Insurance Company Rating FAQ
Should I do business with a company that's financially below average? No, because there are plenty of companies with good or average financial ratings.
What if one company is slightly stronger then another? Look at the other facets of the policy such as terms, premiums etc.
What if a company I currently use has it’s financial status lowered? Find out why the
company’s had it’s rating lowered, but remember that virtually no insurance
company has been unable to pay claims. What if a company doesn’t have a rating? This is better than having a bad rating. Smaller companies may not have the funds or feel they need to be rated. Look at the terms of the policy
A.M. Best
is the oldest independent financial rating agency. Order a report directly over the Internet.
Moody’s
is a financial rating agency that’s been around since 1909. They look at risk and debt
worthiness. Phone: 212-553-0377
Duff & Phelps
is another well-known independent financial rating agency that evaluates claims paying ability.
Phone: 312-629-3833
Standard & Poor’srates the financial stability of insurance companies in a number of categories.
Phone: 212-208-1527
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