379,655			316,260			695,915
Depreciation and amortization of fixed assets		64,826			20,680			85,506			51,739			14,451			66,190			33,106			13,531			46,637
Amortization of intangible assets		56,517			353			56,870			63,388			353			63,741			52,207			—			52,207
Investment income and others		—			158			158			(16	)		625			609			(22	)		128			106
EBITDA from discontinued operations		55,588			—			55,588			15,466			—			15,466			24,737			—			24,737
Operating income	$	312,867		$	347,579		$	660,446		$	282,765		$	331,502		$	614,267		$	269,627		$	302,601		$	572,228

Operating Segment Revenue by Type of Service

Operating segment revenue by type of service is provided below for the years ended December 31:

	2014		2013		2012
Decision Analytics
Insurance	$	598,757	$	539,150	$	493,456
Financial services		96,763		81,113		26,567
Healthcare		315,628		271,538		222,955
Specialized markets		84,926		85,626		85,364
Total Decision Analytics		1,096,074		977,427		828,342
Risk Assessment
Industry-standard insurance programs		495,065		471,130		450,646
Property-specific rating and underwriting information		155,587		147,146		128,860
Total Risk Assessment		650,652		618,276		579,506
Total consolidated revenues	$	1,746,726	$	1,595,703	$	1,407,848

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 400,042	$ 348,380	$ 329,142
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed assets	86,501	70,279	50,624
Amortization of intangible assets	56,982	64,299	53,575
Amortization of debt issuance costs and original issue discount	2,638	2,713	2,337
Allowance for doubtful accounts	1,814	2,482	1,065
KSOP compensation expense	15,351	14,930	13,111
Stock based compensation	20,253	21,087	24,696
Gain on sale of subsidiary	(65,410)	0	0
Realized (gain) loss on securities, net	(257)	92	332
Deferred income taxes	24,491	44,140	63,261
Loss on disposal of fixed assets	1,048	628	597
Excess tax benefits from exercised stock options	(22,566)	(109,946)	(60,672)
Other operating activities, net	0	448	265
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	(54,515)	2,106	(6,425)
Prepaid expenses and other assets	(9,625)	(2,386)	550
Income taxes	13,760	39,661	83,711
Accounts payable and accrued liabilities	12,675	34,022	11,256
Fees received in advance	22,114	26,970	20,493
Pension and postretirement benefits	(14,802)	(11,392)	(105,829)
Other liabilities	(1,042)	(41,593)	(13,860)
Net cash provided by operating activities	489,452	506,920	468,229
Cash flows from investing activities:
Acquisitions, net of cash acquired of $304, $0 and $36,113, respectively	(35,192)	(983)	(769,513)
Purchase of non-controlling interest in non-public companies	(5,000)	0	(2,250)
Proceeds from sale of subsidiary	151,170	0	0
Earnout payments	0	0	(250)
Escrow funding associated with acquisitions	0	0	(38,800)
Proceeds from release of acquisition related escrows	0	280	1,455
Capital expenditures	(146,818)	(145,976)	(74,373)
Purchases of available-for-sale securities	(203)	(5,870)	(1,784)
Proceeds from sales and maturities of available-for-sale securities	513	7,484	1,932
Other investing activities, net	0	(561)	0
Net cash used in investing activities	(35,530)	(145,626)	(883,583)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of original issue discount	0	0	347,224
Repayments of current portion of long-term debt	0	(180,000)	0
Repayments of short-term debt refinanced on a long-term basis	0	0	(347,224)
Proceeds (repayments) from short-term debt, net	160,000	(10,000)	357,224
Payment of debt issuance costs	(465)	(605)	(3,905)
Net share settlement of taxes from restricted stock awards	(1,625)	0	0
Excess tax benefits from exercised stock options	22,566	109,946	60,672
Proceeds from stock options exercised	24,648	80,368	68,388
Other financing activities, net	(5,718)	(6,770)	(6,549)
Net cash (used in) provided by financing activities	(579,078)	(284,472)	313,555
Effect of exchange rate changes	(1,286)	(840)	15
(Decrease) increase in cash and cash equivalents	(126,442)	75,982	(101,784)
Cash and cash equivalents, beginning of period	165,801	89,819	191,603
Cash and cash equivalents, end of period	39,359	165,801	89,819
Supplemental disclosures:
Taxes paid	205,498	126,846	47,516
Interest paid	67,231	75,084	60,977
Non-cash investing and financing activities:
Deferred tax liability established on the date of acquisitions	2,654	1,187	80,979
Tenant improvement allowance	9,134	0	0
Capital lease obligations	6,044	10,512	3,869
Capital expenditures included in accounts payable and accrued liabilities	76	5,960	4,946
Increase in goodwill due to acquisition related escrow distributions	0	0	5,934
Verisk Class A [Member]
Cash flows from financing activities:
Repurchases of Class A common stock	(778,484)	(277,411)	(162,275)
Non-cash investing and financing activities:
Repurchases of Class A common stock included in accounts payable and accrued liabilities	$ 0	$ 3,038	$ 1,511

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Acquisitions - Amounts Assigned to Intangible Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2012
Business Acquisition, Contingent Consideration [Line Items]
Weighted Average Useful Life	10 years	11 years
Total intangible assets	$ 13,270	$ 348,086
Technology-based [Member]
Business Acquisition, Contingent Consideration [Line Items]
Weighted Average Useful Life	10 years	10 years
Total intangible assets	3,202	77,936
Marketing-related [Member]
Business Acquisition, Contingent Consideration [Line Items]
Weighted Average Useful Life	10 years	5 years
Total intangible assets	458	30,331
Customer-related [Member]
Business Acquisition, Contingent Consideration [Line Items]
Weighted Average Useful Life	10 years	13 years
Total intangible assets	$ 9,610	$ 239,819

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Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Short-Term and Long-Term Debt

The following table presents short-term and long-term debt by issuance as of December 31:

	Issuance Date	Maturity Date		2014		2013
Short-term debt and current portion of long-term debt:
Syndicated revolving credit facility	Various	Various	$	160,000	$	—
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		17,500		—
6.28% Series I shelf notes	4/29/2008	4/29/2015		85,000		—
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		17,500		—
6.35% Series B shelf notes	4/29/2008	4/29/2015		50,000		—
Capital lease obligations	Various	Various		6,058		4,448
Short-term debt and current portion of long-term debt				336,058		4,448
Long-term debt:
Senior notes:
4.125% senior notes, less unamortized discount of $2,137 and $2,415 as of December 31, 2014 and 2013, respectively	9/12/2012	9/12/2022		347,863		347,585
4.875% senior notes, less unamortized discount of $1,361, and $1,699 as of December 31, 2014 and 2013, respectively	12/8/2011	1/15/2019		248,639		248,301
5.80% senior notes, less unamortized discount of $654 and $757 as of December 31, 2014 and 2013, respectively	4/6/2011	5/1/2021		449,346		449,243
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		—		17,500
6.28% Series I shelf notes	4/29/2008	4/29/2015		—		85,000
6.85% Series J shelf notes	6/15/2009	6/15/2016		50,000		50,000
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		—		17,500
6.35% Series B shelf notes	4/29/2008	4/29/2015		—		50,000
Capital lease obligations	Various	Various		5,026		6,310
Long-term debt				1,100,874		1,271,439
Total debt			$	1,436,932	$	1,275,887

Summary of Long Term Debt Maturities

The following table reflects the Company’s debt maturities:

Year	Amount
2015	$	336,058
2016		53,959
2017		770
2018		168
2019		250,050
2020 and thereafter		800,079
Total	$	1,441,084

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Related Parties

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Parties

Related Parties:

The Company considers its Class A stockholders that own more than 5% of the outstanding stock within the class to be related parties as defined within ASC 850, Related Party Disclosures. The Company had no related parties owning more than 5% of the entire class of stock as of December 31, 2014 and 2013.

In addition, the Company had no revenues from related parties for the years ended December 31, 2014, 2013 and 2012.

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Segment Reporting

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

ASC 280-10, Disclosures About Segments of an Enterprise and Related Information (“ASC 280-10”), establishes standards for reporting information about operating segments. ASC 280-10 requires that a public business enterprise reports financial and descriptive information about its reportable operating segments. Operating segments are components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s President and CEO is identified as the CODM as defined by ASC 280-10. To align with the internal management of the Company’s business operations based on service offerings, the Company is organized into the following two operating segments, which are also the Company’s reportable segments:

Decision Analytics: The Company develops solutions that its customers use to analyze key processes in managing risk. The Company’s combination of algorithms and analytic methods incorporates its proprietary data to generate solutions. In most cases, the Company’s customers integrate the solutions into their models, formulas or underwriting criteria in order to predict potential loss events, ranging from hurricanes and earthquakes to unanticipated healthcare claims. The Company develops catastrophe and extreme event models and offers solutions covering natural and man-made risks, including acts of terrorism. The Company also develops solutions that allow customers to quantify costs after loss events occur. Fraud solutions include data on claim histories, analysis of claims to find emerging patterns of fraud, and identification of suspicious claims in the insurance and healthcare sectors.

On March 11, 2014, the Company sold the Company's mortgage services business, Interthinx. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. Refer to Note 10 for more information.

Risk Assessment: The Company is the leading provider of statistical, actuarial and underwriting data for the U.S. P&C insurance industry. The Company’s databases include cleansed and standardized records describing premiums and losses in insurance transactions, casualty and property risk attributes for commercial buildings and their occupants and fire suppression capabilities of municipalities. The Company uses this data to create policy language and proprietary risk classifications that are industry standards and to generate prospective loss cost estimates used to price insurance policies.

The two aforementioned operating segments represent the segments for which separate discrete financial information is available and upon which operating results are regularly evaluated by the CODM in order to assess performance and allocate resources. The Company uses EBITDA as the profitability measure for making decisions regarding ongoing operations. EBITDA is net income before interest expense, provision for income taxes, depreciation and amortization of fixed and intangible assets. Operating expenses consist of direct and indirect costs principally related to personnel, facilities, software license fees, consulting, travel, and third-party information services. Indirect costs are generally allocated to the segments using fixed rates established by management based upon estimated expense contribution levels and other assumptions that management considers reasonable. The Company does not allocate interest expense and provision for income taxes, since these items are not considered in evaluating the segment’s overall operating performance. The CODM does not evaluate the financial performance of each segment based on assets. On a geographic basis, no individual country outside of the U.S. accounted for 1.00% or more of the Company’s consolidated revenue for the years ended December 31, 2014, 2013 or 2012. No individual country outside of the U.S. accounted for 3.00% or more of total consolidated long-term assets as of December 31, 2014 and 1.00% as of December 31, 2013.

The following table provides the Company’s revenue and operating income performance by reportable segment for the years ended December 31, as well as a reconciliation to operating income for all periods presented in the accompanying consolidated statements of operations:

		2014									2013									2012
		Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total			Decision Analytics			Risk Assessment			Total
Revenues	$	1,096,074			650,652		$	1,746,726		$	977,427		$	618,276		$	1,595,703		$	828,342		$	579,506		$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		508,411			208,187			716,598			427,978			194,545			622,523			334,280			182,428			516,708
Selling, general and administrative		153,453			73,853			227,306			151,557			77,425			228,982			139,122			80,946			220,068
Investment income and others		—			(158	)		(158	)		16			(625	)		(609	)		22			(128	)		(106	)
EBITDA from discontinued operations		(55,588	)		—			(55,588	)		(15,466	)		—			(15,466	)		(24,737	)		—			(24,737	)
EBITDA		489,798			368,770			858,568			413,342			346,931			760,273			379,655			316,260			695,915
Depreciation and amortization of fixed assets		64,826			20,680			85,506			51,739			14,451			66,190			33,106			13,531			46,637
Amortization of intangible assets		56,517			353			56,870			63,388			353			63,741			52,207			—			52,207
Investment income and others		—			158			158			(16	)		625			609			(22	)		128			106
EBITDA from discontinued operations		55,588			—			55,588			15,466			—			15,466			24,737			—			24,737
Operating income	$	312,867		$	347,579		$	660,446		$	282,765		$	331,502		$	614,267		$	269,627		$	302,601		$	572,228

Operating segment revenue by type of service is provided below for the years ended December 31:

	2014		2013		2012
Decision Analytics
Insurance	$	598,757	$	539,150	$	493,456
Financial services		96,763		81,113		26,567
Healthcare		315,628		271,538		222,955
Specialized markets		84,926		85,626		85,364
Total Decision Analytics		1,096,074		977,427		828,342
Risk Assessment
Industry-standard insurance programs		495,065		471,130		450,646
Property-specific rating and underwriting information		155,587		147,146		128,860
Total Risk Assessment		650,652		618,276		579,506
Total consolidated revenues	$	1,746,726	$	1,595,703	$	1,407,848

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Pension and Postretirement Benefits - Summary of Changes in Fair Value of Pension Plans (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance at January 1	$ 635	$ 1,022
Realized and unrealized loss on plan assets, net	(395)	(387)
Balance at December 31	$ 240	$ 635

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Investments - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Investments in private equity securities accounted for under cost method investment	$ 8,487	$ 3,602

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Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following is a reconciliation of the numerators and denominators of the basic and diluted EPS computations for the years ended December 31:

	2014		2013		2012
	(In thousands, except for share and per share data)
Numerator used in basic and diluted EPS:
Income from continuing operations	$	370,865	$	342,314	$	317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively		29,177		6,066		11,679
Net income	$	400,042	$	348,380	$	329,142
Denominator:
Weighted average number of common shares used in basic EPS		165,823,803		168,031,412		165,890,258
Effect of dilutive shares:
Potential common stock issuable from stock options and stock awards		3,308,620		4,244,948		5,819,260
Weighted average number of common shares and dilutive potential common shares used in diluted EPS		169,132,423		172,276,360		171,709,518

Summary of Accumulated Other Comprehensive Losses

The following is a summary of accumulated other comprehensive losses as of December 31:

	2014			2013
Foreign currency translation adjustment	$	(3,086	)	$	(1,800	)
Unrealized losses on available-for-sale securities, net of tax		(110	)		(75	)
Pension and postretirement adjustment, net of tax		(77,318	)		(41,613	)
Accumulated other comprehensive losses	$	(80,514	)	$	(43,488	)

The pre-tax components included within accumulated other comprehensive losses as of December 31 are summarized below:

	Pension Plan and SERP				Postretirement Plan
	2014		2013		2014			2013
Prior service benefit	$	—	$	—	$	(1,000	)	$	(1,147	)
Actuarial losses		120,735		62,226		8,321			9,208
Accumulated other comprehensive losses, pretax	$	120,735	$	62,226	$	7,321		$	8,061

Schedule of Amounts Recognized in Other Comprehensive Income

The before tax and after tax amounts of other comprehensive income for the years ended December 31, 2014, 2013 and 2012 are summarized below:

	Before Tax			Tax Benefit (Expense)			After Tax
December 31, 2014
Foreign currency translation adjustment	$	(1,286	)	$	—		$	(1,286	)
Unrealized loss on available-for-sale securities before reclassifications		(314	)		121			(193	)
Amount reclassified from accumulated other comprehensive losses (1)		257			(99	)		158
Unrealized loss on available-for-sale securities		(57	)		22			(35	)
Pension and postretirement adjustment before reclassifications		(56,635	)		21,629			(35,006	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(1,134	)		435			(699	)
Pension and postretirement adjustment		(57,769	)		22,064			(35,705	)
Total other comprehensive loss	$	(59,112	)	$	22,086		$	(37,026	)
December 31, 2013
Foreign currency translation adjustment	$	(840	)	$	—		$	(840	)
Unrealized loss on available-for-sale securities before reclassifications		(1,122	)		433			(689	)
Amount reclassified from accumulated other comprehensive losses (1)		882			(340	)		542
Unrealized loss on available-for-sale securities		(240	)		93			(147	)
Pension and postretirement adjustment before reclassifications		80,773			(30,611	)		50,162
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(5,699	)		2,196			(3,503	)
Pension and postretirement adjustment		75,074			(28,415	)		46,659
Total other comprehensive income	$	73,994		$	(28,322	)	$	45,672
December 31, 2012
Foreign currency translation adjustment	$	15		$	—		$	15
Unrealized loss on available-for-sale securities before reclassifications		(727	)		316			(411	)
Amount reclassified from accumulated other comprehensive losses (1)		346			(132	)		214
Unrealized loss on available-for-sale securities		(381	)		184			(197	)
Pension and postretirement adjustment before reclassifications		(13,082	)		4,865			(8,217	)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses (2)		(4,001	)		1,527			(2,474	)
Pension and postretirement adjustment		(17,083	)		6,392			(10,691	)
Total other comprehensive loss	$	(17,449	)	$	6,576		$	(10,873	)

(1) This accumulated other comprehensive losses component, before tax, is included under “Investment income and others” in the accompanying consolidated statements of operations.

(2) This accumulated other comprehensive losses component, before tax, is included under “Cost of revenues” and “Selling, general and administrative” in the accompanying consolidated statements of operations. This component is also included in the computation of net periodic benefit (credit) cost (see Note 17. Pension and Postretirement Benefits for additional details).

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies:

The Company’s operations are conducted on leased premises. Approximate minimum rentals under long-term noncancelable leases for all leased premises, computer equipment and automobiles are as follows:

Years Ending	Operating Leases		Capital Leases
2015	$	37,958	$	6,295
2016		38,506		4,076
2017		37,350		791
2018		29,074		181
2019		31,775		59
2020 and thereafter		260,033		85
Net minimum lease payments	$	434,696		11,487
Less amount representing interest				403
Present value of net minimum lease capital payments			$	11,084

Most of the leases require payment of property taxes and utilities and, in certain cases, contain renewal options. Operating leases consist of office space. Capital leases consist of computer equipment, office equipment, and leased automobiles. Rent expense on operating leases approximated $35,149, $32,186 and $29,618 in 2014, 2013 and 2012, respectively.

In addition, the Company is a party to legal proceedings with respect to a variety of matters in the ordinary course of business, including the matters described below. With respect to ongoing matters, the Company is unable, at the present time, to determine the ultimate resolution of or provide a reasonable estimate of the range of possible loss attributable to these matters or the impact they may have on the Company’s results of operations, financial position or cash flows. This is primarily because the matters are generally in early stages and discovery has either not commenced or been completed. Although the Company believes it has strong defenses and intends to vigorously defend these matters, the Company could in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations, financial position or cash flows.

Interthinx, Inc. Litigation

On May 13, 2013, the Company was served with a putative class action titled Celeste Shaw v. Interthinx, Inc., Verisk Analytics, Inc. and Jeffrey Moyer. The plaintiff is a current employee of the Company’s former subsidiary Interthinx, Inc. based in Colorado, who filed the class action in the United States District Court for the District of Colorado on behalf of all fraud detection employees who have worked for Interthinx for the last three years nationwide and who were classified as exempt employees. The class complaint claims that the fraud detection employees were misclassified as exempt employees and, as a result, were denied certain wages and benefits that would have been received if they were properly classified as non-exempt employees. It pleads three causes of action against defendants: (1) Collective Action under section 216(b) of the Fair Labor Standards Act for unpaid overtime (nationwide class); (2) A Fed. R. Civ. P. 23 class action under the Colorado Wage Act and Wage Order for unpaid overtime and (3) A Fed. R. Civ. P. 23 class action under Colorado Wage Act for unpaid commissions/nondiscretionary bonuses (Colorado class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, declaratory and injunctive relief interest, costs and attorneys’ fees.

On July 2, 2013, the Company was served with a putative class action titled Shabnam Shelia Dehdashtian v. Interthinx, Inc. and Verisk Analytics, Inc. in the United States District Court for the Central District of California. The plaintiff, Shabnam Shelia Dehdashtian, a former mortgage auditor at the Company’s former subsidiary Interthinx, Inc. in California, filed the class action on behalf of all persons who have been employed by Interthinx as auditors, mortgage compliance underwriters and mortgage auditors nationwide at any time (i) within 3 years prior to the filing of this action until trial for the Fair Labor Standards Act (FLSA) class and (ii) within 4 years prior to the filing of the initial complaint until trial for the California collective action. The class complaint claims that the defendants failed to pay overtime compensation, to provide rest and meal periods, waiting time penalties and to provide accurate wage statements to the plaintiffs as required by federal and California law. It pleads seven causes of action against defendants: (1) Failure to pay overtime compensation in violation of the FLSA for unpaid overtime (nationwide class); (2) Failure to pay overtime compensation in violation of Cal. Lab. Code sections 510, 1194 and 1198 and IWC Wage Order No. 4; (3) Failure to pay waiting time penalties in violation of Cal. Lab. Code sections 201-203; (4) Failure to provide itemized wage statements in violation of Cal. Lab. Code section 226 and IWC Order No. 4; (5) Failure to provide and or authorize meal and rest periods in violation of Cal. Lab. Code section 226.7 and IWC Order No. 4; (6) Violation of California Business and Professions Code sections 17200 et seq; and (7) a Labor Code Private Attorney General Act (PAGA) Public enforcement claim, Cal. Lab. Code section 2699 (California class). The complaint seeks compensatory damages, penalties that are associated with the various statutes, equitable and injunctive relief, interest, costs and attorneys’ fees.

On October 14, 2013, the Company received notice of a claim titled Dejan Nagl v. Interthinx Services, Inc. filed in the California Labor and Workforce Development Agency. The claimant, Dejan Nagl, a former mortgage auditor at the Company’s former subsidiary Interthinx, Inc. in California, filed the claim on behalf of himself and all current and former individuals employed in California as auditors by Interthinx, Inc. for violations of the California Labor Code and Wage Order. The claimant alleges on behalf of himself and other auditors the following causes of action: (1) Failure to provide rest breaks and meal periods in violation of Cal. Lab. Code sections 226.7, 514 and 1198; (2) Failure to pay overtime wages in violation of Cal. Lab. Code sections 510 and 1194; (3) Failure to provide accurate wage statements in violation of Cal. Lab. Code section 226; (4) Failure to timely pay wages in violation of Cal. Lab. Code section 204; and (5) Failures to timely pay wages for violations of Cal. Lab. Code sections 201- 203. The claim seeks compensatory damages and penalties that are associated with the various statutes, costs and attorneys’ fees.

On March 11, 2014, the Company sold 100 percent of the stock of Interthinx (see Note 6 Discontinued Operations for additional details). Pursuant to the terms of the sale agreement, the Company is responsible for the resolution of these matters. In October 2014, the parties agreed to a Joint Stipulation of Settlement and Release resolving the Shaw, Dehdashtian and Nagl matters which provides for a payment of $6,000, the majority of which is to be paid by insurance. The United States District Court for the District of Colorado granted Preliminary Approval of the Joint Stipulation of Settlement and Release on November 21, 2014 and scheduled the Final Fairness Hearing for April 3, 2015.

Mariah Re Litigation

On July 8, 2013, the Company was served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Mariah Re LTD. v. American Family Mutual Insurance Company, ISO Services, Inc. and AIR Worldwide Corporation, which was amended by the plaintiff on October 18, 2013 (the “Amended Complaint”). Plaintiff Mariah is a special purpose vehicle established to provide reinsurance to defendant American Family Insurance. Mariah entered into contracts with our ISO Services, Inc. and AIR Worldwide Corporation subsidiaries, pursuant to which, among other things, Mariah (i) licensed the right to utilize information published in Catastrophe Bulletins issued by the Property Claims Services division of ISO Services, Inc. and (ii) engaged AIR Worldwide Corporation as Calculation Agent to compute certain reinsured losses. The Amended Complaint alleges the following causes of action: (1) breach of contract against ISO Services, Inc, AIR Worldwide Corporation, and American Family; (2) unjust enrichment against American Family; (3) conversion against American Family; (4) tortious interference with contract against American Family; (5) declaratory judgment against all defendants and (6) specific performance against all defendants. The Amended Complaint seeks declaratory relief, specific performance, restitution, monetary damages and attorneys’ fees.

On November 20, 2013, the three defendants filed motions to dismiss the Amended Complaint.

On September 30, 2014, the District Court granted defendants’ motions and dismissed the Amended Complaint in its entirety, with prejudice. Mariah filed a Notice of Appeal on October 28, 2014. Briefing of the appeal was completed on February 13, 2015.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

MediConnect Global, Inc. Litigation

On October 11, 2013, the Company was served with a summons and complaint in an action titled Naveen Trehan v. MediConnect Global, Inc., Amy Anderson and Verisk Health, Inc. filed on October 9, 2013 in the United States District Court for the District of Utah. The complaint, brought by a former minority shareholder of the Company’s subsidiary, MediConnect Global, Inc., arises from MediConnect’s buyout of Naveen Trehan and his family members’ shares on October 15, 2010. Plaintiff claims that the sale of the shares was based on MediConnect’s representations concerning third parties that had expressed interest in an acquisition, merger or investment in MediConnect at that time. Plaintiff claims that MediConnect did not disclose the Company, which purchased MediConnect on March 23, 2012, as a possible suitor. The complaint alleges four causes of action: (1) Breach of fiduciary duty against MediConnect and Amy Anderson for failure to disclose the Company's interest in acquiring, merging with or investing in MediConnect prior to the buyout of his shares; (2) Fraud against  Amy Anderson and MediConnect for intentionally providing false information to plaintiff with the purpose of inducing him to agree to sell his shares at an artificially low price; (3) Negligent misrepresentation against Amy Anderson and MediConnect for their negligent failure to discover and disclose the Company's interest in acquiring MediConnect prior to the buyout of plaintiff’s shares and (4) a Violation of SEC Rule 10b-5 against Amy Anderson and MediConnect for defrauding plaintiff and failing to disclose material information in connection with the sale of securities.  The complaint seeks joint and several recovery from Amy Anderson and MediConnect for compensatory damages, punitive damages, and disgorgement of all profits earned through the investment of plaintiff’s funds, attorneys’ fees, interest and an order from the court that plaintiff’s funds be held in a constructive trust.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

Insurance Services Office, Inc. Litigation

In October 2013, the Company was served with a summons and complaint filed in the United States District Court for the Southern District of New York in an action titled Laurence J. Skelly and Ellen Burke v. Insurance Services Office, Inc. and the Pension Plan for Insurance Organizations. The plaintiffs, former employees of the Company's subsidiary Insurance Services Office, Inc. ("ISO"), bring the action on their own behalf as participants in the Pension Plan for Insurance Organizations and on the behalf of similarly situated participants of the pension plan and ask the court to declare that a certain amendment to the pension plan as of December 31, 2001, which terminated their right to calculate and define the value of their retirement benefit under the pension plan based on their compensation levels as of immediately prior to their “retirement” (the “Unlawful Amendment”), violated the anti-cutback provisions and equitable principles of ERISA. The First Amended Class Action Complaint (the “Amended Complaint”) alleges that (1) the Unlawful Amendment of the pension plan violated Section 502(a)(1)(B) of ERISA as well as the anti-cutback rules of ERISA Section 204(g) and Section 411(d)(6) of the Internal Revenue Code; (2) ISO’s failure to provide an ERISA 204(h) notice in a manner calculated to be understood by the average pension plan participant was a violation of Sections 204(h) and 102(a) of ERISA; and (3) the Living Pension Right was a contract right under ERISA common law and that by terminating that right through the Unlawful Amendment ISO violated plaintiffs’ common law contract rights under ERISA. The Amended Complaint seeks declaratory, equitable and injunctive relief enjoining the enforcement of the Unlawful Amendment and ordering the pension plan and ISO retroactive to the date of the Unlawful Amendment to recalculate the accrued benefits of all class members, indemnification from ISO to the pension plan for costs and contribution requirements related to voiding the Unlawful Amendment, bonuses to the class representatives, costs and attorney’s fees. On September 12, 2014, the District Court granted ISO’s motion to dismiss the Amended Complaint finding that ISO provided ample, clear and sufficient notice of the 2002 Amendment to the Plan and that plaintiffs’ claims were time barred. Plaintiffs filed their Notice of Appeal on October 14, 2014 and all briefing of the appeal is complete.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to, this matter.

On August 1, 2014 the Company was served with an Amended Complaint filed in the United States District Court for the District of Colorado titled Snyder, et. al. v. ACORD Corp., et al. The action is brought by nineteen individual plaintiffs, on their own behalf and on behalf of a putative class, against more than 120 defendants, including the Company and its subsidiary, Insurance Services Office, Inc. ("ISO"). Except for the Company, ISO and the defendant Acord Corporation, which provides standard forms to assist in insurance transactions, most of the other defendants are property and casualty insurance companies that plaintiffs claim conspired to underpay property damage claims. Plaintiffs claim that the Company and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law. On September 8, 2014, the Court entered an Order striking the Amended Complaint and granting leave to the plaintiffs to file a new complaint. On October 13, 2014, plaintiffs filed their Second Amended Complaint that continues to allege that the defendants conspired to underpay property damage claims, but does not specifically allege what role the Company or ISO played in the alleged conspiracy. The Second Amended Complaint similarly alleges that the Company and ISO, along with all of the other defendants, violated state and federal antitrust and racketeering laws as well as state common law, and seeks all available relief including, injunctive, statutory, actual and punitive damages as well as attorneys’ fees.

At this time, it is not possible to determine the ultimate resolution of, or estimate the liability related to this matter.

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries

12 Months Ended

Dec. 31, 2014

Condensed Consolidated Financial Information For Guarantor Subsidiaries And Non Guarantor Subsidiaries [Abstract]

Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries

Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries

In 2013 and 2012, the Parent Company registered senior notes with full and unconditional and joint and several guarantees by certain of its 100 percent wholly-owned subsidiaries and issued certain other debt securities with full and unconditional and joint and several guarantees by certain of its subsidiaries. Accordingly, presented below is condensed consolidating financial information for (i) the Parent Company, (ii) the guarantor subsidiaries of the Parent Company on a combined basis, and (iii) all other non-guarantor subsidiaries of the Parent Company on a combined basis, as of December 31, 2014 and 2013 and for the years ended December 31, 2014, 2013 and 2012. The condensed consolidating financial information has been presented using the equity method of accounting, to show the nature of assets held, results of operations, comprehensive income and cash flows of the Parent Company, the guarantor subsidiaries and the non-guarantor subsidiaries assuming all guarantor subsidiaries provide both full and unconditional, and joint and several, guarantees to the Parent Company at the beginning of the periods presented. Effective as of December 31, 2014, ISO Strategic Solutions, ("ISOST"), a non-guarantor of the senior notes, merged with and into Insurance Services Office, Inc. ("ISO"), a guarantor of the senior notes, pursuant to which ISO is the surviving corporation and remains a guarantor of the senior notes. As a result, the condensed consolidated balance sheet of ISOST at December 31, 2014 was reclassified from the financial information of the non-guarantor subsidiaries to that of the guarantor subsidiaries. On March 11, 2014, the Company sold 100% of the stock of Company’s mortgage services business, Interthinx, Inc., a guarantor of the senior notes.  Upon the sale, Interthinx, Inc. was relieved of all its guarantees of the senior notes. Effective as of December 31, 2013, Verisk Health, Inc. and Verisk Health Solutions, Inc., guarantors of the senior notes, merged with and into Bloodhound Technologies, Inc. ("Bloodhound"), a non-guarantor of the senior notes, pursuant to which Verisk Health, Inc. (formerly Bloodhound) was the surviving corporation. By virtue of the merger, the surviving corporation of Verisk Health, Inc. expressly assumed all of the obligations of the former Verisk Health, Inc. and Verisk Health Solutions, Inc., including the guarantee by them of the senior notes. As a result, the condensed consolidated balance sheet of the former Bloodhound subsidiary at December 31, 2013 was reclassified from the financial information of the non-guarantor subsidiaries to that of the guarantor subsidiaries.

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

	Verisk Analytics,  Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	330	$	4,131	$	34,898	$	—		$	39,359
Available-for-sale securities		—		3,801		—		—			3,801
Accounts receivable, net		—		148,944		71,724		—			220,668
Prepaid expenses		—		27,433		4,063		—			31,496
Deferred income taxes, net		—		3,334		1,438		—			4,772
Income taxes receivable		20,180		71,376		—		(26,044	)		65,512
Intercompany receivables		706,138		1,250,827		194,565		(2,151,530	)		—
Other current assets		5,147		13,352		376		—			18,875
Total current assets		731,795		1,523,198		307,064		(2,177,574	)		384,483
Noncurrent assets:
Fixed assets, net		—		258,238		44,035		—			302,273
Intangible assets, net		—		58,887		347,589		—			406,476
Goodwill		—		498,075		709,071		—			1,207,146
Investment in subsidiaries		1,772,222		909,565		—		(2,681,787	)		—
Pension assets		—		18,589		—		—			18,589
Other assets		6,684		18,918		761		—			26,363
Total assets	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	14,220	$	120,058	$	46,448	$	—		$	180,726
Short-term debt and current portion of long-term debt		—		335,993		65		—			336,058
Pension and postretirement benefits, current		—		1,894		—		—			1,894
Fees received in advance		—		212,765		39,827		—			252,592
Intercompany payables		1,239,590		888,752		23,188		(2,151,530	)		—
Income taxes payable		—		—		26,044		(26,044	)		—
Total current liabilities		1,253,810		1,559,462		135,572		(2,177,574	)		771,270
Noncurrent liabilities:
Long-term debt		1,045,848		54,729		297		—			1,100,874
Pension and postretirement benefits		—		16,215		—		—			16,215
Deferred income taxes, net		—		82,340		120,200		—			202,540
Other liabilities		—		40,795		2,593		—			43,388
Total liabilities		2,299,658		1,753,541		258,662		(2,177,574	)		2,134,287
Total stockholders’ equity		211,043		1,531,929		1,149,858		(2,681,787	)		211,043
Total liabilities and stockholders’ equity	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2013

	Verisk Analytics, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	20,226	$	81,095	$	64,480	$	—		$	165,801
Available-for-sale securities		—		3,911		—		—			3,911
Accounts receivable, net		—		99,578		58,969		—			158,547
Prepaid expenses		—		22,582		3,075		—			25,657
Deferred income taxes, net		—		—		5,086		(9	)		5,077
Income taxes receivable		20,045		66,274		—		(18,973	)		67,346
Intercompany receivables		633,128		525,286		202,018		(1,360,432	)		—
Other current assets		5,144		26,835		2,702		—			34,681
Current assets held-for-sale		—		12,421		883		521			13,825
Total current assets		678,543		837,982		337,213		(1,378,893	)		474,845
Noncurrent assets:
Fixed assets, net		—		198,112		35,261		—			233,373
Intangible assets, net		—		67,407		380,211		—			447,618
Goodwill		—		493,053		688,628		—			1,181,681
Investment in subsidiaries		1,375,128		848,124		—		(2,223,252	)		—
Pension assets		—		60,955		—		—			60,955
Other assets		7,789		11,356		889		—			20,034
Noncurrent assets held-for-sale		—		85,945		—		—			85,945
Total assets	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	22,233	$	102,477	$	63,554	$	—		$	188,264
Short-term debt and current portion of long-term debt		—		4,341		107		—			4,448
Pension and postretirement benefits, current		—		2,437		—		—			2,437
Fees received in advance		—		192,524		34,057		—			226,581
Intercompany payables		446,509		793,517		120,406		(1,360,432	)		—
Deferred income taxes, net		—		9		—		(9	)		—
Income taxes payable		—		—		18,973		(18,973	)		—
Current liabilities held-for-sale		—		8,928		—		521			9,449
Total current liabilities		468,742		1,104,233		237,097		(1,378,893	)		431,179
Noncurrent liabilities:
Long-term debt		1,045,129		225,950		360		—			1,271,439
Pension and postretirement benefits		—		15,068		—		—			15,068
Deferred income taxes, net		—		70,897		127,707		—			198,604
Other liabilities		—		31,809		4,234		—			36,043
Noncurrent liabilities held-for-sale		—		4,529		—		—			4,529
Total liabilities		1,513,871		1,452,486		369,398		(1,378,893	)		1,956,862
Total stockholders’ equity		547,589		1,150,448		1,072,804		(2,223,252	)		547,589
Total liabilities and stockholders’ equity	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2014

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,440,093		$	357,249		$	(50,616	)	$	1,746,726
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			568,858			189,507			(41,767	)		716,598
Selling, general and administrative		—			186,937			49,218			(8,849	)		227,306
Depreciation and amortization of fixed assets		—			72,254			13,252			—			85,506
Amortization of intangible assets		—			10,085			46,785			—			56,870
Total expenses		—			838,134			298,762			(50,616	)		1,086,280
Operating income		—			601,959			58,487			—			660,446
Other income (expense):
Investment income and others		51			398			(291	)		—			158
Interest expense		(54,550	)		(15,401	)		(33	)		—			(69,984	)
Total other expense, net		(54,499	)		(15,003	)		(324	)		—			(69,826	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,499	)		586,956			58,163			—			590,620
Provision for income taxes		20,180			(222,147	)		(17,788	)		—			(219,755	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,319	)		364,809			40,375			—			370,865
Income (loss) from discontinued operations, net of tax		—			29,322			(145	)		—			29,177
Equity in net income of subsidiaries		434,361			32,532			—			(466,893	)		—
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,259,884		$	355,165		$	(19,346	)	$	1,595,703
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			451,393			179,196			(8,066	)		622,523
Selling, general and administrative		1			183,717			56,544			(11,280	)		228,982
Depreciation and amortization of fixed assets		—			52,248			13,942			—			66,190
Amortization of intangible assets		—			13,593			50,148			—			63,741
Total expenses		1			700,951			299,830			(19,346	)		981,436
Operating (loss) income		(1	)		558,933			55,335			—			614,267
Other income (expense):
Investment income and others		43			636			(70	)		—			609
Interest expense		(54,551	)		(21,571	)		(14	)		—			(76,136	)
Total other expense, net		(54,508	)		(20,935	)		(84	)		—			(75,527	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,509	)		537,998			55,251			—			538,740
Provision for income taxes		20,045			(198,464	)		(18,007	)		—			(196,426	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,464	)		339,534			37,244			—			342,314
Income (loss) from discontinued operations, net of tax		—			6,230			(164	)		—			6,066
Equity in net income of subsidiaries		382,844			29,262			—			(412,106	)		—
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,162,134		$	266,427		$	(20,713	)	$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			401,724			125,111			(10,127	)		516,708
Selling, general and administrative		—			174,324			56,330			(10,586	)		220,068
Depreciation and amortization of fixed assets		—			36,898			9,739			—			46,637
Amortization of intangible assets		—			17,943			34,264			—			52,207
Total expenses		—			630,889			225,444			(20,713	)		835,620
Operating income		—			531,245			40,983			—			572,228
Other income (expense):
Investment income and others		44			(130	)		192			—			106
Interest expense		(42,848	)		(29,619	)		(41	)		—			(72,508	)
Total other (expense) income, net		(42,804	)		(29,749	)		151			—			(72,402	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(42,804	)		501,496			41,134			—			499,826
Provision for income taxes		15,833			(183,025	)		(15,171	)		—			(182,363	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(26,971	)		318,471			25,963			—			317,463
Income from discontinued operations, net of tax		—			11,679			—			—			11,679
Equity in net income of subsidiaries		356,113			19,159			—			(375,272	)		—
Net income	$	329,142		$	349,309		$	25,963		$	(375,272	)	$	329,142

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For The Years Ended December 31, 2014, 2013 and 2012

	December 31, 2014
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(1,286	)		(589	)		(697	)		1,286			(1,286	)
Unrealized holding loss on available-for-sale securities		(35	)		(35	)		—			35			(35	)
Pension and postretirement adjustment		(35,705	)		(35,705	)		—			35,705			(35,705	)
Total other comprehensive loss		(37,026	)		(36,329	)		(697	)		37,026			(37,026	)
Comprehensive income	$	363,016		$	390,334		$	39,533		$	(429,867	)	$	363,016

	December 31, 2013
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(840	)		(778	)		(99	)		877			(840	)
Unrealized holding loss on available-for-sale securities		(147	)		(147	)		—			147			(147	)
Pension and postretirement adjustment		46,659			46,659			—			(46,659	)		46,659
Total other comprehensive income (loss)		45,672			45,734			(99	)		(45,635	)		45,672
Comprehensive income	$	394,052		$	420,760		$	36,981		$	(457,741	)	$	394,052

	December 31, 2012
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
Net income	$	329,142		$	349,309		$	25,963	$	(375,272	)	$	329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		15			172			46		(218	)		15
Unrealized holding loss on available-for-sale securities		(197	)		(197	)		—		197			(197	)
Pension and postretirement adjustment		(10,691	)		(10,691	)		—		10,691			(10,691	)
Total other comprehensive (loss) income		(10,873	)		(10,716	)		46		10,670			(10,873	)
Comprehensive income	$	318,269		$	338,593		$	26,009	$	(364,602	)	$	318,269

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2014

		Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
		(In thousands)
Net cash provided by operating activities	$	104		$	336,094		$	153,254		$	—		$	489,452
Cash flows from investing activities:
Acquisitions, net of cash acquired of $304		—			(5,051	)		(30,141	)		—			(35,192	)
Purchase of non-controlling equity investments in non-public companies		—			(5,000	)		—			—			(5,000	)
Proceeds from sale of subsidiary		—			151,170			—			—			151,170
Investment in subsidiaries		—			(30,609	)		—			30,609			—
Intercompany dividends received from subsidiaries		—			114			—			(114	)		—
Repayments received from other subsidiaries		20,000			224,447			19,289			(263,736	)		—
Advances provided to other subsidiaries		—			(5,075	)		—			5,075			—
Capital expenditures		—			(124,513	)		(22,305	)		—			(146,818	)
Purchases of available-for-sale securities		—			(203	)		—			—			(203	)
Proceeds from sales and maturities of available-for-sale securities		—			513			—			—			513
Net cash provided by (used in) investing activities		20,000			205,793			(33,157	)		(228,166	)		(35,530	)
Cash flows from financing activities:
Proceeds from short-term debt, net		—			160,000			—			—			160,000
Proceeds from issuance of intercompany common stock		—			—			30,609			(30,609	)		—
Intercompany dividends paid to subsidiaries		—			—			(114	)		114			—
Repurchases of Class A common stock		—			(778,484	)		—			—			(778,484	)
Repayments of advances to other subsidiaries		(40,000	)		(39,289	)		(184,447	)		263,736			—
Advances received from other subsidiaries		—			—			5,075			(5,075	)		—
Payment of debt issuance costs		—			(465	)		—			—			(465	)
Excess tax benefits from exercised stock options		—			22,566			—			—			22,566
Proceeds from stock options exercised		—			24,648			—			—			24,648
Net share settlement of taxes from restricted stock awards		—			(1,625	)		—			—			(1,625	)
Other financing activities, net		—			(5,613	)		(105	)		—			(5,718	)
Net cash used in financing activities		(40,000	)		(618,262	)		(148,982	)		228,166			(579,078	)
Effect of exchange rate changes		—			(589	)		(697	)		—			(1,286	)
Decrease in cash and cash equivalents		(19,896	)		(76,964	)		(29,582	)		—			(126,442	)
Cash and cash equivalents, beginning of period		20,226			81,095			64,480			—			165,801
Cash and cash equivalents, end of period	$	330		$	4,131		$	34,898		$	—		$	39,359
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	778,484		$	778,484		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	24,648		$	24,648		$	—		$	—		$	—

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash provided by operating activities	$	42		$	287,956		$	218,922		$	—		$	506,920
Cash flows from investing activities:
Acquisitions		—			(983	)		—			—			(983	)
Investment in subsidiaries		—			(350	)		—			350			—
Proceeds from release of acquisition related escrows		66			214			—			—			280
Repayments received from other subsidiaries		—			206,282			9,605			(215,887	)		—
Advances provided to other subsidiaries		(30,000	)		(68,692	)		—			98,692			—
Capital expenditures		—			(118,307	)		(27,669	)		—			(145,976	)
Purchases of available-for-sale securities		—			(5,870	)		—			—			(5,870	)
Proceeds from sales and maturities of available-for-sale securities		—			7,484			—			—			7,484
Other investing, net		—			(561	)		—			—			(561	)
Net cash (used in) provided by investing activities		(29,934	)		19,217			(18,064	)		(116,845	)		(145,626	)
Cash flows from financing activities:
Repayment of current portion of long-term debt		—			(180,000	)		—			—			(180,000	)
Repayments of short-term debt, net		—			(10,000	)		—			—			(10,000	)
Proceeds from issuance of common stock		—			—			350			(350	)		—
Repurchases of Class A common stock		—			(277,411	)		—			—			(277,411	)
Transfer of cash due to the Verisk Health, Inc. merger		—			2,877			(2,877	)		—			—
Repayments of advances to other subsidiaries		(10,010	)		(9,605	)		(196,272	)		215,887			—
Advances received from other subsidiaries		60,000			30,000			8,692			(98,692	)		—
Payment of debt issuance costs		—			(605	)		—			—			(605	)
Excess tax benefits from exercised stock options		—			109,946			—			—			109,946
Proceeds from stock options exercised		—			80,368			—			—			80,368
Other financing activities, net		—			(6,478	)		(292	)		—			(6,770	)
Net cash provided by (used in) financing activities		49,990			(260,908	)		(190,399	)		116,845			(284,472	)
Effect of exchange rate changes		—			(741	)		(99	)		—			(840	)
Increase in cash and cash equivalents		20,098			45,524			10,360			—			75,982
Cash and cash equivalents, beginning of period		128			35,571			54,120			—			89,819
Cash and cash equivalents, end of period	$	20,226		$	81,095		$	64,480		$	—		$	165,801
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	277,411		$	277,411		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	80,368		$	80,368		$	—		$	—		$	—
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.	$	—		$	85,953		$	(85,953	)	$	—		$	—

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(20,115	)	$	329,845		$	158,499		$	—		$	468,229
Cash flows from investing activities:
Acquisitions, net of cash acquired of $36,113		—			(762,596	)		(6,917	)		—			(769,513	)
Purchase of non-controlling equity investments in non-public companies		(250	)		(2,000	)		—			—			(2,250	)
Earnout payments		—			—			(250	)		—			(250	)
Escrow funding associated with acquisitions		—			(38,000	)		(800	)		—			(38,800	)
Proceeds from release of acquisition related escrows		—			1,455			—			—			1,455
Repayments received from other subsidiaries		19,400			592,356			—			(611,756	)		—
Advances provided to other subsidiaries		—			(52,000	)		—			52,000			—
Capital expenditures		—			(60,525	)		(13,848	)		—			(74,373	)
Purchases of available-for-sale securities		—			(1,784	)		—			—			(1,784	)
Proceeds from sales and maturities of available-for-sale securities		—			1,932			—			—			1,932
Net cash provided by (used in) investing activities		19,150			(321,162	)		(21,815	)		(559,756	)		(883,583	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of original issue discount		347,224			—			—			—			347,224
Repayment of short-term debt refinanced on a long-term basis		—			(347,224	)		—			—			(347,224	)
Proceeds from short-term debt, net		—			357,224			—			—			357,224
Payment of debt issuance costs		(2,557	)		(1,348	)		—			—			(3,905	)
Repurchases of Class A common stock		—			(162,275	)		—			—			(162,275	)
Repayments of advances provided to other subsidiaries		(419,812	)		(19,400	)		(172,544	)		611,756			—
Advances received from other subsidiaries		—			—			52,000			(52,000	)		—
Excess tax benefits from exercised stock options		—			60,672			—			—			60,672
Proceeds from stock options exercised		—			68,388			—			—			68,388
Other financing activities, net		—			(5,931	)		(618	)		—			(6,549	)
Net cash used in financing activities		(75,145	)		(49,894	)		(121,162	)		559,756			313,555
Effect of exchange rate changes		—			(31	)		46			—			15
(Decrease) increase in cash and cash equivalents		(76,110	)		(41,242	)		15,568			—			(101,784	)
Cash and cash equivalents, beginning of period		76,238			76,813			38,552			—			191,603
Cash and cash equivalents, end of period	$	128		$	35,571		$	54,120		$	—		$	89,819
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO	$	17,000		$	790,174		$	773,174		$	—		$	—
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	162,275		$	162,275		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	68,388		$	68,388		$	—		$	—		$	—

**************

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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Treasury stock, shares acquired	10,802,087	4,532,552
Tax benefit of stock options exercised	$ 15,438	$ 57,065	$ 88,185
Shares reissued from treasury stock	1,091,746	4,076,750	6,880,678
Other stock issuances, shares	3,975	8,109	4,777
Number of Stock Issued During Period Shares Stock Options Exercised Net Of Taxes	27,159	0	0
Restricted Stock [Member]
Tax benefit of stock options exercised	$ 550	$ 991	$ 202
Shares reissued from treasury stock	134,713	150,668	41,908
Employee Stock Purchase Plan [Member]
Shares reissued from treasury stock	26,953	27,879	6,074
Verisk Class A [Member]
Treasury stock, shares acquired	10,802,087	4,532,552	3,491,591

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Schedule II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Reserves

Schedule II

Valuation and Qualifying Accounts and Reserves

For the Years Ended December 31, 2014, 2013 and 2012

(In thousands)

Description		Balance at Beginning of Year		Charged to Expenses (1)		Deductions— Write-offs(2)			Adjustment (3)			Balance at End of Year
Year ended December 31, 2014
Allowance for doubtful accounts	$	4,415	$	1,814	$	(161	)	$	(73	)	$	5,995
Valuation allowance for income taxes	$	741	$	48	$	—		$	—		$	789
Year ended December 31, 2013
Allowance for doubtful accounts	$	4,753	$	2,468	$	(2,284	)	$	(522	)	$	4,415
Valuation allowance for income taxes	$	595	$	673	$	(527	)	$	—		$	741
Year Ended December 31, 2012
Allowance for doubtful accounts	$	4,158	$	1,065	$	(470	)	$	—		$	4,753
Valuation allowance for income taxes	$	1,615	$	73	$	(1,093	)	$	—		$	595

(1) Primarily additional reserves for bad debts

(2) Primarily accounts receivable balances written off, net of recoveries, and the expiration of loss carryforwards

(3) Related to discontinued operations

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Stockholders' Equity (Deficit) - Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Before Tax
Foreign currency translation adjustment	$ (1,286)		$ (840)		$ 15
Unrealized loss on available-for-sale securities before reclassifications	(314)		(1,122)		(727)
Amount reclassified from accumulated other comprehensive loss	257	[1]	882	[1]	346	[1]
Unrealized loss on available-for-sale securities	(57)		(240)		(381)
Pension and postretirement adjustment before reclassifications	(56,635)		80,773		(13,082)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses	(1,134)	[2]	(5,699)	[2]	(4,001)	[2]
Pension and postretirement adjustment	(57,769)		75,074		(17,083)
Total other comprehensive loss	(59,112)		73,994		(17,449)
Tax Benefit (Expense)
Foreign currency translation adjustment	0		0		0
Unrealized loss on available-for-sale securities before reclassifications	121		433		316
Amount reclassified from accumulated other comprehensive loss	(99)	[1]	(340)	[1]	(132)	[1]
Unrealized loss on available-for-sale securities	22		93		184
Pension and postretirement adjustment before reclassifications	21,629		(30,611)		4,865
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses	435	[2]	2,196	[2]	1,527	[2]
Pension and postretirement adjustment	22,064		(28,415)		6,392
Total other comprehensive loss	22,086		(28,322)		6,576
After Tax
Foreign currency translation adjustment	(1,286)		(840)		15
Unrealized loss on available-for-sale securities before reclassifications	(193)		(689)		(411)
Amount reclassified from accumulated other comprehensive loss	158	[1]	542	[1]	214	[1]
Unrealized loss on available-for-sale securities	(35)		(147)		(197)
Pension and postretirement adjustment before reclassifications	(35,006)		50,162		(8,217)
Amortization of net actuarial loss and prior service benefit reclassified from accumulated other comprehensive losses	(699)	[2]	(3,503)	[2]	(2,474)	[2]
Pension and postretirement adjustment	(35,705)		46,659		(10,691)
Total other comprehensive income (loss)	$ (37,026)		$ 45,672		$ (10,873)

[1] This accumulated other comprehensive losses component, before tax, is included under “Investment income and others” in the accompanying consolidated statements of operations.

