American Employers Insurance Rated 'Api' by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 9/22/98-- Standard & Poor's today assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. its single-'Api' insurer financial strength rating to American Employers Insurance Co. American Employers is licensed in all states, and commenced operations in 1923. The company's major line of business is commercial multiple peril The designated contingency, risk, or hazard against which an insured seeks to protect himself or herself when purchasing a policy of insurance. Among the various types of perils for which insurance coverage is available are fire, theft, illness, and death. PERIL. , and it participates in an interaffiliate pool with five other group members. The company is a member of the CGU CGU Conditions Générales d'Utilisation (French) CGU Claremont Graduate University (Claremont, CA) CGU Chang Gung University (Taiwan) CGU Canadian Geophysical Union Insurance Group (formed by the June 1998 merger between Commercial Union plc and General Accident Fire & Life Assurance Corp. plc), a large U.K.-based insurance group with a presence in over 50 countries. The following factor was incorporated in the rating of single-'Api' -- the company meets Standard & Poor's rating criteria for pool members, and therefore it is assigned the single-'Api' rating of qualifying members of the Commercial Union pool. Pi' ratings, denoted with a pi subscript (1) In word processing and scientific notation, a digit or symbol that appears below the line; for example, H2O, the symbol for water. Contrast with superscript. (2) In programming, a method for referencing data in a table. , are insurer financial strength ratings based on an analysis of an insurer's published financial information and additional information in the public domain. They do not reflect in-depth meetings with an insurer's management and are therefore based on less comprehensive information than ratings without a 'pi' subscript. Pi ratings are reviewed annually based on a new year's financial statements, but may be reviewed on an interim basis if a major event that may affect the insurer's financial security occurs. Ratings with a pi subscript are not subject to potential CreditWatch listings. Ratings with a pi subscript generally are not modified with 'plus' or 'minus' designations. However, such designations may be assigned when the insurer's financial strength rating is constrained con·strain tr.v. con·strained, con·strain·ing, con·strains 1. To compel by physical, moral, or circumstantial force; oblige: felt constrained to object. See Synonyms at force. 2. by sovereign risk Sovereign Risk The risk that a foreign central bank will alter its foreign-exchange regulations thereby significantly reducing or completely nulling the value of foreign-exchange contracts. or the credit quality of a parent company or affiliated group, Standard & Poor's said. -- CreditWire |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion