A.M. Best Upgrades CPIC Life's Rating to "A-" Excellent.SAN FRANCISCO--(BW HealthWire)--June 1, 1998--CPIC Life has received an independent A- (Excellent) rating from A.M. Best, confirming its status as a viable choice for California's largest employers. The new rating of A- (Excellent) reflects an upgrade from a B++ (Very Good) rating which CPIC CPIC Canadian Police Information Centre CPIC China Pacific Insurance (Group) Co. Ltd. CPIC Capital Planning & Investment Control CPIC Combined Press Information Center CPIC Coalition Press Information Center Life has held for many years. "A.M. Best's rating 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. acknowledges CPIC Life's consistently strong financial performance and our ability to meet the needs of employers of all sizes," stated Debra Bowles, president and chief executive officer, CPIC Life. "CPIC Life's recognition by A.M. Best as an A- rated company will significantly increase their opportunities in the marketplace. Like many other consultants and brokers, we typically only consider Excellent or Superior rated life insurance companies when making recommendations to our clients," said Mark W. Agnew, Senior Consultant in the San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden office of Watson Wyatt Worldwide, a leading actuarial, benefits and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . According to A.M. Best, the A- rating reflects the company's consistently profitable insurance operations, high credit quality and conservative balance sheet, strong liquidity position and excellent capitalization. CPIC Life's products are primarily marketed through the Blue Shield of California Blue Shield of California is a not-for-profit health insurance provider headquartered in San Francisco, California. An independent licensee of the Blue Cross and Blue Shield Association, Blue Shield of California is an incorporated, wholly owned subsidiary of California Physicians' distribution system of sales representatives and independent agents, brokers and consultants. CPIC Life also works through agents, brokers and consultants in Arizona and other western states. With over $4.5 billion in insurance volume and $35 million in total premiums, CPIC Life is among the top 30 life insurance companies in California. In addition, CPIC Life is recognized as an industry leader in individual short-term health products in California and continues to innovate with additional features and options. In a related rating action, A.M. Best assigned a first-time rating of A- to California Physicians' Service, San Francisco, which does business as Blue Shield of California. Additionally, CareAmerica Life Insurance Company (CALIC CALIC Context-Based, Adaptive, Lossless Image Coder CALIC Centro de Asistencia Legal de Incidencia Contra la Corrupción (Guatemala, Central América) ), also a Blue Shield of California subsidiary, received an upgrade from B++ to A-. The rating reflects the Blue Shield's good position in the small group-individual health market in California, its good profitability, strong provider networks and relationships, and its diversified product portfolio. A.M. Best believes the company's broad product portfolio, combined with the support of a strong provider network, provides substantial competitive advantages in providing access to healthcare providers and in ultimately controlling medical costs. Blue Shield of California is a not-for-profit health plan that offers easy access to a choice of quality health care plans. Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. is also one of the state's leading health care companies, serving more than 2 million members, with a variety of healthcare plans and generating more than $2 billion in annual revenues. The San Francisco-based organization operates Access+HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , California's fastest growing HMO that grew at a rate of more than 30 percent in each of the last two years. Blue Shield's PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there physician network is the largest in the state with over 50,000 participating physicians. The 1997 acquisition of CareAmerica Health Plans added more than 250,000 members to the above totals. Blue Shield of California recently earned a one year accreditation by the National Committee for Quality Assurance National Committee for Quality Assurance Medical practice A private, not-for-profit organization which has become the leading accreditor of managed care plans; in site visits, NCQA reviewers evaluate a managed care plan in terms of quality management, physicians' (NCQA NCQA National Committee on Quality Assurance, see there ), under new, tougher NCQA standards for how health plans ensure quality assurance processes. The NCQA is an independent, not-for-profit organization that evaluates managed care organizations. CPIC Life Insurance Company was founded in 1954 to expand the range of insurance services offered by Blue Shield of California as a wholly-owned subsidiary. Since then, CPIC Life has developed a wide range of insurance products and services, including group and individual term life insurance, long term disability insurance, stop loss insurance, executive medical coverage, group vision care coverage and individual short term health products. For more information, visit CPIC Life's Website at www.cpiclife.com. A.M. Best, established in 1899, is America's oldest and most widely recognized insurance rating and information source. Within the secure rating category, ratings range from B+ and B++: Very Good, A and A-: Excellent, A++ and A+: Superior. For more information, visit A.M. Best's Website at www.ambest.com.
CONTACT: Lisa Citron, 415/229-5281
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