In the past, State Insurance Departments prescribed standardized policy forms for all insurance companies to use. These standardized forms limited a consumer’s ability to purchase a policy that met their own individual needs. The states have since allowed insurance companies to use their own policy forms. This means that coverages, enhancements, limitations, conditions and exclusions will vary by each insurance company. For this reason, it is more important than ever to review your policies/proposals to be sure they will meet your expectations in the event of a claim.

AM Best Financial Rating

• Placement of your insurance coverage with financially sound insurance companies is of utmost importance. There are many tools available for measuring the financial stability of an insurance company. One of the tools that we access is AM Best Credit Ratings.
• AM Best is a global full-service credit rating agency. Their ratings are based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile or where appropriate, the specific nature and details a debt security.

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