Tag Archives: carrier financials

What do you do when one of your carriers is downgraded?

Within the next 3 – 4 months, the various rating agencies will be looking at the financials for the vast majority of insurance carriers. In the overwhelming number of situations, the rating will not change but what if it does? … Continue reading

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What is your procedure when one of your carriers rating drops?

Typically during the next several months, the various financial rating agencies will be reviewing the 2015 financials from most of the insurance carriers, including the majority of the P&C and L&H carriers. Historically for each year this vital process has … Continue reading

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What companies are you using for your E&S business?

For the most part, agents are very good at having a standard that requires their carriers meet a certain AM Best rating. Typically, I see A- as that standard although from time to time, some agents will drop down to … Continue reading

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Is there an E&O impact when the rating of one of your carriers changes?

While most agencies are pretty good about checking the ratings of the carriers they do business with, these same agencies seem to focus on the ratings changes that occur around mid-year when the various rating organizations (AM Best, Demotech, S&P, … Continue reading

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Has the financial rating of any of your insurance carriers changed?

Over the last couple of months, the vast majority of the insurance carriers have seen their financials reviewed by one or more of the rating agencies (AM Best, Demotech, S&P, Moody’s, etc.). While it appears that the majority of the … Continue reading

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Your insurance agency proposals – do they include these things?

Ask virtually any insurance producer the purpose of a client proposal and you will undoubtedly hear that “the goal is to sell the account”. While it is hard to really argue that point, the insurance proposals that insurance agencies provide (whether … Continue reading

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What is today’s financial rating of each of your carriers?

When was the last time you checked? Over the next couple of months, the majority of the carriers will be submitting their financial data to the various rating organizations. Based on how the rating agency (example AM Best) views those … Continue reading

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Do you know the latest rating of your carriers?

This is the time of the year when AM Best is extremely active in reviewing carrier financials and updating the specific ratings. For agents, it is certainly very important to be monitoring these ratings for possible action. In many cases, carriers will … Continue reading

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