Rating agency A.M. Best has recently issued a report indicating that three insurance companies have become financially impaired thus far in 2009.
A.M. Best considers an insurance company impaired once a state department of insurance has taken its first official regulatory action against the company.
The three carriers considered impaired are:
- Shenandoah Life Insurance Company
- American Network Insurance Company
- Penn Treaty Network America Insurance Company
A.M. Best indicated that more impaired statuses are likely to follow, and also that 2009 has seen 64 ratings downgrades in 2009 and only 3 upgrades.
Source: Investment News
Key Phrases:
- Log in to post comments
