A.M. Best Special Report: Key Measures on Non-Rated Property/Casualty Companies.
The current universe of letter-rated property/casualty insurers accounts for roughly 95% of the total premium written in the United States. In addition to letter-rated companies, A.M. Best also reports on many companies that are not assigned a rating opinion. These non-rated (NR) companies are assigned one of five NR categories and are grouped by the composite that best matches their business profile.
Individual company results vary widely relative to the composite medians. Of the NR companies that fall into the Commercial Auto and Medical Malpractice composites, operating performance generally is reported at acceptable levels, while overall capitalization appears to fall short relative to underlying risks. In contrast, the NR companies that fall into the Professional Fidelity and Surety Composite generally are well capitalized but have a wide disparity in their operating performance. Those NR companies that fall into the Commercial Casualty, Private Passenger Auto or Property composites experience wide disparity in both their operating performance and levels of capital relative to their risks.
The NR companies that fall into the Workers' Compensation Composite include several large state funds that represent the largest NR companies based on surplus size and premium volume. The NR companies (both state fund and non-state fund) that fall into the Workers' Compensation Composite report the least dispersion of underwriting performance and leverage measures relative to NR companies in other composites.
BestWeek subscribers can download a PDF copy of all full special reports at no additional cost or a combination of the PDF copies plus all related spreadsheet files of the report data at no additional cost from our Web site at www.bestweek.com.
Nonsubscribers can download a PDF copy of the full special report (20 pages) for $85 or a combination of the PDF copy plus the spreadsheet file of the report data for $220 from our Web site at www.bestweek.com.
Call customer service for more information, (908) 439-2200, ext. 5742.
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com.
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|Date:||Oct 9, 2006|
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