[2] This accumulated other comprehensive losses component, before tax, is included under “Cost of revenues” and “Selling, general and administrative” in the accompanying consolidated statements of operations. This component is also included in the computation of net periodic benefit (credit) cost (see Note 17. Pension and Postretirement Benefits for additional details).

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Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following is a summary of the change in goodwill from December 31, 2012 through December 31, 2014, both in total and as allocated to the Company’s operating segments:

	Risk Assessment		Decision Analytics			Total
Goodwill at December 31, 2012 (1)	$	55,555	$	1,191,904		$	1,247,459
Current year acquisitions		—		705			705
Purchase accounting reclassifications		—		2,724			2,724
Discontinued operations (Note 10)		—		(69,207	)		(69,207	)
Goodwill at December 31, 2013 (1)		55,555		1,126,126			1,181,681
Current year acquisitions		—		22,740			22,740
Acquisition related escrow funding		—		2,725			2,725
Goodwill at December 31, 2014 (1)	$	55,555	$	1,151,591		$	1,207,146

(1) These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

Intangible Assets and Related Accumulated Amortization

The Company’s intangible assets and related accumulated amortization consisted of the following:

	Weighted Average Useful Life	Cost		Accumulated Amortization			Net
December 31, 2014
Technology-based	8 years	$	299,705	$	(195,698	)	$	104,007
Marketing-related	5 years		71,504		(54,745	)		16,759
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		399,011		(113,301	)		285,710
Total intangible assets		$	776,775	$	(370,299	)	$	406,476
December 31, 2013
Technology-based	8 years	$	294,940	$	(180,581	)	$	114,359
Marketing-related	5 years		71,047		(44,274	)		26,773
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		388,505		(82,019	)		306,486
Total intangible assets		$	761,047	$	(313,429	)	$	447,618

Estimated Amortization Expense

Estimated amortization expense in future periods through 2020 and thereafter for intangible assets subject to amortization is as follows:

Year		Amount
2015	$	52,268
2016		50,436
2017		49,532
2018		48,786
2019		47,326
2020 and thereafter		158,128
Total	$	406,476

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Accounts Receivable - Summary of Accounts Receivable (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables	$ 226,663	$ 162,962
Less allowance for doubtful accounts	(5,995)	(4,415)
Accounts receivable, net	220,668	158,547
Billed receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables	203,339	143,059
Unbilled receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables	$ 23,324	$ 19,903

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Income Taxes - Summary of Deferred Tax Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred income tax asset:
Employee wages, pension and other benefits	$ 29,756	$ 26,113
Deferred revenue	1,835	1,835
Deferred rent	5,463	4,342
Net operating loss carryover	4,292	8,247
State tax adjustments	2,472	1,639
Capital and other unrealized losses	3,255	3,301
Other	4,956	6,720
Total	52,029	52,197
Less valuation allowance	(789)	(741)
Deferred income tax asset	51,240	51,456
Deferred income tax liability:
Fixed assets and intangible assets	(242,857)	(223,639)
Other	(6,151)	(21,344)
Deferred income tax liability	(249,008)	(244,983)
Deferred income tax liability, net	$ (197,768)	$ (193,527)

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CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 39,359		$ 165,801
Available-for-sale securities	3,801		3,911
Accounts receivable, net	220,668		158,547
Prepaid expenses	31,496		25,657
Deferred income taxes, net	4,772		5,077
Income taxes receivable	65,512		67,346
Other current assets	18,875		34,681
Current assets held-for-sale	0		13,825
Total current assets	384,483		474,845
Noncurrent assets:
Fixed assets, net	302,273		233,373
Intangible assets, net	406,476		447,618
Goodwill	1,207,146	[1]	1,181,681	[1]
Pension assets	18,589		60,955
Other assets	26,363		20,034
Noncurrent assets held-for-sale	0		85,945
Total assets	2,345,330		2,504,451
Current liabilities:
Accounts payable and accrued liabilities	180,726		188,264
Short-term debt and current portion of long-term debt	336,058		4,448
Pension and postretirement benefits, current	1,894		2,437
Fees received in advance	252,592		226,581
Current liabilities held-for-sale	0		9,449
Total current liabilities	771,270		431,179
Noncurrent liabilities:
Long-term debt	1,100,874		1,271,439
Pension benefits	13,805		13,007
Postretirement benefits	2,410		2,061
Deferred income taxes, net	202,540		198,604
Other liabilities	43,388		36,043
Noncurrent liabilities held-for-sale	0		4,529
Total liabilities	2,134,287		1,956,862
Commitments and contingencies
Stockholders’ equity:
Unearned KSOP contributions	(161)		(306)
Additional paid-in capital	1,171,196		1,202,106
Treasury stock, at cost, 386,089,811 and 376,545,111 shares, respectively	(2,533,764)		(1,864,967)
Retained earnings	1,654,149		1,254,107
Accumulated other comprehensive losses	(80,514)		(43,488)
Total stockholders’ equity	211,043		547,589
Total liabilities and stockholders’ equity	2,345,330		2,504,451
Verisk Class A [Member]
Stockholders’ equity:
Verisk Class A common stock, $.001 par value; 1,200,000,000 shares authorized; 544,003,038 shares issued and 157,913,227 and 167,457,927 shares outstanding, respectively	$ 137		$ 137

[1] These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

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Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value of Stock Options Granted Using Black- Scholes Valuation Model

The fair value of the stock options granted was estimated on the date of grant using a Black-Scholes option valuation model that uses the weighted-average assumptions noted in the following table during the years ended December 31:

	2014			2013			2012
Option pricing model		Black-Scholes			Black-Scholes			Black-Scholes
Expected volatility		20.53	%		29.27	%		32.22	%
Risk-free interest rate		1.48	%		0.70	%		0.90	%
Expected term in years		4.4			4.5			4.7
Dividend yield		—	%		—	%		—	%
Weighted average grant date fair value per stock option	$	11.86		$	15.58		$	13.59

Options Outstanding Under Incentive Plan and Option Plan

A summary of options outstanding under the Incentive Plan and the Option Plan and changes during the three years then ended is presented below:

	Number of Options			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
	(In thousands, except for share and per share data)
Outstanding at January 1, 2012		18,896,405		$	16.55	$	445,510
Granted		973,124		$	47.38
Exercised		(6,880,678	)	$	9.09	$	257,391
Cancelled or expired		(415,553	)	$	19.30
Outstanding at December 31, 2012		12,573,298		$	22.21	$	361,653
Granted		888,038		$	61.10
Exercised		(4,076,750	)	$	19.79	$	168,056
Cancelled or expired		(149,266	)	$	43.14
Outstanding at December 31, 2013		9,235,320		$	26.67	$	360,611
Granted		1,242,428		$	59.83
Exercised		(1,091,746	)	$	22.29	$	43,863
Cancelled or expired		(180,312	)	$	55.23
Outstanding at December 31, 2014		9,205,690		$	31.11	$	303,267
Options exercisable at December 31, 2014		7,159,895		$	24.00	$	286,728
Options exercisable at December 31, 2013		7,169,089		$	20.98	$	320,766

Summary of Nonvested Options

A summary of the status of the Company’s nonvested options and changes is presented below:

	Number of Options			Weighted Average Grant-Date Fair Value Per Share
Nonvested balance at January 1, 2012		6,743,094		$	7.52
Granted		973,124		$	13.59
Vested		(3,524,363	)	$	7.38
Cancelled or expired		(415,553	)	$	5.62
Nonvested balance at December 31, 2012		3,776,302		$	9.43
Granted		888,038		$	15.58
Vested		(2,448,843	)	$	8.81
Cancelled or expired		(149,266	)	$	12.18
Nonvested balance at December 31, 2013		2,066,231		$	12.61
Granted		1,242,428		$	11.86
Vested		(1,082,552	)	$	11.71
Cancelled or expired		(180,312	)	$	13.56
Nonvested balance at December 31, 2014		2,045,795		$	12.55

Summary of Restricted Stock Activity Under Incentive Plan

A summary of the status of the restricted stock awarded under the 2013 Incentive Plan and changes is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Outstanding at January 1, 2012		145,634		$	33.32
Granted		244,397		$	47.10
Vested		(41,120	)	$	34.51
Forfeited		(17,898	)	$	43.27
Outstanding at December 31, 2012		331,013		$	42.78
Granted		241,674		$	61.12
Vested		(150,668	)	$	37.82
Forfeited		(25,270	)	$	53.00
Outstanding at December 31, 2013		396,749		$	52.82
Granted		246,003		$	59.86
Vested		(163,280	)	$	49.94
Forfeited		(37,162	)	$	55.53
Outstanding at December 31, 2014		442,310		$	56.84

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Pension and Postretirement Benefits - Summary of Estimated Future Benefit Payments for Respective Plans (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Pension Plan and SERP Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Gross benefit amount, 2015	$ 29,256
Gross benefit amount, 2016	30,070
Gross benefit amount, 2017	30,303
Gross benefit amount, 2018	30,223
Gross benefit amount, 2019	30,692
Gross benefit amount, 2020-2024	149,595
Postretirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Gross benefit amount, 2015	2,825
Gross benefit amount, 2016	2,660
Gross benefit amount, 2017	2,480
Gross benefit amount, 2018	2,291
Gross benefit amount, 2019	2,093
Gross benefit amount, 2020-2024	7,587
Medicare subsidy payments, 2015	(395)
Medicare subsidy payments, 2016	(387)
Medicare subsidy payments, 2017	(378)
Medicare subsidy payments, 2018	(368)
Medicare subsidy payments, 2019	(358)
Medicare subsidy payments, 2020-2024	(1,601)
Net benefit amount, 2015	2,430
Net benefit amount, 2016	2,273
Net benefit amount, 2017	2,102
Net benefit amount, 2018	1,923
Net benefit amount, 2019	1,735
Net benefit amount, 2020-2024	$ 5,986

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 400,042	$ 348,380	$ 329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(1,286)	(840)	15
Unrealized holding loss on available-for-sale securities	(35)	(147)	(197)
Pension and postretirement adjustment	(35,705)	46,659	(10,691)
Total other comprehensive (loss) income	(37,026)	45,672	(10,873)
Comprehensive income	$ 363,016	$ 394,052	$ 318,269

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Pension and Postretirement Benefits - Summary of Accumulated Other Comprehensive Losses Recognized in Net Periodic Benefit (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Amortization of prior service benefit	$ (146)
Amortization of net actuarial loss	3,568
Total	3,422
Pension Plan and SERP Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Amortization of prior service benefit	0	0	(133)
Amortization of net actuarial loss	2,969
Total	2,969
Postretirement Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Amortization of prior service benefit	(146)	(146)	(146)
Amortization of net actuarial loss	599
Total	$ 453

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Fixed Assets - Summary of Fixed Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	679,835	542,572
Accumulated Depreciation and Amortization	(377,562)	(309,199)
Net	302,273	233,373
Furniture and office equipment [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	199,199	179,564
Accumulated Depreciation and Amortization	(131,055)	(105,262)
Net	68,144	74,302
Furniture and office equipment [Member] | Minimum [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Useful Life	3 years	3 years
Furniture and office equipment [Member] | Maximum [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Useful Life	10 years	10 years
Leasehold improvements [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	65,212	38,796
Accumulated Depreciation and Amortization	(27,884)	(22,022)
Net	37,328	16,774
Leasehold improvements, Useful Life	Lease term	Lease term
Purchased software [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	116,089	89,064
Accumulated Depreciation and Amortization	(80,794)	(65,753)
Net	35,295	23,311
Useful Life	3 years	3 years
Software development costs [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	266,559	201,192
Accumulated Depreciation and Amortization	(111,766)	(91,656)
Net	154,793	109,536
Useful Life	3 years	3 years
Leased equipment [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Cost	32,776	33,956
Accumulated Depreciation and Amortization	(26,063)	(24,506)
Net	6,713	9,450
Leased equipment [Member] | Minimum [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Useful Life	3 years	3 years
Leased equipment [Member] | Maximum [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Useful Life	4 years	4 years

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Pension and Postretirement Benefits - Summary of Fair Value Measurements of Pension Plan Assets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Equity
Managed equity accounts	$ 83,690	[1]	$ 110,852	[1]
Equity - pooled separate account	186,102	[2]	200,947	[2]
Equity - partnerships	240	[3]	635	[3]
Debt
Fixed income manager - pooled separate account	196,034	[2]	165,157	[2]
Fixed income manager - government securities	15,231	[4]	16,601	[4]
Other
Cash - pooled separate account	9,215	[2]	(9,679)	[2]
Total	490,512		484,513
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Equity
Managed equity accounts	83,690	[1]	110,852	[1]
Equity - pooled separate account	0	[2]	0	[2]
Equity - partnerships	0	[3]	0	[3]
Debt
Fixed income manager - pooled separate account	0	[2]	0	[2]
Fixed income manager - government securities	15,231	[4]	16,601	[4]
Other
Cash - pooled separate account	0	[2]	0	[2]
Total	98,921		127,453
Significant Other Observable Inputs (Level 2) [Member]
Equity
Managed equity accounts	0	[1]	0	[1]
Equity - pooled separate account	186,102	[2]	200,947	[2]
Equity - partnerships	0	[3]	0	[3]
Debt
Fixed income manager - pooled separate account	196,034	[2]	165,157	[2]
Fixed income manager - government securities	0	[4]	0	[4]
Other
Cash - pooled separate account	9,215	[2]	(9,679)	[2]
Total	391,351		356,425
Significant Unobservable Inputs (Level 3) [Member]
Equity
Managed equity accounts	0	[1]	0	[1]
Equity - pooled separate account	0	[2]	0	[2]
Equity - partnerships	240	[3]	635	[3]
Debt
Fixed income manager - pooled separate account	0	[2]	0	[2]
Fixed income manager - government securities	0	[4]	0	[4]
Other
Cash - pooled separate account	0	[2]	0	[2]
Total	$ 240		$ 635

[1] Valued at the closing price of shares for domestic stocks within the managed equity accounts, and valued at the net asset value (“NAV”) of shares for mutual funds at either the closing price reported in the active market or based on yields currently available on comparable securities of issuers with similar credit ratings for corporate bonds held by the Pension Plan in these managed accounts.

[2] The pooled separate accounts invest in domestic and foreign stocks, bonds and mutual funds. The fair values of these stocks, bonds and mutual funds are publicly quoted and are used in determining the NAV of the pooled separate account, which is not publicly quoted.

[3] Investments for which readily determinable prices do not exist are valued by the General Partner using either the market or income approach. In establishing the estimated fair value of investments, including those without readily determinable values, the General Partner assumes a reasonable period of time for liquidation of the investment, and takes into consideration the financial condition and operating results of the underlying portfolio company, nature of investment, restrictions on marketability, holding period, market conditions, foreign currency exposures, and other factors the General Partner deems appropriate.

[4] The fund invested in the U.S. government, its agencies or instrumentalities or securities that are rated AAA by S&P, AAA by Fitch, or Aaa by Moody’s, including but not limited to mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage backed securities, and valued at the closing price reported in the active market.

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Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Securities

Available-for-sale securities consisted of the following:

		Adjusted Cost		Gross Unrealized Loss			Fair Value
December 31, 2014
Registered investment companies	$	4,045	$	(244	)	$	3,801
December 31, 2013
Registered investment companies	$	4,098	$	(187	)	$	3,911

Realized Gain/(Loss) on Securities, Net

Realized gain (loss) on securities, net, including write downs related to other-than-temporary impairments of available-for-sale securities and other assets, has been included in "Investment income and others" in the accompanying consolidated statements of operations. Realized gain (loss) on securities, net, was as follows for the years ended December 31:

		2014			2013			2012
Gross realized gain on sale of registered investment securities	$	285		$	966		$	420
Other-than-temporary impairment of registered investment securities		(28	)		(84	)		(74	)
Other-than-temporary impairment of non-controlling interest in non-public companies		—			(974	)		(678	)
Realized gain (loss) on securities, net	$	257		$	(92	)	$	(332	)

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Discontinued Operations (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended	12 Months Ended
	Mar. 11, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 11, 2014
Revenues from discontinued operations
Gain (loss) from disposal of discontinued operation, before income tax		$ 65,410	$ 0	$ 0
Provision for income taxes (including tax on the gain on sale in 2014)		(25,305)	(4,753)	(7,703)
Income from discontinued operations, net of tax		29,177	6,066	11,679
Assets and liabilities held-for-sale
Goodwill			69,207
Total current liabilities held-for-sale		0	9,449
Total noncurrent liabilities held-for-sale		0	4,529
Interthinx [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of subsidiary stock for sale	100.00%				100.00%
Purchase price	151,170
Revenues from discontinued operations
Revenues from discontinued operations		11,512	109,151	126,472
Income from discontinued operations before income taxes (including gain on sale of $65,410 in 2014)		54,482	10,819	19,382
Provision for income taxes (including tax on the gain on sale in 2014)		(25,305)	(4,753)	(7,703)
Income from discontinued operations, net of tax		29,177	6,066	11,679
Assets and liabilities held-for-sale
Accounts receivable, net			15,295
Income taxes payable			(3,005)
Other current assets			1,535
Total current assets held-for-sale			13,825
Fixed assets, net			7,670
Intangible assets, net			9,018
Goodwill			69,207
Other assets			50
Total noncurrent assets held-for-sale			85,945
Accounts payable and accrued liabilities			8,272
Fees received in advance			1,177
Total current liabilities held-for-sale			9,449
Deferred income taxes, net			3,975
Other liabilities			554
Total noncurrent liabilities held-for-sale			$ 4,529

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Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes:

The components of the provision for income taxes from continuing operations for the years ended December 31 were as follows:

	2014			2013		2012
Current:
Federal and foreign	$	169,153		$	135,215	$	111,713
State and local		26,333			18,764		8,442
Total current provision for income taxes		195,486			153,979		120,155
Deferred:
Federal and foreign		27,009			38,160		56,036
State and local		(2,740	)		4,287		6,172
Total deferred provision for income taxes		24,269			42,447		62,208
Provision for income taxes	$	219,755		$	196,426	$	182,363

The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory tax rate is as follows for the years ended December 31:

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of federal tax benefit	2.7	%	2.6	%	1.7	%
Non-deductible KSOP expenses	0.9	%	0.9	%	0.9	%
Other	(1.4	)%	(2.0	)%	(1.1	)%
Effective tax rate for continuing operations	37.2	%	36.5	%	36.5	%

The increase in the effective tax rate in 2014 compared to 2013 was due to greater tax benefits realized from tax planning strategies, as well as favorable audit settlements and resolution of uncertain tax positions in the prior period.

The tax effects of significant items comprising the Company’s deferred tax assets as of December 31 are as follows:

	2014			2013
Deferred income tax asset:
Employee wages, pension and other benefits	$	29,756		$	26,113
Deferred revenue		1,835			1,835
Deferred rent		5,463			4,342
Net operating loss carryover		4,292			8,247
State tax adjustments		2,472			1,639
Capital and other unrealized losses		3,255			3,301
Other		4,956			6,720
Total		52,029			52,197
Less valuation allowance		(789	)		(741	)
Deferred income tax asset		51,240			51,456
Deferred income tax liability:
Fixed assets and intangible assets		(242,857	)		(223,639	)
Other		(6,151	)		(21,344	)
Deferred income tax liability		(249,008	)		(244,983	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

The deferred income liability has been classified in “Deferred income taxes, net” in the accompanying consolidated balance sheets as of December 31, as follows:

	2014			2013
Current deferred income tax asset, net	$	4,772		$	5,077
Non-current deferred income tax liability, net		(202,540	)		(198,604	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

The deferred income tax liability of $197,768 consists primarily of timing differences involving depreciation and amortization.

The ultimate realization of the deferred tax assets depends on the Company’s ability to generate sufficient taxable income in the future. The Company has provided for a valuation allowance against the deferred tax assets associated with the net operating losses of certain subsidiaries. The Company’s net operating loss carryforwards expire as follows:

Years	Amount
2015-2022	$	6,912
2023-2027		13,755
2028-2034		26,674
Total	$	47,341

A valuation allowance has been established based on the Company’s evaluation of the likelihood of utilizing these benefits before they expire. The Company has determined that the generation of future taxable income from certain subsidiaries to fully realize the deferred tax assets is uncertain. Other than these items, the Company has determined, based on the Company’s historical operating performance, that taxable income of the Company will more likely than not be sufficient to fully realize the deferred tax assets.

It is the practice of the Company to permanently reinvest the undistributed earnings of its foreign subsidiaries in those operations. As of December 31, 2014, the Company has not made a provision for U.S. or additional foreign withholdings taxes on approximately $12,440 of the unremitted earnings. The Company does not rely on these unremitted earnings as a source of funds for its domestic business as it expects to have sufficient cash flow in the U.S. to fund its U.S. operational and strategic needs. Consequently, the Company has not provided for U.S. federal or state income taxes or associated withholding taxes on these undistributed foreign earnings.

The Company follows ASC 740-10, which prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. For each tax position, the Company must determine whether it is more likely than not that the position will be sustained upon examination based on the technical merits of the position, including resolution of any related appeals or litigation. A tax position that meets the more likely than not recognition threshold is then measured to determine the amount of benefit to recognize within the financial statements. No benefits may be recognized for tax positions that do not meet the more likely than not threshold. A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:

	2014			2013			2012
Unrecognized tax benefit at January 1	$	9,524		$	17,883		$	17,877
Gross increase in tax positions in prior period		2,679			541			911
Gross decrease in tax positions in prior period		—			(4,241	)		(1,494	)
Gross increase in tax positions from stock acquisitions		—			—			3,304
Settlements		—			(390	)		(1,770	)
Lapse of statute of limitations		(1,566	)		(4,269	)		(945	)
Unrecognized tax benefit at December 31	$	10,637		$	9,524		$	17,883

Of the total unrecognized tax benefits at December 31, 2014, 2013 and 2012, $5,771, $4,658 and $10,103, respectively, represent the amounts that, if recognized, would have a favorable effect on the Company’s effective tax rate in any future periods.

The total gross amount of accrued interest and penalties at December 31, 2014, 2013 and 2012 was $2,818, $2,619 and $3,728, respectively. The Company’s practice is to recognize interest and penalties associated with income taxes as a component of “Provision for income taxes” in the accompanying consolidated statements of operations.

The Company does not expect a significant increase in unrecognized benefits related to federal, foreign, or state tax exposures within the coming year. In addition, the Company believes that it is reasonably possible that approximately $1,109 of its currently remaining unrecognized tax positions, each of which is individually insignificant, may be recognized by the end of 2015 as a result of a combination of audit settlements and lapses of statute of limitations, net of additional uncertain tax positions.

The Company is subject to tax in the U.S. and in various state and foreign jurisdictions. The Company joined by its domestic subsidiaries, files a consolidated income tax return for the Federal income tax purposes. With few exceptions, the Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for tax years before 2009. As a result of refunds requested through the filing of amended returns, the Internal Revenue Service is conducting an audit of the 2009 - 2011 time period.

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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Accounted at Fair Value

The following table summarizes fair value measurements by level for cash equivalents and registered investment companies that were measured at fair value on a recurring basis:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
December 31, 2014
Cash equivalents – money-market funds	$	3,707	$	—	$	3,707
Registered investment companies(1)	$	3,801	$	3,801	$	—
December 31, 2013
Cash equivalents – money-market funds	$	889	$	—	$	889
Registered investment companies(1)	$	3,911	$	3,911	$	—

(1) Registered investment companies are classified as available-for-sale securities and are valued using quoted prices in active

markets multiplied by the number of shares owned.

Schedule of Carrying Values and Estimated Fair Values of Long-Term Debt

The following table summarizes the carrying value and estimated fair value of the long-term debt as of December 31, 2014 and 2013 respectively:

	2014				2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial instrument not carried at fair value:
Long-term debt excluding capitalized leases	$	1,265,848	$	1,371,213	$	1,265,129	$	1,335,844

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Pension and Postretirement Benefits - Summary of Asset Allocation and Target Allocation (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of asset allocation and target allocation
Percentage of Plan Assets	100.00%	100.00%
Equity securities [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Target Allocation	60.00%
Summary of asset allocation and target allocation
Percentage of Plan Assets	56.80%	66.80%
Debt securities [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Target Allocation	40.00%
Summary of asset allocation and target allocation
Percentage of Plan Assets	41.30%	33.20%
Other Asset Category [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Target Allocation	0.00%
Summary of asset allocation and target allocation
Percentage of Plan Assets	1.90%	0.00%
Pension Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Target Allocation	100.00%

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Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Debt

Debt:

The following table presents short-term and long-term debt by issuance as of December 31:

	Issuance Date	Maturity Date		2014		2013
Short-term debt and current portion of long-term debt:
Syndicated revolving credit facility	Various	Various	$	160,000	$	—
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		17,500		—
6.28% Series I shelf notes	4/29/2008	4/29/2015		85,000		—
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		17,500		—
6.35% Series B shelf notes	4/29/2008	4/29/2015		50,000		—
Capital lease obligations	Various	Various		6,058		4,448
Short-term debt and current portion of long-term debt				336,058		4,448
Long-term debt:
Senior notes:
4.125% senior notes, less unamortized discount of $2,137 and $2,415 as of December 31, 2014 and 2013, respectively	9/12/2012	9/12/2022		347,863		347,585
4.875% senior notes, less unamortized discount of $1,361, and $1,699 as of December 31, 2014 and 2013, respectively	12/8/2011	1/15/2019		248,639		248,301
5.80% senior notes, less unamortized discount of $654 and $757 as of December 31, 2014 and 2013, respectively	4/6/2011	5/1/2021		449,346		449,243
Prudential shelf notes:
5.84% Series H shelf notes	10/26/2007	10/26/2015		—		17,500
6.28% Series I shelf notes	4/29/2008	4/29/2015		—		85,000
6.85% Series J shelf notes	6/15/2009	6/15/2016		50,000		50,000
New York Life shelf notes:
5.87% Series A shelf notes	10/26/2007	10/26/2015		—		17,500
6.35% Series B shelf notes	4/29/2008	4/29/2015		—		50,000
Capital lease obligations	Various	Various		5,026		6,310
Long-term debt				1,100,874		1,271,439
Total debt			$	1,436,932	$	1,275,887

Accrued interest associated with the Company’s outstanding debt obligations was $16,265 and $16,150 as of December 31, 2014 and 2013, respectively, and included in “Accounts payable and accrued liabilities” within the accompanying consolidated balance sheets. Interest expense associated with the Company’s outstanding debt obligations was $66,881, $73,068 and $69,892 for the years ended December 31, 2014, 2013 and 2012, respectively.

