CSE Safeguard Insurance Assigned 'BBpi' Rtg by S&P.NEW YORK--(BUSINESS WIRE)--Sept. 23, 1998--Standard & Poor's CreditWire 9/23/98 - 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 double-'Bpi' insurer financial strength rating to CSE (Certified Systems Engineer) See Microsoft certification. Safeguard Insurance Co. CSE Safeguard Insurance is licensed in nine states. Its major line of business is homeowners 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 is a member of Civil Service Employees Group, a midsized insurance group with surplus of between $50 million-$100 million. The company commenced operations in 1985, and the principle state in which it operates is California. As a consequence of an interaffiliate pooling arrangement with Civil Service Employees Insurance Co. under which CSE Safeguard Insurance Co. comprises 33.33% of the pool, the company is assigned a rating of double-'Bpi'. `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 |
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