A.M. Best Affirms Ratings of Transportation Property & Casualty Company Inc.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Transportation Property & Casualty Company Inc (TPCC TPCC Trade Promotion Coordinating Committee TPCC Transaction Processing Performance Council TPCC Third Party Call Control TPCC Templer Park Country Club (Malaysia) TPCC Trent Palliative Care Centre TPCC Timber Productivity Capability Classification ) (British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Canada). The outlook for both ratings is stable. These ratings are based on TPCC's excellent capitalization and operating performance and its favorable profile as part of the Greater Vancouver Transportation Authority (GVTA GVTA Greater Vancouver Transportation Authority GVTA Grand Valley Trails Association (Canada) GVTA Great Valley Technology Alliance GVTA Greater Victoria Teachers Association (Canada) ) and BC Transit This article is about BC Transit. For B.C. Transit in Broome County, New York, see Broome County Transit. BC Transit is a provincial crown agency responsible for coordinating the delivery of public transportation within British Columbia, Canada, outside of . Partially offsetting these positive rating factors are the company's relatively small scale of operations and dependence on reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. to participate in its policyholders' high excess coverage limits. TPCC is owned by the GVTA (90%) and BC Transit (10%), which are public transportation authorities in the Canadian province Noun 1. Canadian province - Canada is divided into 12 provinces for administrative purposes province, state - the territory occupied by one of the constituent administrative districts of a nation; "his state is in the deep south" of British Columbia. TPCC is a sophisticated captive insurance Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, they sometimes also insure risks of the parent company's customers. company, which provides primary insurance coverage solely to these shareholders. The captive also participates in excess liability and property insurance agreements for its shareholders; however, it cedes 100% of these participations to well-rated reinsurers. TPCC has demonstrated its usefulness and effectiveness to the transportation authorities over many years by providing them flexibility for insurance program structuring and substantial insurance cost efficiencies. It is an integral part of these entities' existing projects and future planning. A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world. For current Best's Ratings and independent data on the captive and alternative insurance market, please visit www.ambest.com/captive. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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