Guide to Best's financial strength rating.

GUIDE TO BEST'S FINANCIAL STRENGTH RATINGS

A Best's Rating is an independent opinion, based on a comprehensive
quantitative and qualitative evaluation, of a company's balance sheet
strength, operating performance  and business profile. Best's
Financial Strength Ratings are not a warranty of a company's financial
strength and ability to meet its ongoing obligations to policyholders.

Financial Strength Ratings

A Best's Financial Strength Rating (FSR) is an opinion as to an
insurer's financial strength and ability to meet its ongoing
obligations to policyholders.)

Rating       Descriptor    Definition

Secure

A++, A+      Superior      Assigned to companies that have, in our
                           opinion, a superior ability to meet their
                           ongoing obligations to policyholders.

A, A-        Excellent     Assigned to companies that have, in our
                           opinion, an excellent ability to meet their
                           ongoing obligations to policyholders.

B++, B+      Very Good     Assigned to companies that have, in our
                           opinion, a good ability to meet their
                           ongoing obligations to policyholders.

Vulnerable

B, B-        Fair          Assigned to companies that have, in our
                           opinion, a fair ability to meet their
                           ongoing obligations to policyholders, but
                           are financially vulnerable to adverse
                           changes in underwriting and economic
                           conditions.

C++, C+      Marginal      Assigned to companies that have, in our
                           opinion, a marginal ability to meet their
                           ongoing obligations to policyholders and
                           are financially vulnerable to adverse
                           changes in underwriting and economic
                           conditions.

C, C-        Weak          Assigned to companies that have, in our
                           opinion, a weak ability to meet their
                           ongoing obligations to policyholders and
                           are financially very vulnerable to adverse
                           changes in underwriting and economic
                           conditions.

D            Poor          Assigned to companies that have, in our
                           opinion, a poor ability to meet their
                           ongoing obligations to policyholders and
                           are financially extremely vulnerable to
                           adverse changes in underwriting and
                           economic conditions.

E            Under         Assigned to companies (and possibly their
             Regulatory    subsidiaries/affiliates) that have been
             Supervision   placed by an insurance regulatory authority
                           under a significant form of supervision,
                           control or restraint whereby they are no
                           longer allowed to conduct normal ongoing
                           insurance operations. This would include
                           conservatorship or rehabilitation, but does
                           not include liquidation. It may also be
                           assigned to companies issued cease and
                           desist orders by regulators outside their
                           home state or country.

F            In            Assigned to companies that have been placed
             Liquidation   under an order of liquidation by a court of
                           law or whose owners have voluntarily agreed
                           to liquidate the company. Note: Companies
                           that voluntarily liquidate or dissolve
                           their charters are generally not insolvent.

S            Suspended     Assigned to companies that have experienced
                           sudden and significant events affecting
                           their balance sheet strength or operating
                           performance whereby the rating implications
                           cannot be evaluated due to a lack of timely
                           or adequate information.

Rating Modifiers and Affiliation Codes

A rating modifier can be assigned to indicate that a Best's Rating may
be subject to near-term change (under review), that a company did not
subscribe to Best's interactive rating process (public data) or that
the rating is assigned to a syndicate operating at Lloyd's.
Affiliation codes (g, p, and r) are added to Best's Ratings to
identify companies whose assigned ratings are based on group,
pooling or reinsurance affiliation with other insurers.

Modifier   Descriptor     Definition

Rating Modifiers

u          Under Review   A modifier that generally is event-driven
                          (positive, negative or developing) and is
                          assigned to a company whose Best's Rating
                          opinion is under review and may be subject
                          to change in the near-term, generally
                          defined as six months.

pd         Public Data    Assigned to insurers that do not subscribe
                          to Best's interactive rating process.
                          Best's "pd" Ratings reflect qualitative
                          and quantitative analyses using public
                          data and information.

s          Syndicate      Assigned to syndicates operating at
                          Lloyd's.

Affiliation Codes         g   Group   p   Pooled   r   Reinsured

Not Rated Categories (NR)

Assigned to companies reported on by A.M. Best, but not assigned
a Best's Rating. The five categories are:

NR-1: Insufficient Data.
NR-2: Insufficient Size and/or Operating Experience.
NR-3: Rating Procedure Inapplicable.
NR-4: Company Request.
NR-5: Not Formally Followed.

Rating Outlook

Best's Ratings (A++ to D) are assigned a Rating Outlook that indicates
the potential direction of a company's rating for an intermediate
period, generally defined as the next 12 to 36 months. Public Data
Ratings are not assigned an Outlook. Rating Outlooks, which appear
in the rating rationale section of the company's Best's Company
Report, are as follows:

Positive   Indicates a company's financial/market trends are
           favorable, relative to its current rating level and,
           if continued, the company has a good possibility of
           having its rating upgraded.

Negative   Indicates a company is experiencing unfavorable
           financial/market trends, relative to its current
           rating level and, if continued, the company has
           a good possibility of having its rating downgraded.

Stable     Indicates a company is experiencing stable financial/market
           trends and there is a low likelihood that its rating will
           change in the near term.

Best's Ratings are distributed via press release and/or the A.M. Best
Web site at www.ambest.com, and are published in the Rating Monitor
section of BestWeek[R]. Best's Ratings are proprietary and may not be
reproduced without permission. Copyright [c] 2006 by A.M. Best
Company, Inc.

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