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AM Best issues financial-strength ratings measuring insurance companies' ability to pay claims. It also rates financial instruments issued by insurance companies, such as bonds, notes, and securitization products. [3] AM Best publishes a series of printed and online resources of insurance professionals and publications.
The most well-known insurance specific rating company, the scores provided by AM Best are often considered the yardstick for financial strength in the industry. The highest rating offered is A++ ...
Traditional companies such as AM Best, Moody's Investors Service, Standard and Poor’s, and Fitch Ratings do rate insurance providers, but typically only large national companies. [4] Demotech was founded in 1985 [ 1 ] [ 2 ] to provide financial analysis of, and actuarial services for, niche markets ignored by Big Three (credit rating agencies) .
Administrative data are electronic records of services, including insurance claims and registration systems from hospitals, clinics, medical offices, pharmacies and labs. For example, a measure titled Childhood Immunization Status requires health plans to identify 2-year-old children who have been enrolled for at least a year.
The company is a primarily direct reinsurer and is represented in all major reinsurance markets worldwide through a network of more than 40 offices. Gen Re is a wholly owned subsidiary of Berkshire Hathaway Inc. Financial strength ratings of Gen Re's reinsurance operations: A.M. Best: A++ (Superior) [2]
Company financial strength and reputation. Look for insurers with strong financial ratings from agencies like A.M. Best, which indicates their ability to pay claims reliably.
In the wake of the financial crisis, the Financial Crisis Inquiry Report [6] called out the "failures" of the Big Three rating agencies as "essential cogs in the wheel of financial destruction". According to the Financial Crisis Inquiry Commission, [7] The three credit rating agencies were key enablers of the financial meltdown.
AM Best Company financial strength rating: A+ (Superior rating), and Financial Size Category: XV. [26] As of 2010, NJM's Best rating has been "A" or better every year except for a "C" rating in 1933. [27] NJM generated zero valid complaints in 2010, [28] 2012, [29] and 2013, [30] according to the New Jersey Department of Banking and Insurance ...