Senior Notes

On September 12, 2012, the Company completed an issuance of senior notes in the aggregate principal amount of $350,000. These senior notes are due on September 12, 2022 and accrue interest at a rate of 4.125% per annum. Interest is payable semi-annually on March 12th and September 12th of each year.

On December 8, 2011, the Company completed an issuance of senior notes in the aggregate principal amount of $250,000. These senior notes are due on January 15, 2019 and accrue interest at a rate of 4.875% per annum. Interest is payable semi-annually on January 15th and July 15th of each year.

On April 6, 2011, the Company completed an issuance of senior notes in the aggregate principal amount of $450,000. These senior notes are due on May 1, 2021 and accrue interest at a rate of 5.80% per annum. Interest is payable semi-annually on May 1st and November 1st of each year.

All senior notes issued by Verisk Analytics, Inc. (the "Parent Company") are fully and unconditionally guaranteed, jointly and severally, on an unsecured and unsubordinated basis by ISO, the principal operating subsidiary and certain subsidiaries that guarantee the syndicated revolving credit facility or any amendment, refinancing or replacement thereof (See Note 21. Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries for further information). The debt issuance costs are amortized from the date of issuance to the maturity date. The senior notes rank equally with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. However, the senior notes are subordinated to the indebtedness of any of the subsidiaries that do not guarantee the senior notes and are effectively subordinated to any future secured indebtedness to the extent of the value of the assets securing such indebtedness. The guarantees of the senior notes rank equally and ratably in right of payment with all other existing and future unsecured and unsubordinated indebtedness of the guarantors, and senior in right of payment to all future subordinated indebtedness of the guarantors. Because the guarantees of the senior notes are not secured, such guarantees are effectively subordinated to any existing and future secured indebtedness of the applicable guarantor to the extent of the value of the collateral securing that indebtedness. Upon a change of control event, the holders of the senior notes have the right to require the Company to repurchase all or any part of such holder’s senior notes at a purchase price in cash equal to 101% of the principal amount of the senior notes plus accrued and unpaid interest, if any, to the date of repurchase. The indenture governing the senior notes restricts the Company’s ability and its subsidiaries’ ability to, among other things, create certain liens, enter into sale/leaseback transactions and consolidate with, sell, lease, convey or otherwise transfer all or substantially all of the Company's assets, or merge with or into, any other person or entity.

Prudential Master Shelf Agreement

The Company had an uncommitted master shelf agreement with Prudential Capital Group that expired on August 30, 2013. The Company did not extend this agreement. As of December 31, 2014, $152,500 was outstanding under this agreement.

New York Life Master Shelf Agreement

The Company had an uncommitted master shelf agreement with New York Life that expired on March 16, 2013. The Company did not extend this agreement. As of December 31, 2014, $67,500 was outstanding under this agreement.

Syndicated Revolving Credit Facility

The Company has a committed senior unsecured Syndicated Revolving Credit Facility (the “Credit Facility”) with Bank of America N.A., JPMorgan Chase Bank N.A., Wells Fargo Bank N.A., SunTrust Bank, RBS Citizens N.A., Morgan Stanley Bank N.A., TD Bank N.A., Royal Bank of Canada, The Northern Trust Company, Capital One, N.A., and HSBC Bank USA, N.A. On October 21, 2014, the Company amended its Credit Facility to increase the borrowing capacity from $975,000 to $990,000 and extend the maturity date from October 24, 2018 to October 24, 2019. The Company amortizes all one-time fees and third party costs associated with the execution and amendment of this Credit Facility through the maturity date. Interest is payable at maturity at a rate of LIBOR plus 1.125% to 1.625%, depending upon the result of certain ratios defined in the credit agreement. The Credit Facility contains certain customary financial and other covenants that, among other things, require the Company to maintain certain leverage and interest coverage ratios. Verisk and ISO are co-borrowers under the Credit Facility. Borrowings may be used for general corporate purposes, including working capital, capital expenditures, acquisitions, and share repurchase programs.

As of December 31, 2014, the Company has an available borrowing capacity, net of outstanding letters of credit, of $827,874 under the Credit Facility. Borrowings may be used for general corporate purposes, including working capital and capital expenditures, acquisitions and the share repurchase program (the "Repurchase Program"). As of December 31, 2014 and 2013, the Company had $160,000 and $0 outstanding borrowings under the Credit Facility, respectively. In January and February 2015, the Company repaid a total of $140,000 of the $160,000 outstanding borrowings under the Credit Facility.

The Company was in compliance with all financial covenants at December 31, 2014.

Debt Maturities

The following table reflects the Company’s debt maturities:

Year	Amount
2015	$	336,058
2016		53,959
2017		770
2018		168
2019		250,050
2020 and thereafter		800,079
Total	$	1,441,084

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Goodwill and Intangible Assets - Estimated Amortization Expense (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 52,268
2016	50,436
2017	49,532
2018	48,786
2019	47,326
2020 and thereafter	158,128
Total	$ 406,476	$ 447,618

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 39,359		$ 165,801		$ 89,819		$ 191,603
Available-for-sale securities	3,801		3,911
Accounts receivable, net	220,668		158,547
Prepaid expenses	31,496		25,657
Deferred income taxes, net	4,772		5,077
Income taxes receivable	65,512		67,346
Intercompany receivables	0		0
Other current assets	18,875		34,681
Current assets held-for-sale	0		13,825
Total current assets	384,483		474,845
Noncurrent assets:
Fixed assets, net	302,273		233,373
Intangible assets, net	406,476		447,618
Goodwill	1,207,146	[1]	1,181,681	[1]	1,247,459	[1]
Investment in subsidiaries	0		0
Pension assets	18,589		60,955
Other assets	26,363		20,034
Noncurrent assets held-for-sale	0		85,945
Total assets	2,345,330		2,504,451
Current liabilities:
Accounts payable and accrued liabilities	180,726		188,264
Short-term debt and current portion of long-term debt	336,058		4,448
Pension and postretirement benefits, current	1,894		2,437
Fees received in advance	252,592		226,581
Intercompany payables	0		0
Deferred income taxes, net			0
Income taxes payable	0		0
Current liabilities held-for-sale	0		9,449
Total current liabilities	771,270		431,179
Noncurrent liabilities:
Long-term debt	1,100,874		1,271,439
Pension and postretirement benefits	16,215		15,068
Deferred income taxes, net	202,540		198,604
Other liabilities	43,388		36,043
Noncurrent liabilities held-for-sale	0		4,529
Total liabilities	2,134,287		1,956,862
Total stockholders’ equity	211,043		547,589		255,591		(98,490)
Total liabilities and stockholders’ equity	2,345,330		2,504,451
Verisk Analytics, Inc. [Member]
Current assets:
Cash and cash equivalents	330		20,226		128		76,238
Available-for-sale securities	0		0
Accounts receivable, net	0		0
Prepaid expenses	0		0
Deferred income taxes, net	0		0
Income taxes receivable	20,180		20,045
Intercompany receivables	706,138		633,128
Other current assets	5,147		5,144
Current assets held-for-sale			0
Total current assets	731,795		678,543
Noncurrent assets:
Fixed assets, net	0		0
Intangible assets, net	0		0
Goodwill	0		0
Investment in subsidiaries	1,772,222		1,375,128
Pension assets	0		0
Other assets	6,684		7,789
Noncurrent assets held-for-sale			0
Total assets	2,510,701		2,061,460
Current liabilities:
Accounts payable and accrued liabilities	14,220		22,233
Short-term debt and current portion of long-term debt	0		0
Pension and postretirement benefits, current	0		0
Fees received in advance	0		0
Intercompany payables	1,239,590		446,509
Deferred income taxes, net			0
Income taxes payable	0		0
Current liabilities held-for-sale			0
Total current liabilities	1,253,810		468,742
Noncurrent liabilities:
Long-term debt	1,045,848		1,045,129
Pension and postretirement benefits	0		0
Deferred income taxes, net	0		0
Other liabilities	0		0
Noncurrent liabilities held-for-sale			0
Total liabilities	2,299,658		1,513,871
Total stockholders’ equity	211,043		547,589
Total liabilities and stockholders’ equity	2,510,701		2,061,460
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	4,131		81,095		35,571		76,813
Available-for-sale securities	3,801		3,911
Accounts receivable, net	148,944		99,578
Prepaid expenses	27,433		22,582
Deferred income taxes, net	3,334		0
Income taxes receivable	71,376		66,274
Intercompany receivables	1,250,827		525,286
Other current assets	13,352		26,835
Current assets held-for-sale			12,421
Total current assets	1,523,198		837,982
Noncurrent assets:
Fixed assets, net	258,238		198,112
Intangible assets, net	58,887		67,407
Goodwill	498,075		493,053
Investment in subsidiaries	909,565		848,124
Pension assets	18,589		60,955
Other assets	18,918		11,356
Noncurrent assets held-for-sale			85,945
Total assets	3,285,470		2,602,934
Current liabilities:
Accounts payable and accrued liabilities	120,058		102,477
Short-term debt and current portion of long-term debt	335,993		4,341
Pension and postretirement benefits, current	1,894		2,437
Fees received in advance	212,765		192,524
Intercompany payables	888,752		793,517
Deferred income taxes, net			9
Income taxes payable	0		0
Current liabilities held-for-sale			8,928
Total current liabilities	1,559,462		1,104,233
Noncurrent liabilities:
Long-term debt	54,729		225,950
Pension and postretirement benefits	16,215		15,068
Deferred income taxes, net	82,340		70,897
Other liabilities	40,795		31,809
Noncurrent liabilities held-for-sale			4,529
Total liabilities	1,753,541		1,452,486
Total stockholders’ equity	1,531,929		1,150,448
Total liabilities and stockholders’ equity	3,285,470		2,602,934
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	34,898		64,480		54,120		38,552
Available-for-sale securities	0		0
Accounts receivable, net	71,724		58,969
Prepaid expenses	4,063		3,075
Deferred income taxes, net	1,438		5,086
Income taxes receivable	0		0
Intercompany receivables	194,565		202,018
Other current assets	376		2,702
Current assets held-for-sale			883
Total current assets	307,064		337,213
Noncurrent assets:
Fixed assets, net	44,035		35,261
Intangible assets, net	347,589		380,211
Goodwill	709,071		688,628
Investment in subsidiaries	0		0
Pension assets	0		0
Other assets	761		889
Noncurrent assets held-for-sale			0
Total assets	1,408,520		1,442,202
Current liabilities:
Accounts payable and accrued liabilities	46,448		63,554
Short-term debt and current portion of long-term debt	65		107
Pension and postretirement benefits, current	0		0
Fees received in advance	39,827		34,057
Intercompany payables	23,188		120,406
Deferred income taxes, net			0
Income taxes payable	26,044		18,973
Current liabilities held-for-sale			0
Total current liabilities	135,572		237,097
Noncurrent liabilities:
Long-term debt	297		360
Pension and postretirement benefits	0		0
Deferred income taxes, net	120,200		127,707
Other liabilities	2,593		4,234
Noncurrent liabilities held-for-sale			0
Total liabilities	258,662		369,398
Total stockholders’ equity	1,149,858		1,072,804
Total liabilities and stockholders’ equity	1,408,520		1,442,202
Eliminating Entries [Member]
Current assets:
Cash and cash equivalents	0		0		0		0
Available-for-sale securities	0		0
Accounts receivable, net	0		0
Prepaid expenses	0		0
Deferred income taxes, net	0		(9)
Income taxes receivable	(26,044)		(18,973)
Intercompany receivables	(2,151,530)		(1,360,432)
Other current assets	0		0
Current assets held-for-sale			521
Total current assets	(2,177,574)		(1,378,893)
Noncurrent assets:
Fixed assets, net	0		0
Intangible assets, net	0		0
Goodwill	0		0
Investment in subsidiaries	(2,681,787)		(2,223,252)
Pension assets	0		0
Other assets	0		0
Noncurrent assets held-for-sale			0
Total assets	(4,859,361)		(3,602,145)
Current liabilities:
Accounts payable and accrued liabilities	0		0
Short-term debt and current portion of long-term debt	0		0
Pension and postretirement benefits, current	0		0
Fees received in advance	0		0
Intercompany payables	(2,151,530)		(1,360,432)
Deferred income taxes, net			(9)
Income taxes payable	(26,044)		(18,973)
Current liabilities held-for-sale			521
Total current liabilities	(2,177,574)		(1,378,893)
Noncurrent liabilities:
Long-term debt	0		0
Pension and postretirement benefits	0		0
Deferred income taxes, net	0		0
Other liabilities	0		0
Noncurrent liabilities held-for-sale			0
Total liabilities	(2,177,574)		(1,378,893)
Total stockholders’ equity	(2,681,787)		(2,223,252)
Total liabilities and stockholders’ equity	$ (4,859,361)		$ (3,602,145)

[1] These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (USD $) In Thousands, except Share data, unless otherwise specified	Total USD ($)	Par Value [Member] USD ($)	Unearned KSOP Contributions [Member] USD ($)	Additional Paid-in Capital [Member] USD ($)	Treasury Stock [Member] USD ($)	Retained Earnings [Member] USD ($)	Accumulated Other Comprehensive Losses [Member] USD ($)	Verisk Class A [Member]
Balance at Dec. 31, 2011	$ (98,490)	$ 137	$ (691)	$ 874,808	$ (1,471,042)	$ 576,585	$ (78,287)
Balance (in shares) at Dec. 31, 2011								544,003,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	329,142					329,142
Total other comprehensive income (loss)	(10,873)						(10,873)
Treasury stock acquired - Class A	(162,586)				(162,586)
KSOP shares earned	13,111		208	12,903
Stock options exercised, including tax benefit	159,863			131,824	28,039
Restricted stock lapsed, including tax benefit	201			34	167
Employee stock purchase plan	294			268	26
Stock based compensation	24,696			24,696
Payments Related to Tax Withholding for Share-based Compensation	0
Other stock issuances	233			213	20
Balance at Dec. 31, 2012	255,591	137	(483)	1,044,746	(1,605,376)	905,727	(89,160)
Balance (in shares) at Dec. 31, 2012								544,003,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	348,380					348,380
Total other comprehensive income (loss)	45,672						45,672
Treasury stock acquired - Class A	(278,938)				(278,938)
KSOP shares earned	14,930		177	14,753
Stock options exercised, including tax benefit	137,759			119,236	18,523
Restricted stock lapsed, including tax benefit	991			333	658
Employee stock purchase plan	1,662			1,533	129
Stock based compensation	21,087			21,087
Payments Related to Tax Withholding for Share-based Compensation	0
Other stock issuances	455			418	37
Balance at Dec. 31, 2013	547,589	137	(306)	1,202,106	(1,864,967)	1,254,107	(43,488)
Balance (in shares) at Dec. 31, 2013								544,003,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	400,042
Total other comprehensive income (loss)	(37,026)						(37,026)
Treasury stock acquired - Class A	(775,446)			(100,000)	(675,446)
KSOP shares earned	15,351		145	15,206
Stock options exercised, including tax benefit	39,792			34,011	5,781
Restricted stock lapsed, including tax benefit	550			(148)	698
Employee stock purchase plan	1,563			1,414	149
Stock based compensation	20,011			20,011
Payments Related to Tax Withholding for Share-based Compensation	1,625			1,625
Other stock issuances	242			221	21
Balance at Dec. 31, 2014	$ 211,043	$ 137	$ (161)	$ 1,171,196	$ (2,533,764)	$ 1,654,149	$ (80,514)
Balance (in shares) at Dec. 31, 2014								544,003,038

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CONSOLIDATED BALANCE SHEETS (Parenthetical) (Verisk Class A [Member], USD $)	Dec. 31, 2014	Dec. 31, 2013
Verisk Class A [Member]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	1,200,000,000	1,200,000,000
Common stock issued (in shares)	544,003,038	544,003,038
Common stock outstanding (in shares)	157,913,227	167,457,927
Treasury stock (in shares)	386,089,811	376,545,111

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Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

 Fair Value Measurements:

Certain assets and liabilities of the Company are reported at fair value in the accompanying consolidated balance sheets. Such assets and liabilities include amounts for both financial and non-financial instruments. To increase consistency and comparability of assets and liabilities recorded at fair value, ASC 820-10 establishes a three-level fair value hierarchy to prioritize the inputs to valuation techniques used to measure fair value. ASC 820-10 requires disclosures detailing the extent to which companies’ measure assets and liabilities at fair value, the methods and assumptions used to measure fair value and the effect of fair value measurements on earnings. In accordance with ASC 820-10, the Company applied the following fair value hierarchy:

Level 1 — Assets or liabilities for which the identical item is traded on an active exchange, such as publicly-traded instruments.

Level 2 — Assets and liabilities valued based on observable market data for similar instruments.

Level 3 — Assets or liabilities for which significant valuation assumptions are not readily observable in the market; instruments valued based on the best available data, some of which is internally-developed, and considers risk premiums that a market participant would require.

The following table provides information for such assets and liabilities as of December 31, 2014 and 2013. The fair values of cash and cash equivalents (other than money-market funds which are recorded on a reported net asset value basis disclosed below), accounts receivable, accounts payable and accrued liabilities, fees received in advance, acquisition related liabilities prior to the adoption of ASC 805, Business Combinations (“ASC 805”), short-term debt, and short-term debt expected to be refinanced approximate their carrying amounts because of the short-term nature of these instruments.

The following table summarizes fair value measurements by level for cash equivalents and registered investment companies that were measured at fair value on a recurring basis:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
December 31, 2014
Cash equivalents – money-market funds	$	3,707	$	—	$	3,707
Registered investment companies(1)	$	3,801	$	3,801	$	—
December 31, 2013
Cash equivalents – money-market funds	$	889	$	—	$	889
Registered investment companies(1)	$	3,911	$	3,911	$	—

(1) Registered investment companies are classified as available-for-sale securities and are valued using quoted prices in active

markets multiplied by the number of shares owned.

The Company has not elected to carry its long-term debt at fair value. The carrying value of the long-term debt represents amortized cost. The Company assesses the fair value of its long-term debt based on quoted market prices if available, and if not, an estimate of interest rates available to the Company for debt with similar features, the Company’s current credit rating and spreads applicable to the Company. The fair value of the long-term debt would be a Level 2 liability if the long-term debt was measured at fair value on the consolidated balance sheets. The following table summarizes the carrying value and estimated fair value of the long-term debt as of December 31, 2014 and 2013 respectively:

	2014				2013
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial instrument not carried at fair value:
Long-term debt excluding capitalized leases	$	1,265,848	$	1,371,213	$	1,265,129	$	1,335,844

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Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2014 Country reportablesegment	Dec. 31, 2013 Country	Dec. 31, 2012 Country
Segment Reporting [Abstract]
Number of reportable segments	2
Number of outside countries accounted for Company's consolidated revenue	0	0	0
Percentage of revenue	1.00%	1.00%	1.00%
Number of outside countries accounted for Company's consolidated long-term asset	0	0
Percentage of long-term assets	3.00%	1.00%

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Pension and Postretirement Benefits - Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Amortization of prior service benefit	$ (146)
Net periodic benefit (credit) cost	10	19	114
Pension Plan and SERP Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Service cost	0	0	282
Interest cost	19,073	17,860	19,888
Curtailment gain	0	0	(780)
Expected return on plan assets	(33,942)	(30,480)	(28,899)
Amortization of prior service benefit	0	0	(133)
Amortization of net actuarial loss	763	5,078	3,646
Net periodic benefit (credit) cost	(14,106)	(7,542)	(5,996)
Amortization of actuarial loss reclassified from accumulated other comprehensive losses	(354)	(1,320)	(279)
Amortization of prior service benefit reclassified from accumulated other comprehensive losses	0	0	133
Prior service benefit	0	0	(7,475)
Net loss recognized reclassified from accumulated other comprehensive losses	(409)	(3,758)	(3,368)
Actuarial gain (loss)	59,272	(70,065)	26,184
Total recognized in other comprehensive loss (income)	58,509	(75,143)	15,195
Total recognized in net periodic benefit (credit) cost and other comprehensive loss (income)	44,403	(82,685)	9,199
Postretirement Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Service cost	0	0	0
Interest cost	593	608	779
Curtailment gain	0	0	0
Expected return on plan assets	(786)	(919)	(255)
Amortization of prior service benefit	(146)	(146)	(146)
Amortization of net actuarial loss	517	767	634
Net periodic benefit (credit) cost	178	310	1,012
Amortization of actuarial loss reclassified from accumulated other comprehensive losses	0	0	0
Amortization of prior service benefit reclassified from accumulated other comprehensive losses	146	146	146
Prior service benefit	0	0	0
Net loss recognized reclassified from accumulated other comprehensive losses	0	0	0
Actuarial gain (loss)	(886)	(77)	1,742
Total recognized in other comprehensive loss (income)	(740)	69	1,888
Total recognized in net periodic benefit (credit) cost and other comprehensive loss (income)	$ (562)	$ 379	$ 2,900

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Pension and Postretirement Benefits - Summary of Changes in Benefit Obligations and Plan Assets Amount Recognized (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in benefit obligation:
Accumulated benefit obligation at December 31	$ 3,182	$ 2,868
Change in plan assets:
Pension assets, noncurrent	(18,589)	(60,955)
Pension, SERP and postretirement benefits, noncurrent	16,215	15,068
Pension Plan and SERP Plan [Member]
Change in benefit obligation:
Benefit obligation at January 1	420,664	460,482
Interest cost	19,073	17,860	19,888
Actuarial loss (gain)	61,804	(31,962)
Plan participants’ contributions	0	0
Benefits paid	(30,282)	(25,716)
Federal subsidy on benefits paid	0	0
Benefit obligation at December 31	471,259	420,664	460,482
Accumulated benefit obligation at December 31	471,259	420,664
Change in plan assets:
Fair value of plan assets at January 1	467,912	421,134
Actual return on plan assets, net of expenses	36,474	68,583
Employer contributions, net	1,177	3,911
Plan participants’ contributions	0	0
Benefits paid	(30,282)	(25,716)
Subsidies received	0	0
Fair value of plan assets at December 31	475,281	467,912	421,134
(Funded) unfunded status at December 31	(4,022)	(47,248)
Pension assets, noncurrent	(18,589)	(60,955)
Pension, SERP and postretirement benefits, current	762	700
Pension, SERP and postretirement benefits, noncurrent	13,805	13,007
Total Pension, SERP and Postretirement benefits	(4,022)	(47,248)
Postretirement Plan [Member]
Change in benefit obligation:
Benefit obligation at January 1	20,399	22,434
Interest cost	593	608	779
Actuarial loss (gain)	(411)	(426)
Plan participants’ contributions	2,635	1,748
Benefits paid	(4,834)	(4,225)
Federal subsidy on benefits paid	391	260
Benefit obligation at December 31	18,773	20,399	22,434
Change in plan assets:
Fair value of plan assets at January 1	16,601	18,766
Actual return on plan assets, net of expenses	743	(198)
Employer contributions, net	(305)	250
Plan participants’ contributions	2,635	1,748
Benefits paid	(4,834)	(4,225)
Subsidies received	391	260
Fair value of plan assets at December 31	15,231	16,601	18,766
(Funded) unfunded status at December 31	3,542	3,798
Pension assets, noncurrent	0	0
Pension, SERP and postretirement benefits, current	1,132	1,737
Pension, SERP and postretirement benefits, noncurrent	2,410	2,061
Total Pension, SERP and Postretirement benefits	$ 3,542	$ 3,798

XML

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Feb. 20, 2015	Jun. 30, 2014
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	VRSK
Entity Registrant Name	Verisk Analytics, Inc.
Entity Central Index Key	0001442145
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		158,108,455
Entity Public Float			$ 9,119,385,502
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No

XML

Fixed Assets

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Fixed Assets

Fixed Assets

The following is a summary of fixed assets:

	Useful Life	Cost		Accumulated Depreciation and Amortization			Net
December 31, 2014
Furniture and office equipment	3-10 years	$	199,199	$	(131,055	)	$	68,144
Leasehold improvements	Lease term		65,212		(27,884	)		37,328
Purchased software	3 years		116,089		(80,794	)		35,295
Software development costs	3 years		266,559		(111,766	)		154,793
Leased equipment	3-4 years		32,776		(26,063	)		6,713
Total fixed assets		$	679,835	$	(377,562	)	$	302,273
December 31, 2013
Furniture and office equipment	3-10 years	$	179,564	$	(105,262	)	$	74,302
Leasehold improvements	Lease term		38,796		(22,022	)		16,774
Purchased software	3 years		89,064		(65,753	)		23,311
Software development costs	3 years		201,192		(91,656	)		109,536
Leased equipment	3-4 years		33,956		(24,506	)		9,450
Total fixed assets		$	542,572	$	(309,199	)	$	233,373

Depreciation and amortization of fixed assets for the years ended December 31, 2014, 2013 and 2012 were $85,506, $66,190 and $46,637, of which $19,000, $12,806 and $8,935 related to amortization of internal-use software development costs, respectively. Amortization expense related to development of software for sale in accordance with ASC 985-20 was $4,497 and $3,623 for the years ended December 31, 2014 and 2013, respectively. There was no amortization expense related to development of software for sale during the year ended December 31, 2012 as these projects were in process. The Company had unamortized software development costs that had been capitalized in accordance with ASC 985-20 of $34,749 and $29,149 as of December 31, 2014 and 2013, respectively. Leased equipment includes amounts held under capital leases for automobiles, computer software and computer equipment.

