A.M. Best Upgrades Ratings of Comp Options Insurance Company.OLDWICK, N.J. -- A.M. Best Co. has upgraded 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. ) to A (Excellent) from A- (Excellent) and the issuer credit rating (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. ) to "a" from "a-" of the Comp Options Insurance Company (Comp Options) (Jacksonville, FL). The outlook for all ratings is stable. The upgrades reflect the company's strong capitalization, improved underwriting and operating performance, consistently favorable loss reserve development trends and the explicit support provided by its parent, Blue Cross and Blue Shield of Florida Blue Cross and Blue Shield of Florida is Florida's largest health insurance provider and plan administrator. The company is a member of Blue Cross and Blue Shield Association. The nonprofit, Jacksonville-based Blue Cross and its subsidiaries serve more than 8. (BCBSF BCBSF Blue Cross/Blue Shield of Florida ), as evidenced by capital contributions and 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. protection. Partially offsetting these positive rating factors is the company's limited risk base as a single state workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. writer, which exposes it to competitive pressures and adverse regulatory and judicial changes. The rating outlook reflects Comp Options' niche market knowledge and expectations of continued solid underwriting and operating performance given management's growth plans and increased revenues associated with the company's non-risk business. 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 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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