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Insurance
Is About Security.
Ensure Your Insurer Is Secure. ....
Another highly respected security rating company is Standard and Poor’s, the
largest insurance rating organisation in the world.
The Insurance Ratings Division maintains reports and ratings on
more than 4,000 insurance entities in approximately 70 countries
across all market sectors – more than any other rating agency.
Financial Strength Ratings
represents Standard & Poor’s opinion of the financial security
characteristics of an insurance organisation.
This opinion is with respect to the organisations ability
to pay under its insurance policies and contracts, in accordance with
their terms.
Standard
& Poor’s began rating the financial security of insurance
companies in 1971. This
includes life, health, property/casualty, reinsurers, title, mortgage,
and bond insurers. Standard & Poor’s remains at the forefront of
originating new ratings criteria and methodologies.
The
direct access to national and international insurance and financial
markets, their conditions and development supports the highest-quality
rating information.
Standard
& Poor’s core values remain the same: helping people around the
world make well-informed financial decisions by providing impartial,
value-added, analytically driven solutions.
Standard
& Poor’s breaks the spectrum of credit quality into two main
segments: “secure” and “vulnerable”.
The secure categories are representative of companies
they feel represent good security and have financial security
characteristics that outweigh any vulnerabilities.
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The
“Secure” range has four main categories: -
·
‘AAA’
Extremely Strong
·
‘AA’
Very Strong
·
‘A’
Strong
·
‘BBB’
Good
As
the intention of insurance is security in the event of a claim, it is
our recommendation that sport and recreation organisations only insure
with companies rated as “Secure” by either of A.M. Best or
Standard and Poor’s.
Written
by Rod Hughes, CEO, IEA Brokers Pty Ltd, October 2002
The
editor of the IEA Sport Monthly Update is joint Chief Executive
Officer, Rod Hughes.
IEA
has offices in every state. National freecall number 1800 SPORT
1
(1800 77678 1)
Email:info@ieasport.com.au
Disclaimer The
information provided in this Email and on the IEA web-site is to be
used as a reference only. IEA accepts no responsibility for the
accuracy of the information or your reliance upon it. The
views of contributors are their own and do not necessarily represent
the views of IEA
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