XML

Debt - Summary of Long Term Debt Maturities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Debt Disclosure [Abstract]
2015	$ 336,058
2016	53,959
2017	770
2018	168
2019	250,050
2020 and thereafter	800,079
Total	$ 1,441,084

XML

Pension and Postretirement Benefits - Additional Information (Detail) (USD $)	12 Months Ended			1 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 30, 2012	Dec. 31, 2015
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Reduced pension liability			$ 10,200,000
Pension curtailment gain			780,000
Actual plan asset allocation	100.00%	100.00%
Healthcare cost trend rate	7.50%
Decreased healthcare cost trend rate	5.00%
Healthcare cost trend rate, period	2020
Change in assumed healthcare cost trend rates	1.00%
Defined Benefit Plan, Accumulated Benefit Obligation	3,182,000	2,868,000
Employer contribution to pension plan	10,000	19,000	114,000
Expected return on plan assets	7.50%	7.50%
Equity securities [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Actual plan asset allocation	56.80%	66.80%
Target investment allocation of securities	60.00%
Debt securities [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Actual plan asset allocation	41.30%	33.20%
Target investment allocation of securities	40.00%
Minimum [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Domestic equity portion of portfolio	40.00%
Minimum [Member] | Foreign Pension Plans [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
International equity portion of portfolio	10.00%
Minimum [Member] | Fixed Income Funds [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Fixed income portion of portfolio	20.00%
Maximum [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Domestic equity portion of portfolio	60.00%
Maximum [Member] | Foreign Pension Plans [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
International equity portion of portfolio	20.00%
Maximum [Member] | Fixed Income Funds [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Fixed income portion of portfolio	40.00%
Pension Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Voluntary prefunding to defined benefit plan				72,000,000
Company contribution to defined benefit plan			78,837,000
Minimum required funding			28,206,000
Minimum contribution requirement to defined benefit plan for 2013	0
Target investment allocation of securities	100.00%
Estimated future employer contributions in next fiscal year	0
Pension Plan And Supplemental Cash Balance Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Company contribution to defined benefit plan	1,177,000	3,911,000
Estimated future employer contributions in next fiscal year	777,000
Postretirement Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Company contribution to defined benefit plan	(305,000)	250,000
Employer contribution to pension plan	178,000	310,000	1,012,000
Expected return on plan assets	5.00%	5.00%
VEBA Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Actual plan asset allocation	100.00%
Target investment allocation of securities	100.00%
Scenario, Forecast [Member] | Postretirement Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Company contribution to defined benefit plan					$ 1,148,000

XML

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Revenues	$ 1,746,726	$ 1,595,703	$ 1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)	716,598	622,523	516,708
Selling, general and administrative	227,306	228,982	220,068
Depreciation and amortization of fixed assets	85,506	66,190	46,637
Amortization of intangible assets	56,870	63,741	52,207
Total expenses	1,086,280	981,436	835,620
Operating income	660,446	614,267	572,228
Other income (expense):
Investment income and others	158	609	106
Interest expense	(69,984)	(76,136)	(72,508)
Total other expense, net	(69,826)	(75,527)	(72,402)
Income before income taxes	590,620	538,740	499,826
Provision for income taxes	(219,755)	(196,426)	(182,363)
Income from continuing operations	370,865	342,314	317,463
Income from discontinued operations, net of tax of $25,305, $4,753 and $7,703, respectively (Note 10)	29,177	6,066	11,679
Net income	$ 400,042	$ 348,380	$ 329,142
Basic net income per share:
Income from continuing operations (in dollars per share)	$ 2.24	$ 2.04	$ 1.91
Income from discontinued operations (in dollars per share)	$ 0.17	$ 0.03	$ 0.07
Basic net income per share (in dollars per share)	$ 2.41	$ 2.07	$ 1.98
Diluted net income per share:
Income from continuing operations (in dollars per share)	$ 2.20	$ 1.99	$ 1.85
Income from discontinued operations (in dollars per share)	$ 0.17	$ 0.03	$ 0.07
Diluted net income per share (in dollars per share)	$ 2.37	$ 2.02	$ 1.92
Weighted average shares outstanding:
Basic (in shares)	165,823,803	168,031,412	165,890,258
Diluted (in shares)	169,132,423	172,276,360	171,709,518

XML

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Summary of Significant Accounting Policies:

The accompanying consolidated financial statements have been prepared on the basis of accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with these accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include acquisition purchase price allocations, the fair value of goodwill, the realization of deferred tax assets, acquisition related liabilities, fair value of stock based compensation, assets and liabilities for pension and postretirement benefits, and the estimate for the allowance for doubtful accounts. Actual results may ultimately differ from those estimates. Certain reclassifications have been made related to realized gain (loss) on available-for-sale securities, net and investment income within the consolidated financial statements and in the notes to confirm to the respective 2014 presentation. As of December 31, 2013, the Company's mortgage services business qualified as assets held-for-sale. Accordingly, the respective assets and liabilities were classified as held-for-sale in the consolidated balance sheet at December 31, 2013. The mortgage services business was sold on March 11, 2014. In addition, the results of operations for the Company's mortgage services business are reported as a discontinued operation for the years presented herein (See Note 10).

Significant accounting policies include the following:

(a)    Intercompany Accounts and Transactions

The consolidated financial statements include the accounts of Verisk. All intercompany accounts and transactions have been eliminated.

(b)    Revenue Recognition

The following describes the Company’s primary types of revenues and the applicable revenue recognition policies. The Company’s revenues are primarily derived from sales of services and revenue is recognized as services are performed and information is delivered to customers. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, fees and/or price is fixed or determinable, and collectability is reasonably assured. Revenue is recognized net of applicable sales tax withholdings.

Industry-Standard Insurance Programs

Industry-standard insurance programs, statistical agent and data services and actuarial services are sold to participating insurance company customers under annual agreements covering a calendar year where the price is determined at the inception of the agreement. In accordance with Accounting Standards Codification (“ASC”) 605, Revenue Recognition, the Company recognizes revenue ratably over the term of these annual agreements, as services are performed and continuous access to information is provided over the entire term of the agreements.

Property-Specific Rating and Underwriting Information

The Company provides property-specific rating information through reports issued for specific commercial properties, for which revenue is recognized when the report is delivered to the customer, provided that all other revenue recognition criteria are met.

In addition, the Company provides hosting or software solutions that provide continuous access to information about the properties being insured and underwriting information in the form of standard policy forms to be used by customers. As the customer has a contractual right to take possession of the software without significant penalty, revenues from these arrangements are recognized ratably over the contract period from the time when the customer had access to the solution in accordance with ASC 985-605, Software Revenue Recognition (“ASC 985-605”). The Company recognizes software license revenue when the arrangement does not require significant production, customization or modification of the software and the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred, fees are fixed or determinable, and collections are probable. These software arrangements include post-contract customer support (“PCS”). The Company recognizes software license revenue ratably over the duration of the annual license term as vendor specific objective evidence (“VSOE”) of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term.

Insurance

Insurance services primarily consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly.

There are also services within insurance, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Financial Services

Financial services include various types of services to customers. The Company primarily recognizes revenue ratably for these services over the term of the agreements, as services are performed and continuous service is provided over the entire term of the agreements. In addition, there are certain services which are comprised of transaction-based fees; in these instances, revenue is recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Healthcare

The Company provides software hosting arrangements to customers whereby the customer does not have the right to take possession of the software. As these arrangements include PCS throughout the hosting term, revenues from these multiple element arrangements are recognized in accordance with ASC 605-25, Revenue Recognition — Multiple Element Arrangements (“ASC 605-25”). The Company recognizes revenue ratably over the duration of the license term, which ranges from one to five years, since the contractual elements do not have stand alone value.

There are also services within healthcare, which are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

Specialized Markets

Specialized markets consist of term-based software licenses. These software arrangements include PCS, which includes unspecified upgrades on a when-and-if available basis. The Company recognizes software license revenue ratably over the duration of the annual license term as VSOE of PCS, the only remaining undelivered element, cannot be established in accordance with ASC 985-605. The PCS associated with these arrangements is coterminous with the duration of the license term. In certain instances, the customers are billed for access on a monthly basis for the term-based software licenses and the Company recognizes revenue accordingly. In addition, specialized markets are comprised of transaction-based fees recognized as information is delivered to customers, provided that all other revenue recognition criteria have been met.

The Company services long-term contract arrangements with certain customers. For these arrangements, revenue is recognized in accordance with ASC 605-35, Revenue Recognition — Construction-Type and Production-Type Contracts (“ASC 605-35”), using the percentage-of-completion method, which requires the use of estimates. In such instances, management is required to estimate the input measures, based on hours incurred to date compared to total estimated hours of the project, with consideration also given to output measures, such as contract milestones, when applicable. Adjustments to estimates are made in the period in which the facts requiring such revisions become known. Accordingly, recognized revenues and profits are subject to revisions as the contract progresses to completion. The Company considers the contract substantially complete when there is compliance with all performance specifications and there are no remaining costs or potential risk.

(c)    Fees Received in Advance

The Company invoices its customers in annual, quarterly, monthly or milestone installments. Amounts billed and collected in advance of contract terms are recorded as “Fees received in advance” in the accompanying consolidated balance sheets and are recognized as the services are performed and the applicable revenue recognition criteria are met.

(d)    Fixed Assets and Finite-lived Intangible Assets

Property and equipment, internal-use software and finite-lived intangibles are stated at cost less accumulated depreciation and amortization, which are computed on a straight-line basis over their estimated useful lives. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term.

The Company’s internal software development costs primarily relate to internal-use software. Such costs are capitalized in the application development stage in accordance with ASC 350-40, Internal-use Software. The Company also capitalizes software development costs upon the establishment of technological feasibility for a product in accordance with ASC 985-20, Software to be Sold, Leased, or Marketed (“ASC 985-20”). Software development costs are amortized on a straight-line basis over a three-year period, which management believes represents the useful life of these capitalized costs.

In accordance with ASC 360, Property, Plant & Equipment, whenever events or changes in circumstances indicate that the carrying amount of long-lived assets and finite-lived intangible assets may not be recoverable, the Company reviews its long-lived assets and finite-lived intangible assets for impairment by first comparing the carrying value of the assets to the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the assets. If the carrying value exceeds the sum of the assets’ undiscounted cash flows, the Company estimates and recognizes an impairment loss by taking the difference between the carrying value and fair value of the assets.

(e) Assets Held-for-Sale

The Company classifies its long-lived assets as held-for-sale when management commits to a plan to sell the assets, the assets are ready for immediate sale in their present condition, an active program to locate buyers has been initiated, the sale of the assets is probable and expected to be completed within one year, the assets are marketed at reasonable prices in relation to their fair value and it is unlikely that significant changes will be made to the plan to sell the assets. The Company measures the value of long-lived assets held for sale at the lower of the carrying amount or fair value, less cost to sell.

(f)    Capital and Operating Leases

The Company leases various property, plant and equipment. Leased property is accounted for under ASC 840, Leases (“ASC 840”). Accordingly, leased property that meets certain criteria is capitalized and the present value of the related lease payments is recorded as a liability. Amortization of assets accounted for as capital leases is computed utilizing the straight-line method over the shorter of the remaining lease term or the estimated useful life (principally 3 to 4 years for computer equipment and automobiles).

All other leases are accounted for as operating leases. Rent expense for operating leases, which may have rent escalation provisions or rent holidays, is recorded on a straight-line basis over the non-cancelable lease period in accordance with ASC 840. The initial lease term generally includes the build-out period, where no rent payments are typically due under the terms of the lease. The difference between rent expensed and rent paid is recorded as deferred rent. Construction allowances received from landlords are recorded as a deferred rent credit and amortized to rent expense over the term of the lease.

(g)    Investments

The Company’s investments at December 31, 2014 and 2013 included registered investment companies and equity investments in non-public companies. The Company accounts for short-term investments in accordance with ASC 320, Investments-Debt and Equity Securities (“ASC 320”).

There were no investments classified as trading securities at December 31, 2014 or 2013. All investments with readily determinable market values are classified as available-for-sale. While these investments are not held with the specific intention to sell them, they may be sold to support the Company’s investment strategies. All available-for-sale investments are carried at fair value. The cost of all available-for-sale investments sold is based on the specific identification method, with the exception of mutual fund-based investments, which is based on the weighted average cost method. Dividend income is accrued on the ex-dividend date.

The Company performs reviews of its investment portfolio when individual holdings have experienced a decline in fair value below their respective cost. The Company considers a number of factors in the evaluation of whether a decline in value is other-than-temporary including: (a) the financial condition and near term prospects of the issuer; (b) the Company’s ability and intent to retain the investment for a period of time sufficient to allow for an anticipated recovery in value; and (c) the period and degree to which the market value has been below cost. Where the decline is deemed to be other-than-temporary, a charge is recorded to “Investment income and others” in the accompanying consolidated statements of operations, and a new cost basis is established for the investment.

The Company’s equity investments in non-public companies are included in “Other assets” in the accompanying consolidated balance sheets. Those securities are carried at cost, as the Company owns less than 20% of the stock and does not otherwise have the ability to exercise significant influence. These securities are written down to their estimated realizable value when management considers there is an other-than-temporary decline in value based on financial information received and the business prospects of the entity.

(h)    Fair Value of Financial Instruments

The Company follows the provisions of ASC 820-10, Fair Value Measurements (“ASC 820-10”), which defines fair value, establishes a framework for measuring fair value under U.S. GAAP and expands fair value measurement disclosures. The Company follows the provisions of ASC 820-10 for its financial assets and liabilities recognized or disclosed at fair value on a recurring basis. The Company follows the provisions of ASC 820-10 for its non-financial assets and liabilities recognized or disclosed at fair value.

(i)    Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable is generally recorded at the invoiced amount. The allowance for doubtful accounts is estimated based on an analysis of the aging of the accounts receivable, historical write-offs, customer payment patterns, individual customer creditworthiness, current economic trends, and/or establishment of specific reserves for customers in adverse financial condition. The Company assesses the adequacy of the allowance for doubtful accounts on a quarterly basis.

(j)    Foreign Currency

The Company has determined local currencies are the functional currencies of the foreign operations. The assets and liabilities of foreign subsidiaries are translated at the period-end rate of exchange and statement of operations items are translated at the average rates prevailing during the year. The resulting translation adjustment is recorded as a component of “Accumulated other comprehensive losses” in the accompanying consolidated statements of changes in stockholders’ equity (deficit).

(k)    Stock Based Compensation

The Company follows ASC 718, Stock Compensation (“ASC 718”). Under ASC 718, stock based compensation cost is measured at the grant date, based on the fair value of the awards granted, and is recognized as expense over the requisite service period.

Other equity awards, including restricted stock, are valued at the closing price of the Company’s Class A common stock on the grant date. Restricted stock generally has a service vesting period of four years and the Company recognizes the expense ratably over this service vesting period.

The Company estimates expected forfeitures of equity awards at the date of grant and recognizes compensation expense only for those awards expected to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate. Changes in the forfeiture assumptions may impact the total amount of expense ultimately recognized, as well as the timing of expense recognized over the requisite service period.

(l)    Research and Development Costs

Research and development costs, which are primarily related to the personnel and related overhead costs incurred in developing new services for customers, are expensed as incurred. Such costs were $25,508, $21,426 and $18,386 for the years ended December 31, 2014, 2013 and 2012, respectively, and were included in the accompanying consolidated statements of operations.

(m)    Advertising Costs

Advertising costs, which are primarily associated with promoting the Company’s brand, names and solutions provided, are expensed as incurred. Such costs were $6,360, $8,457 and $6,166 for the years ended December 31, 2014, 2013 and 2012, respectively.

(n)    Income Taxes

The Company accounts for income taxes under the asset and liability method under ASC 740, Income Taxes (“ASC 740”), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

Deferred tax assets are recorded to the extent these assets are more likely than not to be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. Valuation allowances are recognized to reduce deferred tax assets if it is determined to be more likely than not that all or some of the potential deferred tax assets will not be realized.

The Company follows ASC 740-10, Income Taxes (“ASC 740-10”), which clarifies the accounting for uncertainty in income taxes recognized in the financial statements. ASC 740-10 provides that a tax benefit from an uncertain tax position may be recognized based on the technical merits when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes. Income tax positions must meet a more likely than not recognition threshold at the effective date to be recognized upon the adoption of ASC 740-10 and in subsequent periods. This standard also provides guidance on measurement, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within “Other liabilities” on the accompanying consolidated balance sheets.

(o)    Earnings Per Share

Basic and diluted earnings per share (“EPS”) are determined in accordance with ASC 260, Earnings per Share, which specifies the computation, presentation and disclosure requirements for EPS. Basic EPS excludes all dilutive common stock equivalents. It is based upon the weighted average number of common shares outstanding during the period. Diluted EPS, as calculated using the treasury stock method, reflects the potential dilution that would occur if the Company’s dilutive outstanding stock options and stock awards were issued.

(p)    Pension and Postretirement Benefits

The Company accounts for its pension and postretirement benefits under ASC 715, Compensation — Retirement Benefits (“ASC 715”). ASC 715 requires the recognition of the funded status of a benefit plan in the balance sheet, the recognition in other comprehensive income (loss) of gains or losses and prior service costs or credits arising during the period, but which are not included as components of periodic benefit cost, and the measurement of defined benefit plan assets and obligations as of the balance sheet date. The Company utilizes a valuation date of December 31.

(q)    Product Warranty Obligations

The Company provides warranty coverage for certain of its solutions. The Company recognizes a product warranty obligation when claims are probable and can be reasonably estimated. As of December 31, 2014 and 2013, product warranty obligations were not material.

In the ordinary course of business, the Company enters into numerous agreements that contain standard indemnities whereby the Company indemnifies another party for breaches of confidentiality, infringement of intellectual property or gross negligence. Such indemnifications are primarily granted under licensing of computer software. Most agreements contain provisions to limit the maximum potential amount of future payments that the Company could be required to make under these indemnifications; however, the Company is not able to develop an estimate of the maximum potential amount of future payments to be made under these indemnifications as the triggering events are not subject to predictability.

(r)    Loss Contingencies

The Company accrues for costs relating to litigation, claims and other contingent matters when such liabilities become probable and reasonably estimable. Such estimates are based on management’s judgment. Actual amounts paid may differ from amounts estimated, and such differences will be charged to operations in the period in which the final determination of the liability is made.

(s)    Goodwill

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have finite lives are amortized over their useful lives. Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30 or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. The Company completed the required annual impairment test as of June 30, 2014, which resulted in no impairment of goodwill in 2014. This test compares the carrying value of each reporting unit to its fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets, including goodwill assigned to that reporting unit, goodwill is not impaired. If the carrying value of the reporting unit’s net assets, including goodwill, exceeds the fair value of the reporting unit, then the Company will determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then an impairment loss is recorded for the difference between the carrying amount and the implied fair value of the goodwill.

(t)    Recent Accounting Pronouncements

In March 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU No. 2013-05”). Under ASU No. 2013-05, an entity is required to release any related cumulative translation adjustment into net income upon cessation to have a controlling financial interest in a subsidiary or group of assets within a foreign entity. ASU 2013-05 is effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. ASU 2013-05 was adopted by the Company on January 1, 2014. The adoption of ASU 2013-05 did not have a material impact on the Company’s consolidated financial statements.

In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (“ASU No. 2013-11”). Under ASU No. 2013-11, an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with the exception that these unrecognized tax benefits are not available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position or the tax law. An additional exception applies when the tax law does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, then the unrecognized tax benefit should be presented as a liability and should not be combined with deferred tax assets. ASU No. 2013-11 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2013. The Company adopted the standard on January 1, 2014. The adoption of ASU No. 2013-11 did not have a material impact on the Company's consolidated financial statements.

In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”). Under ASU No. 2014-08, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The amendments in this ASU further require additional disclosures on discontinued operations in the financial statements. ASU No. 2014-08 is effective prospectively for reporting periods beginning after December 15, 2014. Early adoption is permitted, but only for disposals (or classifications as held-for-sale) that have not been reported in the financial statements previously issued. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are required to be reported in discontinued operations under the existing guidance and this ASU.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ("ASU No. 2014-09"). The objective of ASU No. 2014-09 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU No. 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will identify the contract(s) with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to the contract’s performance obligations; and recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. The new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2016 for public companies. Early adoption is not permitted. Entities have the option of using either a full retrospective or modified approach to adopt ASU No. 2014-09. The Company is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements nor decided upon the method of adoption.

In January 2015, the FASB issued ASU No. 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items ("ASU No. 2015-01"). As it is extremely rare in current practice for an event or transaction to be presented as an extraordinary item, this ASU eliminates from the U.S. GAAP the concept of extraordinary items. ASU No. 2015-01 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company has elected not to early adopt and will assess the impact of this standard when applicable circumstances are warranted.

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Organization

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

Organization:

Verisk Analytics, Inc. and its consolidated subsidiaries (“Verisk” or the “Company”) enable risk-bearing businesses to better understand and manage their risks. The Company provides its customers proprietary data that, combined with analytic methods, create embedded decision support solutions. The Company is one of the largest aggregators and providers of data pertaining to property and casualty (“P&C”) insurance risks in the United States of America (“U.S.”). The Company offers solutions for detecting fraud in the U.S. P&C insurance, financial and healthcare industries and sophisticated methods to predict and quantify loss in diverse contexts ranging from natural catastrophes to supply chain to health insurance. The Company provides solutions, including data, statistical models or tailored analytics, all designed to allow clients to make more logical decisions.

Verisk was established to serve as the parent holding company of Insurance Services Office, Inc. (“ISO”) upon completion of the initial public offering (“IPO”), which occurred on October 9, 2009. ISO was formed in 1971 as an advisory and rating organization for the P&C insurance industry to provide statistical and actuarial services, to develop insurance programs and to assist insurance companies in meeting state regulatory requirements. For over the past decade, the Company broadened its data assets, entered new markets, placed a greater emphasis on analytics, and pursued strategic acquisitions. Verisk trades under the ticker symbol “VRSK” on the NASDAQ Global Select Market.

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Composition of Certain Financial Statement Captions

12 Months Ended

Dec. 31, 2014

Balance Sheet Related Disclosures [Abstract]

Composition of Certain Financial Statement Captions

Composition of Certain Financial Statement Captions:

The following table presents the components of “Other current assets”, “Accounts payable and accrued liabilities” and “Other liabilities” as of December 31:

	2014		2013
Other current assets:
Acquisition related escrows	$	5,583	$	27,967
Other current assets		13,292		6,714
Total other current assets	$	18,875	$	34,681
Accounts payable and accrued liabilities:
Accrued salaries, benefits and other related costs	$	87,729	$	79,372
Escrow liabilities		5,565		27,918
Trade accounts payable and other accrued expenses		87,432		80,974
Total accounts payable and accrued liabilities	$	180,726	$	188,264
Other liabilities:
Unrecognized tax benefits, including interest and penalty	$	13,455	$	12,143
Deferred rent		22,386		12,219
Other liabilities		7,547		11,681
Total other liabilities	$	43,388	$	36,043

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Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisitions

Acquisitions

2014 Acquisition

On December 8, 2014, the Company acquired 100% of the stock of Maplecroft.Net Limited (“Maplecroft”), a provider of global risk analytics and advisory services, for a net cash purchase price of $30,141, which includes $2,725 of indemnity escrows held by the seller. Using a proprietary data aggregation and analytical approach, Maplecroft enables its customers to assess, monitor, and forecast a growing range of worldwide risks, including geopolitical and societal risks. Within the Company's Decision Analytics segment, this acquisition establishes the Company's position as a provider of value chain optimization tools, providing comprehensive quantitative risk analytics and platforms by which customers can visualize, quantify, mitigate, and manage risk. Maplecroft is headquartered in Bath, England.

The preliminary purchase price allocation of the acquisition resulted in the following:

		Maplecroft
Accounts receivable	$	1,833
Current assets		543
Fixed assets		98
Intangible assets		13,270
Goodwill		21,369
Total assets acquired		37,113
Current liabilities		4,318
Deferred income taxes, net		2,654
Total liabilities assumed		6,972
Net assets acquired	$	30,141

The preliminary amounts assigned to intangible assets by type for the acquisition are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based	10 years	$	3,202
Marketing-related	10 years		458
Customer-related	10 years		9,610
Total intangible assets	10 years	$	13,270

Due to the timing of the acquisition, the allocation of the purchase price (noted within the tables above) is all subject to revisions as additional information is obtained about the facts and circumstances that existed as of the acquisition date. The revisions may have an impact on the consolidated financial statements. The allocation of the purchase price will be finalized once all information is obtained, but not to exceed one year from the acquisition date.

The goodwill associated with the stock purchase of Maplecroft is not deductible for tax purposes. For the year ended

December 31, 2014, the Company incurred transaction costs related to this acquisition of $349 included within “Selling, general and administrative” expenses in the accompanying consolidated statements of operations.

2012 Acquisitions

On December 20, 2012, the Company acquired the net assets of Insurance Risk Management Solutions (“IRMS”). IRMS provided integrated property risk assessment technology underlying one of the Company’s geographic information system (“GIS”) underwriting solutions. At the end of 2012, the long-term contract with IRMS was expiring and precipitated a change in the business relationship. Instead of continuing forward with a new service agreement, the Company acquired IRMS as this will enable the Company to better manage, enhance and continue to use the solutions as part of its Risk Assessment segment. The Company paid a net cash purchase price of $26,422 and funded $1,000 of indemnity escrows. The preliminary purchase price allocation of the acquisition is presented as “Others” in the table below.

On August 31, 2012, the Company acquired Argus Information & Advisory Services, LLC (“Argus”), a provider of information, competitive benchmarking, scoring solutions, analytics, and customized services to financial institutions and regulators in North America, Latin America, and Europe, for a net cash purchase price of approximately $404,995 and funded $20,000 of indemnity escrows. Argus leverages its comprehensive payment data sets and provides proprietary solutions to a client base that includes credit and debit card issuers, retail banks and other consumer financial services providers, payment processors, insurance companies, and other industry stakeholders. Within the Company’s Decision Analytics segment, this acquisition enhances the Company’s position as a provider of data, analytics, and decision-support solutions to financial institutions globally.

