A.M. Best Expands Public Issuance of Issuer Credit Ratings.OLDWICK, N.J. -- A.M. Best Co. is expanding its public issuance of 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. ) on insurance companies. Over the next year, A.M. Best expects to publish ICRs on all rated direct insurers and reinsurers as part of each company's normal annual rating review. ICRs will appear on our Web site at www.ambest.com, and in press releases, where appropriate, announcing rating actions. A.M. Best is expanding its ICR coverage to provide additional information and transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. to the marketplace, while responding to increased requests from third parties for ratings using the credit market scale. "The ICR is an essential 'bridge' between A.M. Best's traditional 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. ) scale and the credit market scale that provides a clear correlation of ratings," Larry Lar´ry n. 1. Same as Lorry, or Lorrie. Mayewski, A.M. Best's executive vice president and chief rating officer, explained. "In so doing, the ICR enhances differentiation, thereby benefiting certain users of Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. ." The ICR complements A.M. Best's traditional FSR by providing operating insurers with a credit market equivalent rating in markets where that scale is the norm. "It is not unusual for users of our ratings to equate e·quate v. e·quat·ed, e·quat·ing, e·quates v.tr. 1. To make equal or equivalent. 2. To reduce to a standard or an average; equalize. 3. a particular Best's Rating to the wrong credit market level," Mayewski said. "The public dissemination dissemination Medtalk The spread of a pernicious process–eg, CA, acute infection Oncology Metastasis, see there of ICRs on all rated insurers and reinsurers will eliminate any confusion that may exist." A.M. Best's FSR continues to be the primary global benchmark for assessing an insurer's financial strength. A.M. Best's proprietary FSR scale has 14 different rating levels compared with 22 levels within the credit market scale. Previously, A.M. Best published ICRs only on reinsurers, subsidiaries of public debt issuers and publicly-traded companies, and operating companies operating company A business that engages in transactions with outsiders. in non-U.S. markets where it was deemed useful. That would include markets where the use of the credit scale is more prevalent. Outside of the U.S. and in non-insurance markets, the 22-level credit market scale is widely recognized. Wherever the credit scale is the common language used, it will be of greatest value to the user of ratings for A.M. Best to assign the credit market equivalent (ICR) of its financial strength rating. This is why A.M. Best also chose to express its debt rating opinions using a traditional credit market scale. The criteria for determining a Best's ICR can be found in A.M. Best's Ratings & the Treatment of Debt, which can be accessed at Treatment of Debt. Best's Ratings (i.e., FSRs, ICRs and debt ratings) can be accessed via A.M. Best's Web site at www.ambest.com. For Frequently Asked Questions and to view the FSR to ICR Translation table, visit ICR. 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion