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Ratings for insurance companies matter because they highlight the financial stability of an insurer and help people gauge if the company will be able to provide them with the money they need in ...
Bennetts was founded by Frederick J Bennett in 1930 in Coventry. Trading as F.J. Bennett and Sons, they initially provided general insurance services for customers in the West Midlands. By the early 1980s, trading as G.F. Bennett and Co and managed by Frederick's son Gordon, the company focussed on providing motorcycle insurance. [2]
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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).
In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
AM Best is another example of a third-party company that further analyzes an insurance carrier’s performance. Specifically, AM Best reviews a carrier’s historical financial health and strength ...
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