On July 2, 2012, the Company acquired the net assets of Aspect Loss Prevention, LLC (“ALP”), a provider of loss prevention and analytic solutions to the retail, entertainment, and food industries, for a net cash purchase price of approximately $6,917 and funded $800 of indemnity escrows. Within the Company’s Decision Analytics segment, ALP further advances the Company’s position as a provider of data, crime analytics, and decision-support solutions. The purchase price allocation of the acquisition is presented as “Others” in the table below.

On March 30, 2012, the Company acquired 100% of the stock of MediConnect Global, Inc. (“MediConnect”), a service provider of medical record retrieval, digitization, coding, extraction, and analysis, for a net cash purchase price of approximately $331,405 and funded $17,000 of indemnity escrows. Within the Company’s Decision Analytics segment, MediConnect further supports the Company’s objective as the leading provider of data, analytics, and decision-support solutions to the healthcare and property casualty industry.

The preliminary purchase price allocations of the acquisitions resulted in the following:

	MediConnect		Argus		Others		Total
Accounts receivable	$	7,077	$	12,165	$	489	$	19,731
Current assets		17,238		568		68		17,874
Fixed assets		1,075		4,994		76		6,145
Intangible assets		159,506		179,316		9,264		348,086
Goodwill		222,976		277,857		29,875		530,708
Other assets		5,087		20,000		1,801		26,888
Total assets acquired		412,959		494,900		41,573		949,432
Current liabilities		15,007		9,661		4,625		29,293
Deferred income taxes, net		40,836		40,244		—		81,080
Other liabilities		8,711		20,000		1,809		30,520
Total liabilities assumed		64,554		69,905		6,434		140,893
Net assets acquired	$	348,405	$	424,995	$	35,139	$	808,539

Current assets and current liabilities primarily consisted of MediConnect’s indemnity escrow of $12,000. Other assets and other liabilities primarily consisted of $26,800 of indemnity escrows for MediConnect, ALP, Argus, and IRMS.

The amounts assigned to intangible assets by type for the acquisitions are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based		10 years	$	77,936
Marketing-related		5 years		30,331
Customer-related		13 years		239,819
Total intangible assets		11 years	$	348,086

The goodwill associated with the stock purchase of MediConnect is not deductible for tax purposes; whereas the goodwill associated with the asset purchases of ALP and IRMS is deductible for tax purposes. The goodwill associated with the acquisition of Argus is partially deductible for income tax purposes as approximately 46% of the net cash purchase price represented an asset purchase. For the year ended December 31, 2012, the Company incurred transaction costs related to these acquisitions of $1,874 included within “Selling, general and administrative” expenses in the accompanying consolidated statements of operations. In accordance with ASC 805, the allocations of the purchase prices for MediConnect, ALP, Argus and IRMS were revised during the measurement period. Refer to Note 11. Goodwill and Intangible Assets for further discussion.

Supplemental information on an unaudited pro forma basis is presented below as if the acquisitions of MediConnect and Argus occurred at the beginning of the year 2012. The pro forma information for the year ended December 31, 2012 presented below is based on estimates and assumptions, which the Company believes are reasonable and not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had these acquisitions been completed at the beginning of 2012. The unaudited pro forma information includes intangible asset amortization charges and incremental borrowing costs as a result of the acquisitions, net of related tax, estimated using the Company’s effective tax rate for continuing operations for the years ended December 31:

	2012
	(unaudited)
Pro forma revenues	$	1,462,677
Pro forma net income	$	321,140
Pro forma basic income per share	$	1.94
Pro forma diluted income per share	$	1.87

Acquisition Escrows

Pursuant to the related acquisition agreements, the Company has funded various escrow accounts to satisfy pre-acquisition indemnity and tax claims arising subsequent to the acquisition dates, as well as a portion of the contingent payments. At December 31, 2014 and 2013, the escrows amounted to $5,583 and $27,967, respectively, and have been included in “Other current assets” in the accompanying consolidated balance sheets.

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Stockholders' Equity (Deficit) - Additional Information (Detail) (USD $)	0 Months Ended	12 Months Ended
	Dec. 18, 2014	Dec. 31, 2014 agreement boardmember	Dec. 31, 2013	Dec. 31, 2012	Dec. 16, 2014	Jun. 04, 2014
Class of Stock [Line Items]
Board members		12
Authorized preferred stock		80,000,000
Preferred stock par value per share (in dollars per share)		$ 0.001
Share repurchase program, authorized capacity		$ 2,000,000,000
Treasury Stock, Cumulative Value, Acquired, Cost Method		1,810,193,000
Available shares for repurchase		189,807,000
Number of agreements		2
Treasury stock, shares acquired		10,802,087	4,532,552
Accelerated Share Repurchases, Initial Price Paid Per Share	$ 62.77
Accelerated Share Repurchases, Settlement (Payment) or Receipt	400,000,000
Accounts payable and accrued liabilities		180,726,000	188,264,000
Reissued of common stock, shares		1,257,387	4,263,406
Weighted average price per share (in dollars per share)		$ 5.29	$ 4.54
Common stock shares excluded from diluted EPS		1,633,670	656,499	659,246
Treasury Stock [Member]
Class of Stock [Line Items]
Accounts payable and accrued liabilities		0	3,038,000
Verisk Class A [Member]
Class of Stock [Line Items]
Common stock authorized (in shares)		1,200,000,000	1,200,000,000
Share repurchase program, authorized capacity	500,000,000				500,000,000	300,000,000
Treasury stock, shares acquired		10,802,087	4,532,552	3,491,591
Weighted average repurchase price of shares (in dollars per share)		$ 62.53	$ 61.54
Treasury stock (in shares)		386,089,811	376,545,111
Accelerated Stock Repurchase [Member]
Class of Stock [Line Items]
Treasury Stock, Cumulative Value, Acquired, Cost Method	400,000,000
Treasury stock, shares acquired	6,372,472
Adjustments to Additional Paid in Capital, Other	$ 100,000,000

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Accounts Receivable

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Accounts Receivable

Accounts Receivable:

Accounts receivable consisted of the following at December 31:

		2014			2013
Billed receivables	$	203,339		$	143,059
Unbilled receivables		23,324			19,903
Total receivables		226,663			162,962
Less allowance for doubtful accounts		(5,995	)		(4,415	)
Accounts receivable, net	$	220,668		$	158,547

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Fixed Assets - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Depreciation and amortization of fixed assets	$ 85,506,000	$ 66,190,000	$ 46,637,000
Amortization expense related to software development	19,000,000	12,806,000	8,935,000
Software development costs [Member]
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment [Line Items]
Depreciation and amortization of fixed assets	4,497,000	3,623,000	0
Unamortized software development costs	$ 34,749,000	$ 29,149,000

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items]
Net income	$ 400,042	$ 348,380	$ 329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(1,286)	(840)	15
Unrealized holding loss on available-for-sale securities	(35)	(147)	(197)
Pension and postretirement adjustment	(35,705)	46,659	(10,691)
Total other comprehensive (loss) income	(37,026)	45,672	(10,873)
Comprehensive income	363,016	394,052	318,269
Verisk Analytics, Inc. [Member]
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items]
Net income	400,042	348,380	329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(1,286)	(840)	15
Unrealized holding loss on available-for-sale securities	(35)	(147)	(197)
Pension and postretirement adjustment	(35,705)	46,659	(10,691)
Total other comprehensive (loss) income	(37,026)	45,672	(10,873)
Comprehensive income	363,016	394,052	318,269
Guarantor Subsidiaries [Member]
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items]
Net income	426,663	375,026	349,309
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(589)	(778)	172
Unrealized holding loss on available-for-sale securities	(35)	(147)	(197)
Pension and postretirement adjustment	(35,705)	46,659	(10,691)
Total other comprehensive (loss) income	(36,329)	45,734	(10,716)
Comprehensive income	390,334	420,760	338,593
Non-Guarantor Subsidiaries [Member]
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items]
Net income	40,230	37,080	25,963
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(697)	(99)	46
Unrealized holding loss on available-for-sale securities	0	0	0
Pension and postretirement adjustment	0	0	0
Total other comprehensive (loss) income	(697)	(99)	46
Comprehensive income	39,533	36,981	26,009
Eliminating Entries [Member]
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items]
Net income	(466,893)	(412,106)	(375,272)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	1,286	877	(218)
Unrealized holding loss on available-for-sale securities	35	147	197
Pension and postretirement adjustment	35,705	(46,659)	10,691
Total other comprehensive (loss) income	37,026	(45,635)	10,670
Comprehensive income	$ (429,867)	$ (457,741)	$ (364,602)

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Concentration of Credit Risk

12 Months Ended

Dec. 31, 2014

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Concentration of Credit Risk:

Financial instruments that potentially expose the Company to credit risk consist primarily of cash and cash equivalents, available for sale securities and accounts receivable, which are generally not collateralized. The Company maintains its cash and cash equivalents in higher credit quality financial institutions in order to limit the amount of credit exposure. The total domestic cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) to a maximum amount of $250 per bank at December 31, 2014 and 2013. At December 31, 2014 and 2013, the Company had cash balances on deposit that exceeded the balance insured by the FDIC limit by approximately $16,316 and $138,028 with six banks. At December 31, 2014 and 2013, the Company also had cash on deposit with foreign banks of approximately $21,886 and $26,228, respectively.

The Company considers the concentration of credit risk associated with its trade accounts receivable to be commercially reasonable and believes that such concentration does not result in the significant risk of near-term severe adverse impacts. The Company’s top fifty customers represent approximately 41% of revenues for 2014, 38% for 2013 and 38% for 2012 with no individual customer accounting for more than 5% of revenues during the year ended December 31, 2014, and 3% of revenue during the years ended December 31, 2013 and 2012. No individual customer comprised more than 7% of accounts receivable at December 31, 2014 and 5% at December 31, 2013.

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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2014

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

Cash and Cash Equivalents:

Cash and cash equivalents consist of cash in banks, commercial paper, money-market funds, and other liquid instruments with original maturities of 90 days or less at the time of purchase.

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Investments

12 Months Ended

Dec. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Investments

 Investments:

Available-for-sale securities consisted of the following:

		Adjusted Cost		Gross Unrealized Loss			Fair Value
December 31, 2014
Registered investment companies	$	4,045	$	(244	)	$	3,801
December 31, 2013
Registered investment companies	$	4,098	$	(187	)	$	3,911

In addition to the available-for-sale securities above, the Company has equity investments in non-public companies in which the Company acquired non-controlling interests and for which no readily determinable market value exists. These securities were accounted for under the cost method in accordance with ASC 323-10-25, The Equity Method of Accounting for Investments in Common Stock. At December 31, 2014 and 2013, the carrying value of such securities was $8,487 and $3,602, respectively, and has been included in “Other assets” in the accompanying consolidated balance sheets.

Realized gain (loss) on securities, net, including write downs related to other-than-temporary impairments of available-for-sale securities and other assets, has been included in "Investment income and others" in the accompanying consolidated statements of operations. Realized gain (loss) on securities, net, was as follows for the years ended December 31:

		2014			2013			2012
Gross realized gain on sale of registered investment securities	$	285		$	966		$	420
Other-than-temporary impairment of registered investment securities		(28	)		(84	)		(74	)
Other-than-temporary impairment of non-controlling interest in non-public companies		—			(974	)		(678	)
Realized gain (loss) on securities, net	$	257		$	(92	)	$	(332	)

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Acquisitions - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 08, 2014	Dec. 20, 2012	Aug. 31, 2012	Jul. 02, 2012	Mar. 30, 2012
Business Acquisition [Line Items]
Amount funded for escrows	$ 0	$ 0	$ 38,800
Transaction costs	349	1,874
Current portion of escrow	5,583	27,967
Maplecroft [Member]
Business Acquisition [Line Items]
Percentage of acquisition				100.00%
Net cash purchase price of acquisition				30,141
Amount funded for escrows				2,725
IRMS [Member]
Business Acquisition [Line Items]
Net cash purchase price of acquisition					26,422
Amount funded for escrows					1,000
Argus [Member]
Business Acquisition [Line Items]
Net cash purchase price of acquisition						404,995
Amount funded for escrows						20,000
Assets and liabilities acquired percentage			46.00%
ALP [Member]
Business Acquisition [Line Items]
Net cash purchase price of acquisition							6,917
Amount funded for escrows							800
MediConnect [Member]
Business Acquisition [Line Items]
Percentage of acquisition								100.00%
Net cash purchase price of acquisition								331,405
Amount funded for escrows								17,000
Current portion of escrow			12,000
MediConnect, ALP, Argus, and IRMS [Member]
Business Acquisition [Line Items]
Noncurrent portion of escrow			$ 26,800

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Compensation Plans - Fair Value of Stock Options Granted Using Black- Scholes Valuation Model (Detail) (Stock Options [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option pricing model	Black-Scholes	Black-Scholes	Black-Scholes
Expected volatility	20.53%	29.27%	32.22%
Risk-free interest rate	1.48%	0.70%	0.90%
Expected term in years	4 years 5 months	4 years 6 months	4 years 8 months 12 days
Dividend yield	0.00%	0.00%	0.00%
Weighted average grant date fair value per stock option (in dollars per share)	$ 11.86	$ 15.58	$ 13.59

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Goodwill and Intangible Assets - Summary of Changes in Goodwill (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Goodwill [Roll Forward]
Beginning Balance, Goodwill	$ 1,181,681	[1]	$ 1,247,459	[1]
Current year acquisitions	22,740		705
Purchase accounting reclassifications			2,724
Discontinued operations			(69,207)
Goodwill Acquisition Related Escrow Funding	2,725
Ending Balance, Goodwill	1,207,146	[1]	1,181,681	[1]
Accumulated impairment charges					3,244
Risk Assessment [Member]
Goodwill [Roll Forward]
Beginning Balance, Goodwill	55,555	[1]	55,555	[1]
Current year acquisitions	0		0
Purchase accounting reclassifications			0
Discontinued operations			0
Goodwill Acquisition Related Escrow Funding	0
Ending Balance, Goodwill	55,555	[1]	55,555	[1]
Decision Analytics [Member]
Goodwill [Roll Forward]
Beginning Balance, Goodwill	1,126,126	[1]	1,191,904	[1]
Current year acquisitions	22,740		705
Purchase accounting reclassifications			2,724
Discontinued operations			(69,207)
Goodwill Acquisition Related Escrow Funding	2,725
Ending Balance, Goodwill	$ 1,151,591	[1]	$ 1,126,126	[1]

[1] These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

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Segment Reporting - Operating Segment Revenue by Type of Service (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenues	$ 1,746,726	$ 1,595,703	$ 1,407,848
Decision Analytics [Member]
Segment Reporting Information [Line Items]
Revenues	1,096,074	977,427	828,342
Decision Analytics [Member] | Insurance [Member]
Segment Reporting Information [Line Items]
Revenues	598,757	539,150	493,456
Decision Analytics [Member] | Financial services [Member]
Segment Reporting Information [Line Items]
Revenues	96,763	81,113	26,567
Decision Analytics [Member] | Healthcare [Member]
Segment Reporting Information [Line Items]
Revenues	315,628	271,538	222,955
Decision Analytics [Member] | Specialized markets [Member]
Segment Reporting Information [Line Items]
Revenues	84,926	85,626	85,364
Risk Assessment [Member]
Segment Reporting Information [Line Items]
Revenues	650,652	618,276	579,506
Risk Assessment [Member] | Industry-standard insurance programs [Member]
Segment Reporting Information [Line Items]
Revenues	495,065	471,130	450,646
Risk Assessment [Member] | Property-specific rating and underwriting information [Member]
Segment Reporting Information [Line Items]
Revenues	$ 155,587	$ 147,146	$ 128,860

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Acquisitions - Schedule of Unaudited Pro Forma Information (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2012
Business Combinations [Abstract]
Pro forma revenues	$ 1,462,677
Pro forma net income	$ 321,140
Pro forma basic income per share (in dollars per share)	$ 1.94
Pro forma diluted income per share (in dollars per share)	$ 1.87

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Pension and Postretirement Benefits - Summary of Pre-Tax Components of Accumulated Other Comprehensive Losses (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Pension Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Prior service benefit	$ 0	$ 0
Actuarial losses	120,735	62,226
Accumulated other comprehensive losses, pretax	120,735	62,226
Postretirement Plan [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Prior service benefit	(1,000)	(1,147)
Actuarial losses	8,321	9,208
Accumulated other comprehensive losses, pretax	$ 7,321	$ 8,061

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Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Summary of Accounts Receivable

Accounts receivable consisted of the following at December 31:

		2014			2013
Billed receivables	$	203,339		$	143,059
Unbilled receivables		23,324			19,903
Total receivables		226,663			162,962
Less allowance for doubtful accounts		(5,995	)		(4,415	)
Accounts receivable, net	$	220,668		$	158,547

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Concentration of Credit Risk - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014 Customer	Dec. 31, 2013 Customer	Dec. 31, 2012 Customer
Concentration Risk [Line Items]
Total cash balances insured by the Federal Deposit Insurance Corporation	250,000	250,000
Cash balances on deposit	16,316,000	138,028,000
Number of banks	6
Cash deposit with foreign banks	21,886,000	26,228,000
Sales Revenue, Net [Member] | Top Fifty Customers [Member]
Concentration Risk [Line Items]
Number of customers	50	50	50
Concentration risk (percent)	41.00%	38.00%	38.00%
Sales Revenue, Net [Member] | Individual Customer [Member]
Concentration Risk [Line Items]
Number of customers	0	0	0
Concentration risk (percent)	5.00%	3.00%	3.00%
Accounts Receivable [Member] | Individual Customer [Member]
Concentration Risk [Line Items]
Number of customers	0	0
Concentration risk (percent)	7.00%	5.00%

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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets:

Goodwill represents the excess of acquisition costs over the fair value of tangible net assets and identifiable intangible assets of the businesses acquired. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Intangible assets determined to have finite lives are amortized over their useful lives. The Company completed the required annual impairment test as of June 30, 2014, 2013 and 2012, which resulted in no impairment of goodwill. Based on the results of the impairment assessment as of June 30, 2014, the Company determined that the fair value of its reporting units exceeded their respective carrying value. There were no goodwill impairment indicators after the date of the last annual impairment test.

The following is a summary of the change in goodwill from December 31, 2012 through December 31, 2014, both in total and as allocated to the Company’s operating segments:

	Risk Assessment		Decision Analytics			Total
Goodwill at December 31, 2012 (1)	$	55,555	$	1,191,904		$	1,247,459
Current year acquisitions		—		705			705
Purchase accounting reclassifications		—		2,724			2,724
Discontinued operations (Note 10)		—		(69,207	)		(69,207	)
Goodwill at December 31, 2013 (1)		55,555		1,126,126			1,181,681
Current year acquisitions		—		22,740			22,740
Acquisition related escrow funding		—		2,725			2,725
Goodwill at December 31, 2014 (1)	$	55,555	$	1,151,591		$	1,207,146

(1) These balances are net of accumulated impairment charges of $3,244 that occurred prior to December 31, 2012.

During the year ended December 31, 2013, the Company finalized the purchase accounting for the acquisitions of MediConnect, ALP and Argus, which resulted in an increase in goodwill of $2,724, an increase in fixed assets of $316, an increase in current liabilities of $1,548, an increase in deferred tax liabilities of $1,187, and a cash distribution to Argus of $305 related to the finalization of working capital. The impact of the finalization of the purchase accounting for these acquisitions was not material to the consolidated statements of operations for the years ended December 31, 2013 and 2012.

The Company’s intangible assets and related accumulated amortization consisted of the following:

	Weighted Average Useful Life	Cost		Accumulated Amortization			Net
December 31, 2014
Technology-based	8 years	$	299,705	$	(195,698	)	$	104,007
Marketing-related	5 years		71,504		(54,745	)		16,759
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		399,011		(113,301	)		285,710
Total intangible assets		$	776,775	$	(370,299	)	$	406,476
December 31, 2013
Technology-based	8 years	$	294,940	$	(180,581	)	$	114,359
Marketing-related	5 years		71,047		(44,274	)		26,773
Contract-based	6 years		6,555		(6,555	)		—
Customer-related	13 years		388,505		(82,019	)		306,486
Total intangible assets		$	761,047	$	(313,429	)	$	447,618

Amortization expense related to intangible assets for the years ended December 31, 2014, 2013 and 2012, was approximately $56,870, $63,741, and $52,207, respectively. Estimated amortization expense in future periods through 2020 and thereafter for intangible assets subject to amortization is as follows:

Year		Amount
2015	$	52,268
2016		50,436
2017		49,532
2018		48,786
2019		47,326
2020 and thereafter		158,128
Total	$	406,476

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Compensation Plans

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Compensation Plans

Compensation Plans:

KSOP

The Company has established the KSOP for the benefit of eligible employees in the U.S. and Puerto Rico. The KSOP includes both an employee savings component and an employee stock ownership component. The purpose of the combined plan is to enable the Company’s employees to participate in a tax-deferred savings arrangement under Internal Revenue Service Code Sections 401(a) and 401(k) (the “Code”), and to provide employee equity participation in the Company through the employee stock ownership plan (“ESOP”) accounts.

Under the KSOP, eligible employees may make pre-tax and after-tax cash contributions as a percentage of their compensation, subject to certain limitations under the applicable provisions of the Code. The maximum pre-tax contribution that can be made to the 401(k) account as determined under the provisions of Code Section 401(g) is $18, $18 and $17 for 2014, 2013 and 2012, respectively. Certain eligible participants (age 50 and older) may contribute an additional $6 on a pre-tax basis for 2014, 2013 and 2012. After-tax contributions are limited to 10% of a participant’s compensation. The Company provides quarterly matching contributions in Verisk Class A common stock. The quarterly matching contributions are primarily equal to 75% of the first 6% of the participant’s contribution.

The Company established the ESOP component as a funding vehicle for the KSOP. The common shares acquired by the KSOP were pledged as collateral under an intercompany loan agreement ("ESOP loan") between the KSOP and Company. The Company makes quarterly cash contributions to the KSOP equal to the KSOP’s debt service. As the debt is repaid, shares are released from collateral and are used to fund the quarterly 401(k) matching and profit sharing contributions before being allocated to active employees in proportion to their annual salaries in relation to total participant salaries. The Company accounts for its ESOP in accordance with ASC 718-40, Employee Stock Ownership Plans (“ASC 718-40”) and ASC 480-10, Distinguishing Liabilities from Equity (“ASC 480-10”). As shares are committed to be released from collateral, the Company reports compensation expense at the then-current fair value of the shares, and the shares become outstanding for EPS computations. For the years ended December 31, 2014, 2013 and 2012, there were no ESOP contributions.

In accordance with the ESOP loan, the Company is also required to contribute a total of $17,000, plus interest, of cash or shares to the KSOP by 2016. Earlier contribution is at the Company's discretion. As of December 31, 2014, the ESOP loan collateral consisted of 145,007 shares of Verisk Class A common stock valued at $64.05 per share. As of December 31, 2014, the Company had 11,468,151 allocated ESOP shares.

In 2005, the Company established the ISO Profit Sharing Plan (the “Profit Sharing Plan”), a defined contribution plan, to replace the qualified pension plan for all eligible employees hired on or after March 1, 2005. The Profit Sharing Plan is a component of the KSOP. Eligible employees participated in the Profit Sharing Plan if they completed 1,000 hours of service each plan year and were employed on December 31 of that year. The Company can make a discretionary contribution to the Profit Sharing Plan based on the annual performance of the Company. Participants vest once they have completed four years and 1,000 hours of service. For fiscal years 2014, 2013 and 2012, there were no profit sharing contributions.

At December 31, 2014, 2013 and 2012, the fair value of Verisk Class A common stock was $64.05, $65.72, and $50.97 per share, respectively. KSOP compensation expense for 2014, 2013 and 2012 was approximately $15,351, $14,930 and $13,111, respectively.

Equity Compensation Plans

All of the Company’s outstanding stock options and restricted stock are covered under the 2013 Incentive Plan, 2009 Incentive Plan or the 1996 Incentive Plan. Awards under the 2013 Incentive Plan may include one or more of the following types: (i) stock options (both nonqualified and incentive stock options), (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock units, (v) performance awards, (vi) other share-based awards, and (vii) cash. Employees, directors and consultants are eligible for awards under the 2013 Incentive Plan. The Company issued common stock under these plans from the Company's treasury shares. On May 15, 2013, the Company’s shareholders approved the 2013 Incentive Plan.  The number of shares of Class A common stock available for issuance under the 2013 Incentive Plan is 15,700,000 and such amount shall be reduced on a 1-for-1 basis for every share issued that is subject to an option or stock appreciation right and on a 2.5-for-1 basis for every share issued that is subject to an award other than an option or stock appreciation right.  Shares that were subject to an award under the 2013 Incentive Plan that become forfeited, expired or otherwise terminated shall again be available for issuance under the 2013 Incentive Plan on a 1-for-1 basis if the shares were subject to options or stock appreciation rights, and on an 2.5-for-1 basis if the shares were subject to awards other than options or stock appreciation rights. As of December 31, 2014, there were 12,771,637 shares of Class A common stock reserved and available for future issuance. Cash received from stock option exercises for the years ended December 31, 2014, 2013 and 2012 was $24,648, $80,368 and $68,388, respectively.

In 2014, the Company granted 1,145,976 nonqualified stock options to key employees. The nonqualified stock options have an exercise price equal to the closing price of the Company’s common stock on the grant date, with a ten-year contractual term and a service vesting period of four years. In addition, the Company granted 230,196 shares of restricted stock and 588 shares of common stock to key employees. The restricted stock is valued at the closing price of the Company’s common stock on the date of grant and has a service vesting period of four years. The Company recognizes the expense of the restricted stock ratably over the periods in which the restrictions lapse. The restricted stock is not assignable or transferrable until it becomes vested. Also in 2014, the Company granted 33,906 nonqualified stock options that were immediately vested, 62,546 nonqualified stock options with a one-year service vesting period, 3,387 shares of common stock, and 15,807 deferred stock units to the directors of the Company. The nonqualified stock options have an exercise price equal to the closing price of the Company’s common stock on the grant date and a ten-year contractual term.

