A.M. Best to expand coverage of Alternative Risk-Transfer entities.OLDWICK, N.J.--(BUSINESS WIRE)--March 26, 1997--A.M. Best Co. in 1997 will expand its rating coverage of alternative risk-transfer (ART) entities, such as risk-retention groups, captives, pools, and self-insurance self-insurance, n the setting aside of funds by an individual or organization to meet anticipated dental care expenses or dental care claims, and accumulation of a fund to absorb fluctuations in the amount of expenses and claims. groups. The insurance rating and information company has rated some of these nontraditional Adj. 1. nontraditional - not conforming to or in accord with tradition; "nontraditional designs"; "nontraditional practices" untraditional traditional - consisting of or derived from tradition; "traditional history"; "traditional morality" mechanisms for more than two decades. In 1996, however, the company launched a dedicated team of analysts specifically to research this sector and rate ARTs. Rating coverage to date has been limited to companies that file annual statements with the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. . Beginning in 1997, A.M. Best plans to expand its coverage to include entities that file other forms of annual reports. A.M. Best believes the ART market is becoming more mainstream as "traditional" companies--such as Liberty Mutual Insurance Cos., American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. and United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Fidelity and Guaranty--have expanded their capabilities in this area. The rating agency believes ARTs will gradually change the risk-transfer and risk- management practices of the middle market, in much the same way as they changed the Fortune 1,000 commercial sector. In a Special Report that appears in the March 24, 1997 property/casualty edition of BestWeek, A.M. Best assistant vice president John Andre An·dré , John 1751-1780. British army officer hanged as a spy in the American Revolution for conspiring with Benedict Arnold. and financial analyst Rich Sudowsky describe the trends unfolding in the ART market and provide A.M. Best's perspective on the industry. BestWeek is a weekly newsletter published by A.M. Best. Members of the media can obtain copies of this Special Report in its entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. by calling Jeffrey Dunsavage at (908) 439-2200, ext. 5618. A.M. Best Co., established in 1899, is America's oldest and most widely recognized insurance rating and information source. CONTACT: Jeffrey Dunsavage 908/439-2200, ext. 5618 http://www.ambest.com |
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