Erie Insurance Co. Assigned `AApi' Rating by S&P.NEW YORK--(BUSINESS WIRE)--Standard & Poor's CreditWire 8/4/98 - 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-`Api' insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. financial strength rating to Erie Erie, indigenous people of North America Erie (ĭr`ē), indigenous people of North America of the Iroquoian branch of the Hokan-Siouan linguistic stock (see Native American languages). Insurance Co. The company is licensed in 10 states. Erie Insurance's major line of business is private passenger auto liability, and it is a member of Erie Insurance Group Erie Insurance Group, (NASDAQ: ERIE) is a multi-line insurance company, offering auto, home, commercial and life insurance through a network of independent insurance agents. , a large insurance group. The company commenced operations in 1973. The company meets Standard & Poor's rating criteria for pool members, and therefore it is assigned the double-`Api' rating of qualifying members of the Erie Insurance Exchange Pool. 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 published financial information and additional information in the public domain. The ratings do not reflect in-depth meetings with an insurer's management nor do they incorporate material nonpublic information Nonpublic information Information about a company that is not known by the general public, which will have a definite impact on the stock price when released. See: Insider trading. , 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 an insurer's financial security occurs. The pi rating process covers U.S insurers to which Standard & Poor's previously assigned quantitative (`q') ratings, and may include information beyond that used to derive the previous quantitative-only ratings. Pi ratings are not modified with 'plus' or 'minus' designations, nor are they subject to potential CreditWatch listings, Standard & Poor's said. -- CreditWire
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