The fair value of the stock options granted was estimated on the date of grant using a Black-Scholes option valuation model that uses the weighted-average assumptions noted in the following table during the years ended December 31:

	2014			2013			2012
Option pricing model		Black-Scholes			Black-Scholes			Black-Scholes
Expected volatility		20.53	%		29.27	%		32.22	%
Risk-free interest rate		1.48	%		0.70	%		0.90	%
Expected term in years		4.4			4.5			4.7
Dividend yield		—	%		—	%		—	%
Weighted average grant date fair value per stock option	$	11.86		$	15.58		$	13.59

The expected term for a majority of the awards granted was estimated based on studies of historical experience and projected exercise behavior. However, for certain awards granted, for which no historical exercise pattern exists, the expected term was estimated using the simplified method. The risk-free interest rate is based on the yield of U.S. Treasury zero coupon securities with a maturity equal to the expected term of the equity award. The volatility factor is calculated using historical daily closing prices over the most recent period that is commensurate with the expected term of the stock option awards. The volatility factor for stock options granted prior to 2014 was based on the average volatility of the Company's peers as the Company did not have a history of stock price sufficient to cover the expected term of those awards. The volatility factor for stock options granted in 2014 was based on the volatility of the Company's stock. The expected dividend yield was based on the Company’s expected annual dividend rate on the date of grant.

A summary of options outstanding under the Incentive Plan and the Option Plan and changes during the three years then ended is presented below:

	Number of Options			Weighted Average Exercise Price Per Share		Aggregate Intrinsic Value
	(In thousands, except for share and per share data)
Outstanding at January 1, 2012		18,896,405		$	16.55	$	445,510
Granted		973,124		$	47.38
Exercised		(6,880,678	)	$	9.09	$	257,391
Cancelled or expired		(415,553	)	$	19.30
Outstanding at December 31, 2012		12,573,298		$	22.21	$	361,653
Granted		888,038		$	61.10
Exercised		(4,076,750	)	$	19.79	$	168,056
Cancelled or expired		(149,266	)	$	43.14
Outstanding at December 31, 2013		9,235,320		$	26.67	$	360,611
Granted		1,242,428		$	59.83
Exercised		(1,091,746	)	$	22.29	$	43,863
Cancelled or expired		(180,312	)	$	55.23
Outstanding at December 31, 2014		9,205,690		$	31.11	$	303,267
Options exercisable at December 31, 2014		7,159,895		$	24.00	$	286,728
Options exercisable at December 31, 2013		7,169,089		$	20.98	$	320,766

A summary of the status of the Company’s nonvested options and changes is presented below:

	Number of Options			Weighted Average Grant-Date Fair Value Per Share
Nonvested balance at January 1, 2012		6,743,094		$	7.52
Granted		973,124		$	13.59
Vested		(3,524,363	)	$	7.38
Cancelled or expired		(415,553	)	$	5.62
Nonvested balance at December 31, 2012		3,776,302		$	9.43
Granted		888,038		$	15.58
Vested		(2,448,843	)	$	8.81
Cancelled or expired		(149,266	)	$	12.18
Nonvested balance at December 31, 2013		2,066,231		$	12.61
Granted		1,242,428		$	11.86
Vested		(1,082,552	)	$	11.71
Cancelled or expired		(180,312	)	$	13.56
Nonvested balance at December 31, 2014		2,045,795		$	12.55

Intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the quoted price of Verisk’s common stock as of the reporting date. The aggregate intrinsic value of stock options outstanding and exercisable at December 31, 2014 was $303,267 and $286,728, respectively. In accordance with ASC 718, excess tax benefit from exercised stock options is recorded as an increase to additional-paid-in capital and a corresponding reduction in taxes payable. This tax benefit is calculated as the excess of the intrinsic value of options exercised in excess of compensation recognized for financial reporting purposes. The amount of the tax benefit that has been realized, as a result of those excess tax benefits, is presented as a financing cash inflow within the accompanying consolidated statements of cash flows. For the years ended December 31, 2014, 2013 and 2012, the Company recorded excess tax benefit from exercised stock options of $15,988, $58,056 and $88,387, respectively. The Company realized $22,566, $109,946 and $60,672 of tax benefit within the Company’s tax payments through December 31, 2014, 2013 and 2012, respectively.The Company estimates expected forfeitures of equity awards at the date of grant and recognizes compensation expense only for those awards that the Company expects to vest. The forfeiture assumption is ultimately adjusted to the actual forfeiture rate. Changes in the forfeiture assumptions may impact the total amount of expense ultimately recognized over the requisite service period and may impact the timing of expense recognized over the requisite service period. Stock based compensation expense for 2014, 2013 and 2012 was $20,253, $21,087 and $24,696, respectively.

A summary of the status of the restricted stock awarded under the 2013 Incentive Plan and changes is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share
Outstanding at January 1, 2012		145,634		$	33.32
Granted		244,397		$	47.10
Vested		(41,120	)	$	34.51
Forfeited		(17,898	)	$	43.27
Outstanding at December 31, 2012		331,013		$	42.78
Granted		241,674		$	61.12
Vested		(150,668	)	$	37.82
Forfeited		(25,270	)	$	53.00
Outstanding at December 31, 2013		396,749		$	52.82
Granted		246,003		$	59.86
Vested		(163,280	)	$	49.94
Forfeited		(37,162	)	$	55.53
Outstanding at December 31, 2014		442,310		$	56.84

For the year ended December 31, 2014, certain employees had restricted stock vesting and covered the aggregate statutory minimum tax withholding of $1,625 through a net settlement of 27,159 shares. The payment of taxes related to the vesting was recorded as a reduction to additional paid-in-capital. This transaction is reflected within "Net share settlement of restricted stock awards" within cash flows from financing activities in the accompanying consolidated statements of cash flows.

As of December 31, 2014, there was $41,576 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the 2013 Incentive Plan and the 2009 Incentive Plan. That cost is expected to be recognized over a weighted-average period of 2.51 years. As of December 31, 2014, there were 2,045,795 and 442,310 nonvested stock options and restricted stock, respectively, of which 1,652,852 and 366,776 are expected to vest. The total grant date fair value of options vested during the years ended December 31, 2014, 2013 and 2012 was $12,780, $16,468 and $19,834, respectively. The total grant date fair value of restricted stock vested during the year ended December 31, 2014, 2013 and 2012 was $9,839, $7,153 and $3,206, respectively.

The Company also offers eligible employees the opportunity to participate in an employee stock purchase plan ("ESPP"). Under the ESPP, participating employees may authorize payroll deductions of up to 20.0% of their regular base salary and up to 50.0% of their short-term incentive compensation, both of which in total may not exceed $25 in any calendar year, to purchase shares of the Company’s Class A common stock at a 5.0% discount of its fair market value at the time of purchase. In accordance with ASC 718, the ESPP is noncompensatory as the purchase discount is 5.0% or less from the fair market value, substantially all employees that meet limited employment qualifications may participate, and it incorporates no option features. During the years ended December 31, 2014 and 2013, the Company issued 26,953 and 27,879 shares of common stock at a weighted average discounted price of $57.98 and $59.62, respectively.

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Pension and Postretirement Benefits - Summary of Weighted-Average Assumptions Used in Calculating Net Periodic Benefit (Credit) Cost (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Weighted-average assumptions used to determine net periodic benefit (credit) loss:
Expected return on plan assets	7.50%	7.50%
Pension Plan and SERP Plan [Member]
Weighted-average assumptions used to determine benefit obligations:
Discount rate	3.99%	4.74%
Expected return on plan assets	7.50%	7.50%
Weighted-average assumptions used to determine net periodic benefit (credit) loss:
Discount rate	4.73%	3.98%	4.98%
Expected return on plan assets	7.50%	7.50%	7.50%
Rate of compensation increase			4.00%
Postretirement Plan [Member]
Weighted-average assumptions used to determine benefit obligations:
Discount rate	3.00%	3.45%
Expected return on plan assets	4.00%	5.00%
Weighted-average assumptions used to determine net periodic benefit (credit) loss:
Discount rate	3.45%	2.75%	3.50%
Expected return on plan assets	5.00%	5.00%

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Consolidated Financial Information For Guarantor Subsidiaries And Non Guarantor Subsidiaries [Abstract]

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2014

	Verisk Analytics,  Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	330	$	4,131	$	34,898	$	—		$	39,359
Available-for-sale securities		—		3,801		—		—			3,801
Accounts receivable, net		—		148,944		71,724		—			220,668
Prepaid expenses		—		27,433		4,063		—			31,496
Deferred income taxes, net		—		3,334		1,438		—			4,772
Income taxes receivable		20,180		71,376		—		(26,044	)		65,512
Intercompany receivables		706,138		1,250,827		194,565		(2,151,530	)		—
Other current assets		5,147		13,352		376		—			18,875
Total current assets		731,795		1,523,198		307,064		(2,177,574	)		384,483
Noncurrent assets:
Fixed assets, net		—		258,238		44,035		—			302,273
Intangible assets, net		—		58,887		347,589		—			406,476
Goodwill		—		498,075		709,071		—			1,207,146
Investment in subsidiaries		1,772,222		909,565		—		(2,681,787	)		—
Pension assets		—		18,589		—		—			18,589
Other assets		6,684		18,918		761		—			26,363
Total assets	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	14,220	$	120,058	$	46,448	$	—		$	180,726
Short-term debt and current portion of long-term debt		—		335,993		65		—			336,058
Pension and postretirement benefits, current		—		1,894		—		—			1,894
Fees received in advance		—		212,765		39,827		—			252,592
Intercompany payables		1,239,590		888,752		23,188		(2,151,530	)		—
Income taxes payable		—		—		26,044		(26,044	)		—
Total current liabilities		1,253,810		1,559,462		135,572		(2,177,574	)		771,270
Noncurrent liabilities:
Long-term debt		1,045,848		54,729		297		—			1,100,874
Pension and postretirement benefits		—		16,215		—		—			16,215
Deferred income taxes, net		—		82,340		120,200		—			202,540
Other liabilities		—		40,795		2,593		—			43,388
Total liabilities		2,299,658		1,753,541		258,662		(2,177,574	)		2,134,287
Total stockholders’ equity		211,043		1,531,929		1,149,858		(2,681,787	)		211,043
Total liabilities and stockholders’ equity	$	2,510,701	$	3,285,470	$	1,408,520	$	(4,859,361	)	$	2,345,330

CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2013

	Verisk Analytics, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	20,226	$	81,095	$	64,480	$	—		$	165,801
Available-for-sale securities		—		3,911		—		—			3,911
Accounts receivable, net		—		99,578		58,969		—			158,547
Prepaid expenses		—		22,582		3,075		—			25,657
Deferred income taxes, net		—		—		5,086		(9	)		5,077
Income taxes receivable		20,045		66,274		—		(18,973	)		67,346
Intercompany receivables		633,128		525,286		202,018		(1,360,432	)		—
Other current assets		5,144		26,835		2,702		—			34,681
Current assets held-for-sale		—		12,421		883		521			13,825
Total current assets		678,543		837,982		337,213		(1,378,893	)		474,845
Noncurrent assets:
Fixed assets, net		—		198,112		35,261		—			233,373
Intangible assets, net		—		67,407		380,211		—			447,618
Goodwill		—		493,053		688,628		—			1,181,681
Investment in subsidiaries		1,375,128		848,124		—		(2,223,252	)		—
Pension assets		—		60,955		—		—			60,955
Other assets		7,789		11,356		889		—			20,034
Noncurrent assets held-for-sale		—		85,945		—		—			85,945
Total assets	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	22,233	$	102,477	$	63,554	$	—		$	188,264
Short-term debt and current portion of long-term debt		—		4,341		107		—			4,448
Pension and postretirement benefits, current		—		2,437		—		—			2,437
Fees received in advance		—		192,524		34,057		—			226,581
Intercompany payables		446,509		793,517		120,406		(1,360,432	)		—
Deferred income taxes, net		—		9		—		(9	)		—
Income taxes payable		—		—		18,973		(18,973	)		—
Current liabilities held-for-sale		—		8,928		—		521			9,449
Total current liabilities		468,742		1,104,233		237,097		(1,378,893	)		431,179
Noncurrent liabilities:
Long-term debt		1,045,129		225,950		360		—			1,271,439
Pension and postretirement benefits		—		15,068		—		—			15,068
Deferred income taxes, net		—		70,897		127,707		—			198,604
Other liabilities		—		31,809		4,234		—			36,043
Noncurrent liabilities held-for-sale		—		4,529		—		—			4,529
Total liabilities		1,513,871		1,452,486		369,398		(1,378,893	)		1,956,862
Total stockholders’ equity		547,589		1,150,448		1,072,804		(2,223,252	)		547,589
Total liabilities and stockholders’ equity	$	2,061,460	$	2,602,934	$	1,442,202	$	(3,602,145	)	$	2,504,451

Condensed Consolidating Statement of Operations

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2014

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,440,093		$	357,249		$	(50,616	)	$	1,746,726
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			568,858			189,507			(41,767	)		716,598
Selling, general and administrative		—			186,937			49,218			(8,849	)		227,306
Depreciation and amortization of fixed assets		—			72,254			13,252			—			85,506
Amortization of intangible assets		—			10,085			46,785			—			56,870
Total expenses		—			838,134			298,762			(50,616	)		1,086,280
Operating income		—			601,959			58,487			—			660,446
Other income (expense):
Investment income and others		51			398			(291	)		—			158
Interest expense		(54,550	)		(15,401	)		(33	)		—			(69,984	)
Total other expense, net		(54,499	)		(15,003	)		(324	)		—			(69,826	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,499	)		586,956			58,163			—			590,620
Provision for income taxes		20,180			(222,147	)		(17,788	)		—			(219,755	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,319	)		364,809			40,375			—			370,865
Income (loss) from discontinued operations, net of tax		—			29,322			(145	)		—			29,177
Equity in net income of subsidiaries		434,361			32,532			—			(466,893	)		—
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,259,884		$	355,165		$	(19,346	)	$	1,595,703
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			451,393			179,196			(8,066	)		622,523
Selling, general and administrative		1			183,717			56,544			(11,280	)		228,982
Depreciation and amortization of fixed assets		—			52,248			13,942			—			66,190
Amortization of intangible assets		—			13,593			50,148			—			63,741
Total expenses		1			700,951			299,830			(19,346	)		981,436
Operating (loss) income		(1	)		558,933			55,335			—			614,267
Other income (expense):
Investment income and others		43			636			(70	)		—			609
Interest expense		(54,551	)		(21,571	)		(14	)		—			(76,136	)
Total other expense, net		(54,508	)		(20,935	)		(84	)		—			(75,527	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(54,509	)		537,998			55,251			—			538,740
Provision for income taxes		20,045			(198,464	)		(18,007	)		—			(196,426	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(34,464	)		339,534			37,244			—			342,314
Income (loss) from discontinued operations, net of tax		—			6,230			(164	)		—			6,066
Equity in net income of subsidiaries		382,844			29,262			—			(412,106	)		—
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Revenues	$	—		$	1,162,134		$	266,427		$	(20,713	)	$	1,407,848
Expenses:
Cost of revenues (exclusive of items shown separately below)		—			401,724			125,111			(10,127	)		516,708
Selling, general and administrative		—			174,324			56,330			(10,586	)		220,068
Depreciation and amortization of fixed assets		—			36,898			9,739			—			46,637
Amortization of intangible assets		—			17,943			34,264			—			52,207
Total expenses		—			630,889			225,444			(20,713	)		835,620
Operating income		—			531,245			40,983			—			572,228
Other income (expense):
Investment income and others		44			(130	)		192			—			106
Interest expense		(42,848	)		(29,619	)		(41	)		—			(72,508	)
Total other (expense) income, net		(42,804	)		(29,749	)		151			—			(72,402	)
(Loss) income from continuing operations before equity in net income of subsidiaries and income taxes		(42,804	)		501,496			41,134			—			499,826
Provision for income taxes		15,833			(183,025	)		(15,171	)		—			(182,363	)
Net (loss) income from continuing operations before equity in net income of subsidiaries		(26,971	)		318,471			25,963			—			317,463
Income from discontinued operations, net of tax		—			11,679			—			—			11,679
Equity in net income of subsidiaries		356,113			19,159			—			(375,272	)		—
Net income	$	329,142		$	349,309		$	25,963		$	(375,272	)	$	329,142

Condensed Consolidating Statement of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For The Years Ended December 31, 2014, 2013 and 2012

	December 31, 2014
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	400,042		$	426,663		$	40,230		$	(466,893	)	$	400,042
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(1,286	)		(589	)		(697	)		1,286			(1,286	)
Unrealized holding loss on available-for-sale securities		(35	)		(35	)		—			35			(35	)
Pension and postretirement adjustment		(35,705	)		(35,705	)		—			35,705			(35,705	)
Total other comprehensive loss		(37,026	)		(36,329	)		(697	)		37,026			(37,026	)
Comprehensive income	$	363,016		$	390,334		$	39,533		$	(429,867	)	$	363,016

	December 31, 2013
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net income	$	348,380		$	375,026		$	37,080		$	(412,106	)	$	348,380
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(840	)		(778	)		(99	)		877			(840	)
Unrealized holding loss on available-for-sale securities		(147	)		(147	)		—			147			(147	)
Pension and postretirement adjustment		46,659			46,659			—			(46,659	)		46,659
Total other comprehensive income (loss)		45,672			45,734			(99	)		(45,635	)		45,672
Comprehensive income	$	394,052		$	420,760		$	36,981		$	(457,741	)	$	394,052

	December 31, 2012
	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminating Entries			Consolidated
	(In thousands)
Net income	$	329,142		$	349,309		$	25,963	$	(375,272	)	$	329,142
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		15			172			46		(218	)		15
Unrealized holding loss on available-for-sale securities		(197	)		(197	)		—		197			(197	)
Pension and postretirement adjustment		(10,691	)		(10,691	)		—		10,691			(10,691	)
Total other comprehensive (loss) income		(10,873	)		(10,716	)		46		10,670			(10,873	)
Comprehensive income	$	318,269		$	338,593		$	26,009	$	(364,602	)	$	318,269

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2014

		Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
		(In thousands)
Net cash provided by operating activities	$	104		$	336,094		$	153,254		$	—		$	489,452
Cash flows from investing activities:
Acquisitions, net of cash acquired of $304		—			(5,051	)		(30,141	)		—			(35,192	)
Purchase of non-controlling equity investments in non-public companies		—			(5,000	)		—			—			(5,000	)
Proceeds from sale of subsidiary		—			151,170			—			—			151,170
Investment in subsidiaries		—			(30,609	)		—			30,609			—
Intercompany dividends received from subsidiaries		—			114			—			(114	)		—
Repayments received from other subsidiaries		20,000			224,447			19,289			(263,736	)		—
Advances provided to other subsidiaries		—			(5,075	)		—			5,075			—
Capital expenditures		—			(124,513	)		(22,305	)		—			(146,818	)
Purchases of available-for-sale securities		—			(203	)		—			—			(203	)
Proceeds from sales and maturities of available-for-sale securities		—			513			—			—			513
Net cash provided by (used in) investing activities		20,000			205,793			(33,157	)		(228,166	)		(35,530	)
Cash flows from financing activities:
Proceeds from short-term debt, net		—			160,000			—			—			160,000
Proceeds from issuance of intercompany common stock		—			—			30,609			(30,609	)		—
Intercompany dividends paid to subsidiaries		—			—			(114	)		114			—
Repurchases of Class A common stock		—			(778,484	)		—			—			(778,484	)
Repayments of advances to other subsidiaries		(40,000	)		(39,289	)		(184,447	)		263,736			—
Advances received from other subsidiaries		—			—			5,075			(5,075	)		—
Payment of debt issuance costs		—			(465	)		—			—			(465	)
Excess tax benefits from exercised stock options		—			22,566			—			—			22,566
Proceeds from stock options exercised		—			24,648			—			—			24,648
Net share settlement of taxes from restricted stock awards		—			(1,625	)		—			—			(1,625	)
Other financing activities, net		—			(5,613	)		(105	)		—			(5,718	)
Net cash used in financing activities		(40,000	)		(618,262	)		(148,982	)		228,166			(579,078	)
Effect of exchange rate changes		—			(589	)		(697	)		—			(1,286	)
Decrease in cash and cash equivalents		(19,896	)		(76,964	)		(29,582	)		—			(126,442	)
Cash and cash equivalents, beginning of period		20,226			81,095			64,480			—			165,801
Cash and cash equivalents, end of period	$	330		$	4,131		$	34,898		$	—		$	39,359
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	778,484		$	778,484		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	24,648		$	24,648		$	—		$	—		$	—

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2013

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash provided by operating activities	$	42		$	287,956		$	218,922		$	—		$	506,920
Cash flows from investing activities:
Acquisitions		—			(983	)		—			—			(983	)
Investment in subsidiaries		—			(350	)		—			350			—
Proceeds from release of acquisition related escrows		66			214			—			—			280
Repayments received from other subsidiaries		—			206,282			9,605			(215,887	)		—
Advances provided to other subsidiaries		(30,000	)		(68,692	)		—			98,692			—
Capital expenditures		—			(118,307	)		(27,669	)		—			(145,976	)
Purchases of available-for-sale securities		—			(5,870	)		—			—			(5,870	)
Proceeds from sales and maturities of available-for-sale securities		—			7,484			—			—			7,484
Other investing, net		—			(561	)		—			—			(561	)
Net cash (used in) provided by investing activities		(29,934	)		19,217			(18,064	)		(116,845	)		(145,626	)
Cash flows from financing activities:
Repayment of current portion of long-term debt		—			(180,000	)		—			—			(180,000	)
Repayments of short-term debt, net		—			(10,000	)		—			—			(10,000	)
Proceeds from issuance of common stock		—			—			350			(350	)		—
Repurchases of Class A common stock		—			(277,411	)		—			—			(277,411	)
Transfer of cash due to the Verisk Health, Inc. merger		—			2,877			(2,877	)		—			—
Repayments of advances to other subsidiaries		(10,010	)		(9,605	)		(196,272	)		215,887			—
Advances received from other subsidiaries		60,000			30,000			8,692			(98,692	)		—
Payment of debt issuance costs		—			(605	)		—			—			(605	)
Excess tax benefits from exercised stock options		—			109,946			—			—			109,946
Proceeds from stock options exercised		—			80,368			—			—			80,368
Other financing activities, net		—			(6,478	)		(292	)		—			(6,770	)
Net cash provided by (used in) financing activities		49,990			(260,908	)		(190,399	)		116,845			(284,472	)
Effect of exchange rate changes		—			(741	)		(99	)		—			(840	)
Increase in cash and cash equivalents		20,098			45,524			10,360			—			75,982
Cash and cash equivalents, beginning of period		128			35,571			54,120			—			89,819
Cash and cash equivalents, end of period	$	20,226		$	81,095		$	64,480		$	—		$	165,801
Supplemental disclosures:
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	277,411		$	277,411		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	80,368		$	80,368		$	—		$	—		$	—
Increase (decrease) in intercompany balances due to the merger of Verisk Health, Inc.	$	—		$	85,953		$	(85,953	)	$	—		$	—

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For The Year Ended December 31, 2012

	Verisk Analytics, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Entries			Consolidated
	(In thousands)
Net cash (used in) provided by operating activities	$	(20,115	)	$	329,845		$	158,499		$	—		$	468,229
Cash flows from investing activities:
Acquisitions, net of cash acquired of $36,113		—			(762,596	)		(6,917	)		—			(769,513	)
Purchase of non-controlling equity investments in non-public companies		(250	)		(2,000	)		—			—			(2,250	)
Earnout payments		—			—			(250	)		—			(250	)
Escrow funding associated with acquisitions		—			(38,000	)		(800	)		—			(38,800	)
Proceeds from release of acquisition related escrows		—			1,455			—			—			1,455
Repayments received from other subsidiaries		19,400			592,356			—			(611,756	)		—
Advances provided to other subsidiaries		—			(52,000	)		—			52,000			—
Capital expenditures		—			(60,525	)		(13,848	)		—			(74,373	)
Purchases of available-for-sale securities		—			(1,784	)		—			—			(1,784	)
Proceeds from sales and maturities of available-for-sale securities		—			1,932			—			—			1,932
Net cash provided by (used in) investing activities		19,150			(321,162	)		(21,815	)		(559,756	)		(883,583	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt, net of original issue discount		347,224			—			—			—			347,224
Repayment of short-term debt refinanced on a long-term basis		—			(347,224	)		—			—			(347,224	)
Proceeds from short-term debt, net		—			357,224			—			—			357,224
Payment of debt issuance costs		(2,557	)		(1,348	)		—			—			(3,905	)
Repurchases of Class A common stock		—			(162,275	)		—			—			(162,275	)
Repayments of advances provided to other subsidiaries		(419,812	)		(19,400	)		(172,544	)		611,756			—
Advances received from other subsidiaries		—			—			52,000			(52,000	)		—
Excess tax benefits from exercised stock options		—			60,672			—			—			60,672
Proceeds from stock options exercised		—			68,388			—			—			68,388
Other financing activities, net		—			(5,931	)		(618	)		—			(6,549	)
Net cash used in financing activities		(75,145	)		(49,894	)		(121,162	)		559,756			313,555
Effect of exchange rate changes		—			(31	)		46			—			15
(Decrease) increase in cash and cash equivalents		(76,110	)		(41,242	)		15,568			—			(101,784	)
Cash and cash equivalents, beginning of period		76,238			76,813			38,552			—			191,603
Cash and cash equivalents, end of period	$	128		$	35,571		$	54,120		$	—		$	89,819
Supplemental disclosures:
Increase in intercompany balances form the purchase of MediConnect and Argus by ISO	$	17,000		$	790,174		$	773,174		$	—		$	—
Increase in intercompany balances from the purchase of treasury stock by Verisk funded directly by ISO	$	162,275		$	162,275		$	—		$	—		$	—
Increase in intercompany balances from proceeds received by ISO related to issuance of Verisk common stock from options exercised	$	68,388		$	68,388		$	—		$	—		$	—

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Commitments and Contingencies - Minimum Rentals under Long Term Noncancelable Leases for All Leased Premises, Computer Equipment and Automobiles (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Operating Leases
2015	$ 37,958
2016	38,506
2017	37,350
2018	29,074
2019	31,775
2020 and thereafter	260,033
Net minimum lease payments	434,696
Capital Leases
2015	6,295
2016	4,076
2017	791
2018	181
2019	59
2020 and thereafter	85
Net minimum lease payments	11,487
Less amount representing interest	403
Present value of net minimum lease capital payments	$ 11,084

