A.M. Best Affirms Ratings of Safety Group and Safety Insurance Group; Assigns Ratings to Safety Property and Casualty.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A (Excellent) and the issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a" of Safety Group (Safety) and its inter-company pool members, Safety Insurance Company (Safety Insurance) and Safety Indemnity Insurance indemnity insurance Managed care A type of health insurance in which a Pt can choose the hospital and provider, and the insurer reimburses the Pt or provider for a set percentage of the cost, minus deductibles and co-payments Company (Safety Indemnity). In addition, A.M. Best has assigned an FSR of A (Excellent) and an ICR of "a" to Safety's other inter-company pool member, Safety Property and Casualty Insurance Company (Safety P&C). Concurrently, A.M. Best has affirmed the ICR of "bbb" of Safety's publicly traded holding company, Safety Insurance Group, Inc. (Delaware) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SAFT SAFT Safety SAFT Simple Asynchronous File Transfer SAFT Statistical Associating Fluid Theory SAFT Synthetic Aperture Focusing Technique ). The outlook for all ratings is stable. All companies are domiciled dom·i·cile n. 1. A residence; a home. 2. One's legal residence. v. dom·i·ciled, dom·i·cil·ing, dom·i·ciles v.tr. 1. in Massachusetts, except where specified. The FSR of Safety reflects its strong capitalization, improved operating performance and market position as a leading personal automobile writer in Massachusetts. The FSR also acknowledges the group's favorable loss reserve development and low investment leverage. Partially offsetting these positive rating factors is Safety's elevated, albeit recently improved, underwriting leverage position, limited product scope and geographic concentration. Business is focused on the highly regulated private passenger automobile market in Massachusetts. Based on 2005 direct premium writings, Safety was the second-largest writer of private passenger automobile premiums in Massachusetts with an 11.3% market share. In addition to its personal automobile product offering, Safety provides commercial automobile and homeowners' coverages throughout the state through Safety Insurance, Safety Indemnity and Safety P&C. Safety also writes personal and commercial automobile business for the Commonwealth Automobile Reinsurers (CAR), the Massachusetts assigned risk A danger or hazard of loss or injury that an insurer will not normally accept for coverage under a policy issued by the insurer, but that the insurance company is required by state law to offer protection against by participating in a pool of insurers who are also compelled to provide pool. The FSR of A (Excellent) and the ICRs of "a" have been affirmed for Safety Group and its following members: * Safety Insurance Company * Safety Indemnity Insurance Company An FSR of A (Excellent) and ICR of "a" have been assigned to Safety Property and Casualty Insurance Company. The ICR of "bbb" has been affirmed for Safety Insurance Group, Inc. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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