A.M. Best Affirms B++ Rating On Blue Cross Life Ins. of Canada.OLDWICK, N.J.--(BUSINESS WIRE)--Oct. 18, 1999-- A.M. Best Co. today affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its B++ (Very Good) rating on Blue Cross Life Insurance Company of Canada, Moncton, New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. . The rating reflects the company's strategic role as a subsidiary of four Canadian Blue Cross plans and its favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. capitalization. In addition, Blue Cross Life benefits from the Blue Cross name, the plans' strong distribution system and their low-cost infrastructure--primarily due to the plans' administration systems. Offsetting these strengths are Blue Cross Life's product concentration and continued challenges in expanding its life and disability income market presence in Canada. The company has implemented rate increases on its long-term disability business in response to declining interest rates and tightening of the Canada Pension Plan The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It forms one of the two major components of Canada's public retirement income system, the other component being Old Age Security (OAS). disability adjudication The legal process of resolving a dispute. The formal giving or pronouncing of a judgment or decree in a court proceeding; also the judgment or decision given. The entry of a decree by a court in respect to the parties in a case. rules, realizing that the impact of these increases will take time to have a measurable impact. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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