XML

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The components of the provision for income taxes from continuing operations for the years ended December 31 were as follows:

	2014			2013		2012
Current:
Federal and foreign	$	169,153		$	135,215	$	111,713
State and local		26,333			18,764		8,442
Total current provision for income taxes		195,486			153,979		120,155
Deferred:
Federal and foreign		27,009			38,160		56,036
State and local		(2,740	)		4,287		6,172
Total deferred provision for income taxes		24,269			42,447		62,208
Provision for income taxes	$	219,755		$	196,426	$	182,363

Effective Tax Rate on Income from Continuing Operations

The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory tax rate is as follows for the years ended December 31:

	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of federal tax benefit	2.7	%	2.6	%	1.7	%
Non-deductible KSOP expenses	0.9	%	0.9	%	0.9	%
Other	(1.4	)%	(2.0	)%	(1.1	)%
Effective tax rate for continuing operations	37.2	%	36.5	%	36.5	%

Summary of Deferred Tax Assets

The tax effects of significant items comprising the Company’s deferred tax assets as of December 31 are as follows:

	2014			2013
Deferred income tax asset:
Employee wages, pension and other benefits	$	29,756		$	26,113
Deferred revenue		1,835			1,835
Deferred rent		5,463			4,342
Net operating loss carryover		4,292			8,247
State tax adjustments		2,472			1,639
Capital and other unrealized losses		3,255			3,301
Other		4,956			6,720
Total		52,029			52,197
Less valuation allowance		(789	)		(741	)
Deferred income tax asset		51,240			51,456
Deferred income tax liability:
Fixed assets and intangible assets		(242,857	)		(223,639	)
Other		(6,151	)		(21,344	)
Deferred income tax liability		(249,008	)		(244,983	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

The deferred income liability has been classified in “Deferred income taxes, net” in the accompanying consolidated balance sheets as of December 31, as follows:

	2014			2013
Current deferred income tax asset, net	$	4,772		$	5,077
Non-current deferred income tax liability, net		(202,540	)		(198,604	)
Deferred income tax liability, net	$	(197,768	)	$	(193,527	)

Summary of Company's Net Operating Loss Carryforwards Expires

The Company’s net operating loss carryforwards expire as follows:

Years	Amount
2015-2022	$	6,912
2023-2027		13,755
2028-2034		26,674
Total	$	47,341

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefit

A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:

	2014			2013			2012
Unrecognized tax benefit at January 1	$	9,524		$	17,883		$	17,877
Gross increase in tax positions in prior period		2,679			541			911
Gross decrease in tax positions in prior period		—			(4,241	)		(1,494	)
Gross increase in tax positions from stock acquisitions		—			—			3,304
Settlements		—			(390	)		(1,770	)
Lapse of statute of limitations		(1,566	)		(4,269	)		(945	)
Unrecognized tax benefit at December 31	$	10,637		$	9,524		$	17,883

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Condensed Consolidated Financial Information for Guarantor Subsidiaries and Non-Guarantor Subsidiaries - Additional Information (Detail)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 11, 2014
Condensed Financial Statements, Captions [Line Items]
Percent of corporate wholly-owned subsidiaries	20.00%
Verisk Analytics, Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Percent of corporate wholly-owned subsidiaries		100.00%	100.00%
Interthinx [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of voting interests divested				100.00%

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CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Income from discontinued operations, tax	$ 25,305	$ 4,753	$ 7,703

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Compensation Plans - Summary of Restricted Stock Activity Under Incentive Plan (Detail) (Restricted Stock [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restricted Stock [Member]
Number of Shares
Number of shares, outstanding beginning balance	396,749	331,013	145,634
Number of shares, granted	246,003	241,674	244,397
Vested, number of shares	(163,280)	(150,668)	(41,120)
Forfeited, number of shares	(37,162)	(25,270)	(17,898)
Number of shares, outstanding ending balance	442,310	396,749	331,013
Weighted Average Grant Date Fair Value Per Share
Weighted average grant-date fair value per share, outstanding, beginning balance (in dollars per share)	$ 52.82	$ 42.78	$ 33.32
Weighted average grant-date fair value per share, granted (in dollars per share)	$ 59.86	$ 61.12	$ 47.10
Weighted average grant-date fair value per share, vested (in dollars per share)	$ 49.94	$ 37.82	$ 34.51
Weighted average grant-date fair value per share, forfeited (in dollars per share)	$ 55.53	$ 53.00	$ 43.27
Weighted average grant-date fair value per share, outstanding, ending balance (in dollars per share)	$ 56.84	$ 52.82	$ 42.78

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Cash Flows [Abstract]
Net of cash acquired from acquisitions	$ 304	$ 0	$ 36,113

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Fair Value Measurements Fair Value Measurements - Long-Term Debt (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Carrying Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt excluding capitalized leases	$ 1,265,848	$ 1,265,129
Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt excluding capitalized leases	$ 1,371,213	$ 1,335,844

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Stockholders' Equity (Deficit) - Summary of Accumulated Other Comprehensive Losses (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Foreign currency translation adjustment	$ (3,086)	$ (1,800)
Unrealized losses on available-for-sale securities, net of tax	(110)	(75)
Pension and postretirement adjustment, net of tax	(77,318)	(41,613)
Accumulated other comprehensive losses	$ (80,514)	$ (43,488)

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Commitments and Contingencies - Additional Information (Detail) (USD $)	12 Months Ended			0 Months Ended			1 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 11, 2014	Jul. 02, 2013 causeofaction	May 13, 2013 causeofaction	Oct. 31, 2014	Aug. 01, 2014 defendant plaintiff
Contingencies And Commitments [Line Items]
Rent expense on operating leases	$ 35,149,000	$ 32,186,000	$ 29,618,000
Interthinx [Member]
Contingencies And Commitments [Line Items]
Percentage of voting interests divested				100.00%
Interthinx [Member]
Contingencies And Commitments [Line Items]
Loss contingency, number of causes of action					7	3
Period before filing of action for conviction				3 years	4 years
Damages sought							$ 6,000,000
MediConnect [Member]
Contingencies And Commitments [Line Items]
Loss contingency, number of causes of action	4
Insurance Services Office [Member]
Contingencies And Commitments [Line Items]
Number of plaintiffs								19
Number of defendants								120

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Goodwill and Intangible Assets - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill, impairment loss	$ 0	$ 0	$ 0
Purchase accounting reclassifications, change in goodwill		2,724,000
Purchase accounting reclassifications, change in fixed assets		316,000
Purchase accounting reclassifications, change in current liabilities		1,548,000
Purchase accounting reclassifications, change in deferred tax liabilities		1,187,000
Amortization of intangible assets	56,870,000	63,741,000	52,207,000
Argus [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Cash distribution following finalized purchase accounting		$ 305,000

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Pension and Postretirement Benefits

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Postretirement Benefits

Pension and Postretirement Benefits:

The Company maintained a qualified defined benefit pension plan for certain of its employees through membership in the Pension Plan for Insurance Organizations (the “Pension Plan”), a multiple-employer trust. The Company applied a cash balance formula to determine future benefits. Under the cash balance formula, each participant has an account, which is credited annually based on salary rates determined by years of service, as well as the interest earned on the previous year-end cash balance. The Company also has a non-qualified supplemental cash balance plan (“SERP”) for certain employees. The SERP is funded from the general assets of the Company. Effective February 29, 2012, the Company instituted a hard freeze, which eliminated all future compensation and service credits, to all participants in the Pension Plan and SERP. The freeze in 2012 reduced the unfunded pension liability by approximately $10,200 and the Company realized a curtailment gain of $780 in “Cost of revenues” and “Selling, general and administrative” expenses in the accompanying consolidated statements of operations.

The Pension Plan’s funding policy is to contribute annually at an amount between the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974 and the maximum amount that can be deducted for federal income tax purposes. In April 2012, the Company completed a voluntary prefunding to the Pension Plan of $72,000, which resulted in a total contribution of $78,837 for the year, of which $28,206 was the minimum contribution requirement for 2012. Due to the prefunding, the minimum contribution requirement was and is expected to be $0 in 2014 and 2015, respectively. The Company contributed $1,177 and $3,911 to the SERP in 2014 and 2013, respectively, and expects to contribute $777 in 2015.

The Company also provides certain healthcare and life insurance benefits for both active and retired employees. The Postretirement Health and Life Insurance Plan (the “Postretirement Plan”), which has been frozen, is contributory, requiring participants to pay a stated percentage of the premium for coverage. The Company expects to contribute $1,148 to the Postretirement Plan in 2015.

The following table sets forth the changes in the benefit obligations and the plan assets, the (funded) unfunded status of the Pension Plan, SERP and Postretirement Plan, and the amounts recognized in the Company’s consolidated balance sheets at December 31:

	Pension Plan and SERP						Postretirement Plan
	2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation at January 1	$	420,664		$	460,482		$	20,399		$	22,434
Interest cost		19,073			17,860			593			608
Actuarial loss (gain)		61,804			(31,962	)		(411	)		(426	)
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Federal subsidy on benefits paid		—			—			391			260
Benefit obligation at December 31	$	471,259		$	420,664		$	18,773		$	20,399
Accumulated benefit obligation at December 31	$	471,259		$	420,664
Change in plan assets:
Fair value of plan assets at January 1	$	467,912		$	421,134		$	16,601		$	18,766
Actual return on plan assets, net of expenses		36,474			68,583			743			(198	)
Employer contributions, net		1,177			3,911			(305	)		250
Plan participants’ contributions		—			—			2,635			1,748
Benefits paid		(30,282	)		(25,716	)		(4,834	)		(4,225	)
Subsidies received		—			—			391			260
Fair value of plan assets at December 31	$	475,281		$	467,912		$	15,231		$	16,601
(Funded) unfunded status at December 31	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798
Amounts recognized in the consolidated balance sheets consist of:
Pension assets, noncurrent	$	(18,589	)	$	(60,955	)	$	—		$	—
Pension, SERP and postretirement benefits, current		762			700			1,132			1,737
Pension, SERP and postretirement benefits, noncurrent		13,805			13,007			2,410			2,061
Total Pension, SERP and Postretirement benefits	$	(4,022	)	$	(47,248	)	$	3,542		$	3,798

The pre-tax components included within accumulated other comprehensive losses as of December 31 are summarized below:

	Pension Plan and SERP				Postretirement Plan
	2014		2013		2014			2013
Prior service benefit	$	—	$	—	$	(1,000	)	$	(1,147	)
Actuarial losses		120,735		62,226		8,321			9,208
Accumulated other comprehensive losses, pretax	$	120,735	$	62,226	$	7,321		$	8,061

The pre-tax components of net periodic benefit (credit) cost and the amounts recognized in other comprehensive loss (income) are summarized below for the years ended December 31:

	Pension Plan and SERP									Postretirement Plan
	2014			2013			2012			2014			2013			2012
Service cost	$	—		$	—		$	282		$	—		$	—		$	—
Interest cost		19,073			17,860			19,888			593			608			779
Curtailment gain		—			—			(780	)		—			—			—
Expected return on plan assets		(33,942	)		(30,480	)		(28,899	)		(786	)		(919	)		(255	)
Amortization of prior service benefit		—			—			(133	)		(146	)		(146	)		(146	)
Amortization of net actuarial loss		763			5,078			3,646			517			767			634
Net periodic benefit (credit) cost		(14,106	)		(7,542	)		(5,996	)		178			310			1,012
Amortization of actuarial loss reclassified from accumulated other comprehensive losses		(354	)		(1,320	)		(279	)		—			—			—
Amortization of prior service benefit reclassified from accumulated other comprehensive losses		—			—			133			146			146			146
Prior service benefit		—			—			(7,475	)		—			—			—
Net loss recognized reclassified from accumulated other comprehensive losses		(409	)		(3,758	)		(3,368	)		—			—			—
Actuarial gain (loss)		59,272			(70,065	)		26,184			(886	)		(77	)		1,742
Total recognized in other comprehensive loss (income)		58,509			(75,143	)		15,195			(740	)		69			1,888
Total recognized in net periodic benefit (credit) cost and other comprehensive loss (income)	$	44,403		$	(82,685	)	$	9,199		$	(562	)	$	379		$	2,900

The estimated amounts in accumulated other comprehensive losses that are expected to be recognized as components of net periodic benefit (credit) cost during 2015 are summarized below:

	Pension Plan And SERP		Postretirement Plan			Total
Amortization of prior service benefit	$	—	$	(146	)	$	(146	)
Amortization of net actuarial loss		2,969		599			3,568
Total	$	2,969	$	453		$	3,422

The weighted-average assumptions used to determine benefit obligations as of December 31, 2014 and 2013 and net periodic benefit (credit) cost for the years 2014, 2013 and 2012 are provided below:

	Pension Plan and SERP						Postretirement Plan
Weighted-average assumptions used to determine benefit obligations:	2014		2013				2014		2013
Discount rate	3.99	%	4.74	%			3.00	%	3.45	%
Expected return on plan assets	7.50	%	7.50	%			4.00	%	5.00	%
Weighted-average assumptions used to determine net periodic benefit (credit) loss:	2014		2013		2012		2014		2013		2012
Discount rate	4.73	%	3.98	%	4.98	%	3.45	%	2.75	%	3.50	%
Expected return on plan assets	7.50	%	7.50	%	7.50	%	5.00	%	5.00	%	N/A
Rate of compensation increase	N/A		N/A		4.00	%	N/A		N/A		N/A

The following table presents the estimated future benefit payments for the respective plans. The future benefit payments for the Postretirement Plan are net of the federal Medicare subsidy.

	Pension Plan and SERP		Postretirement Plan
	Gross Benefit Amount		Gross Benefit Amount		Medicare Subsidy Payments			Net Benefit Amount
2015	$	29,256	$	2,825	$	(395	)	$	2,430
2016	$	30,070	$	2,660	$	(387	)	$	2,273
2017	$	30,303	$	2,480	$	(378	)	$	2,102
2018	$	30,223	$	2,291	$	(368	)	$	1,923
2019	$	30,692	$	2,093	$	(358	)	$	1,735
2020-2024	$	149,595	$	7,587	$	(1,601	)	$	5,986

The healthcare cost trend rate for 2014 was 7.50% gradually decreasing to 5.00% in 2020. Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plan. A 1.00% change in assumed healthcare cost trend rates would have the following effects:

	1% Increase		1% Decrease
Effect of total service and interest cost components of net periodic postretirement healthcare benefit cost	$	12	$	(11	)
Effect on the healthcare component of the accumulated postretirement benefit obligation	$	516	$	(477	)

The expected subsidy from the Medicare Prescription Drug, Improvement and Modernization Act of 2003 reduced the Company’s accumulated postretirement benefit obligation by approximately $3,182 and $2,868 as of December 31, 2014 and 2013, and the net periodic benefit cost by approximately $10, $19 and $114 in fiscal 2014, 2013 and 2012, respectively.

The expected return on the Pension Plan assets for 2014 and 2013 was 7.50%, which was determined by taking into consideration the Company’s analysis of its actual historical investment returns to a broader long-term forecast after adjusting for the target investment allocation and reflecting the current economic environment. The Company’s investment guidelines target investment allocation of 60% equity securities and 40% debt securities. The Pension Plan assets consist primarily of investments in various fixed income and equity funds. Investment guidelines are established with each investment manager. These guidelines provide the parameters within which the investment managers agree to operate, including criteria that determine eligible and ineligible securities, diversification requirements and credit quality standards, where applicable. Investment managers are prohibited from entering into any speculative hedging transactions. The investment objective is to achieve a maximum total return with strong emphasis on preservation of capital in real terms. The domestic equity portion of the total portfolio should range between 40% and 60%. The international equity portion of the total portfolio should range between 10% and 20%. The fixed income portion of the total portfolio should range between 20% and 40%. The asset allocation at December 31, 2014 and 2013, and target allocation for 2015 by asset category are as follows:

Asset Category	Target Allocation		Percentage of Plan Assets
			2014		2013
Equity securities	60.00	%	56.80	%	66.80	%
Debt securities	40.00	%	41.30	%	33.20	%
Other	—	%	1.90	%	—	%
Total	100.00	%	100.00	%	100.00	%

The Company has used the target investment allocation to derive the expected return as the Company believes this allocation will be retained on an ongoing basis that will be commensurate with the projected cash flows of the plan. The expected return for each investment category within the target investment allocation is developed using average historical rates of return for each targeted investment category, considering the projected cash flow of the Pension Plan. The difference between this expected return and the actual return on plan assets is generally deferred and recognized over subsequent periods through future net periodic benefit costs. The Company believes that the use of the average historical rates of returns is consistent with the timing and amounts of expected contributions to the plans and benefit payments to plan participants. These considerations provide the basis for reasonable assumptions with respect to the expected long-term rate of return on plan assets.

The Company also maintains a voluntary employees beneficiary association plan (the “VEBA Plan”) under Section 501(c)(9) of the Internal Revenue Code to fund the Postretirement Plan. The asset allocation for the VEBA Plan at December 31, 2014 and target allocation for 2015 are 100% in debt securities.

The following table summarizes the fair value measurements by level of the Pension Plan and Postretirement Plan assets. Refer to Note 7. Fair Value Measurements for further discussion with respect to fair value hierarchy.

	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
December 31, 2014
Equity
Managed equity accounts (1)	$	83,690		$	83,690	$	—		$	—
Equity — pooled separate account (2)		186,102			—		186,102			—
Equity — partnerships (3)		240			—		—			240
Debt
Fixed income manager — pooled separate account (2)		196,034			—		196,034			—
Fixed income manager — government securities (4)		15,231			15,231		—			—
Other
Cash — pooled separate account (2)		9,215			—		9,215			—
Total	$	490,512		$	98,921	$	391,351		$	240
December 31, 2013
Equity
Managed equity accounts (1)	$	110,852		$	110,852	$	—		$	—
Equity — pooled separate account (2)		200,947			—		200,947			—
Equity — partnerships (3)		635			—		—			635
Debt
Fixed income manager — pooled separate account (2)		165,157			—		165,157			—
Fixed income manager — government securities (4)		16,601			16,601		—			—
Other
Cash deficit — pooled separate account (2)		(9,679	)		—		(9,679	)		—
Total	$	484,513		$	127,453	$	356,425		$	635

(1) Valued at the closing price of shares for domestic stocks within the managed equity accounts, and valued at the net asset value (“NAV”) of shares for mutual funds at either the closing price reported in the active market or based on yields currently available on comparable securities of issuers with similar credit ratings for corporate bonds held by the Pension Plan in these managed accounts.

(2) The pooled separate accounts invest in domestic and foreign stocks, bonds and mutual funds. The fair values of these stocks, bonds and mutual funds are publicly quoted and are used in determining the NAV of the pooled separate account, which is not publicly quoted.

(3) Investments for which readily determinable prices do not exist are valued by the General Partner using either the market or income approach. In establishing the estimated fair value of investments, including those without readily determinable values, the General Partner assumes a reasonable period of time for liquidation of the investment, and takes into consideration the financial condition and operating results of the underlying portfolio company, nature of investment, restrictions on marketability, holding period, market conditions, foreign currency exposures, and other factors the General Partner deems appropriate.

(4) The fund invested in the U.S. government, its agencies or instrumentalities or securities that are rated AAA by S&P, AAA by Fitch, or Aaa by Moody’s, including but not limited to mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage backed securities, and valued at the closing price reported in the active market.

The following table sets forth a summary of changes in fair value of the Pension Plan’s Level 3 assets for the years ended December 31:

	Equity-partnerships
	2014			2013
Balance at January 1	$	635		$	1,022
Realized and unrealized loss on plan assets, net		(395	)		(387	)
Balance at December 31	$	240		$	635

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Income Taxes - Summary of Company's Net Operating Loss Carryforwards Expires (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 47,341
2015-2022 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	6,912
2023-2027 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	13,755
2028-2034 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 26,674

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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Business Acquisition [Line Items]

Schedule of Unaudited Pro Forma Information

The unaudited pro forma information includes intangible asset amortization charges and incremental borrowing costs as a result of the acquisitions, net of related tax, estimated using the Company’s effective tax rate for continuing operations for the years ended December 31:

	2012
	(unaudited)
Pro forma revenues	$	1,462,677
Pro forma net income	$	321,140
Pro forma basic income per share	$	1.94
Pro forma diluted income per share	$	1.87

2014 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price Allocations of the Acquisitions

The preliminary purchase price allocation of the acquisition resulted in the following:

		Maplecroft
Accounts receivable	$	1,833
Current assets		543
Fixed assets		98
Intangible assets		13,270
Goodwill		21,369
Total assets acquired		37,113
Current liabilities		4,318
Deferred income taxes, net		2,654
Total liabilities assumed		6,972
Net assets acquired	$	30,141

Amounts Assigned to Intangible Assets

The preliminary amounts assigned to intangible assets by type for the acquisition are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based	10 years	$	3,202
Marketing-related	10 years		458
Customer-related	10 years		9,610
Total intangible assets	10 years	$	13,270

2012 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Preliminary Purchase Price Allocations of the Acquisitions

The preliminary purchase price allocations of the acquisitions resulted in the following:

	MediConnect		Argus		Others		Total
Accounts receivable	$	7,077	$	12,165	$	489	$	19,731
Current assets		17,238		568		68		17,874
Fixed assets		1,075		4,994		76		6,145
Intangible assets		159,506		179,316		9,264		348,086
Goodwill		222,976		277,857		29,875		530,708
Other assets		5,087		20,000		1,801		26,888
Total assets acquired		412,959		494,900		41,573		949,432
Current liabilities		15,007		9,661		4,625		29,293
Deferred income taxes, net		40,836		40,244		—		81,080
Other liabilities		8,711		20,000		1,809		30,520
Total liabilities assumed		64,554		69,905		6,434		140,893
Net assets acquired	$	348,405	$	424,995	$	35,139	$	808,539

Amounts Assigned to Intangible Assets

The amounts assigned to intangible assets by type for the acquisitions are summarized in the table below:

	Weighted Average Useful Life		Total
Technology-based		10 years	$	77,936
Marketing-related		5 years		30,331
Customer-related		13 years		239,819
Total intangible assets		11 years	$	348,086

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Discontinued Operations

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations:

On March 11, 2014, the Company sold 100% of the stock of the Company’s mortgage services business, Interthinx, which was a guarantor subsidiary, in exchange for a purchase price of $151,170. At the completion of the sale, Interthinx ceased being a guarantor. The cash received was adjusted subsequent to close to reflect final balances of certain working capital accounts and other closing adjustments. The Company recognized income from discontinued operations, net of tax, of $29,177 during 2014. Results of operations for the mortgage services business are reported as a discontinued operation for the year ended December 31, 2014 and for all prior periods presented. Refer to Note 18. Segment Reporting for further discussion.

The mortgage services business met the criteria for being reported as a discontinued operation and has been segregated from continuing operations. The following table summarizes the results from the discontinued operation for the years ended December 31:

	2014			2013			2012
Revenues from discontinued operations	$	11,512		$	109,151		$	126,472
Income from discontinued operations before income taxes (including gain on sale of $65,410 in 2014)		54,482			10,819			19,382
Provision for income taxes (including tax on the gain on sale in 2014)		(25,305	)		(4,753	)		(7,703	)
Income from discontinued operations, net of tax	$	29,177		$	6,066		$	11,679

The following table summarizes the assets held-for-sale and the liabilities held-for-sale as of December 31, 2013:

Accounts receivable, net	$	15,295
Income taxes payable		(3,005	)
Other current assets		1,535
Total current assets held-for-sale	$	13,825
Fixed assets, net	$	7,670
Intangible assets, net		9,018
Goodwill		69,207
Other assets		50
Total noncurrent assets held-for-sale	$	85,945
Accounts payable and accrued liabilities	$	8,272
Fees received in advance		1,177
Total current liabilities held-for-sale	$	9,449
Deferred income taxes, net	$	3,975
Other liabilities		554
Total noncurrent liabilities held-for-sale	$	4,529

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Segment Reporting - Reconciliation Income Before Income Taxes (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenues	$ 1,746,726,000	$ 1,595,703,000	$ 1,407,848,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	716,598,000	622,523,000	516,708,000
Selling, general and administrative	227,306,000	228,982,000	220,068,000
Investment income and others	(158,000)	(609,000)	(106,000)
EBITDA from discontinued operations	55,588,000	15,466,000	24,737,000
EBITDA	858,568,000	760,273,000	695,915,000
Depreciation and amortization of fixed assets	85,506,000	66,190,000	46,637,000
Amortization of intangible assets	56,870,000	63,741,000	52,207,000
Operating income	660,446,000	614,267,000	572,228,000
Decision Analytics [Member]
Segment Reporting Information [Line Items]
Revenues	1,096,074,000	977,427,000	828,342,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	508,411,000	427,978,000	334,280,000
Selling, general and administrative	153,453,000	151,557,000	139,122,000
Investment income and others	0	16,000	22,000
EBITDA from discontinued operations	55,588,000	15,466,000	24,737,000
EBITDA	489,798,000	413,342,000	379,655,000
Depreciation and amortization of fixed assets	64,826,000	51,739,000	33,106,000
Amortization of intangible assets	56,517,000	63,388,000	52,207,000
Operating income	312,867,000	282,765,000	269,627,000
Risk Assessment [Member]
Segment Reporting Information [Line Items]
Revenues	650,652,000	618,276,000	579,506,000
Expenses:
Cost of revenues (exclusive of items shown separately below)	208,187,000	194,545,000	182,428,000
Selling, general and administrative	73,853,000	77,425,000	80,946,000
Investment income and others	(158,000)	(625,000)	(128,000)
EBITDA from discontinued operations	0	0	0
EBITDA	368,770,000	346,931,000	316,260,000
Depreciation and amortization of fixed assets	20,680,000	14,451,000	13,531,000
Amortization of intangible assets	353,000	353,000	0
Operating income	$ 347,579,000	$ 331,502,000	$ 302,601,000