Best Affirms Ratings of State Farm Group
National News • April 22, 2004
A.M. Best Co. announced that it has affirmed the financial strength ratings of the property/casualty and life affiliates of the State Farm Group, and has revised the negative rating outlooks ...
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Subject: To: Rich Pyorre
Posted On: April 23, 2004, 12:05 am CDT
Posted By: Matt
Comment:
Rich,
You can get an award for this one, but first, tell me what point your comments drive at. Is it just symantics or some other unmentioned issue that might make this come together for us. Firstly, AM Best is cought up using "Words" that could be better chosen, albet. State Farm doesn't franchise in the normal model whatsoever. AM Best at best is trying to explain that the State Farm Group is the a well organized group of affiliated compnaies (Some would err and call these the State Farm Franchise). But hopefully, the meat of AM Best's product has more to due with gagues and meters (financial reporting and analysis) that tell financial service orgs where they are on the big score board in this game we call the "Business World" A point aside, why are you interested in what AM Best has to say, they are the "Pushovers" when it comes to "Scoring" proformance.... Its like the mothers old addage, Johnny, you get "Credit" just for trying..... Even crappy companies get rated "UP" when they are standing on the brink of receviorship. Check out Weiss Ratings for "Real" information. Weiss Ratings stratifies the players in a more understandable matrix. Let's face it AM Best gives 80 % of the companies a "B" or better. This is very misleading to the public. Weiss Breaks them down further and harder.
But back to State Farm. Most Insurers and insurance types have problems with State Farm. It usually runs from flat out envy to a form of Jealously. It is hard to compete with such a "Complete" success story. The success of the State Farm System has many chasing there thunder.
"Damn, it hurts (the competition) to be soooo good"
Rich, Please reply,
Matt
Subject: To: Rich Pyorre
You can get an award for this one, but first, tell me what point your comments drive at. Is it just symantics or some other unmentioned issue that might make this come together for us. Firstly, AM Best is cought up using "Words" that could be better chosen, albet. State Farm doesn't franchise in the normal model whatsoever. AM Best at best is trying to explain that the State Farm Group is the a well organized group of affiliated compnaies (Some would err and call these the State Farm Franchise). But hopefully, the meat of AM Best's product has more to due with gagues and meters (financial reporting and analysis) that tell financial service orgs where they are on the big score board in this game we call the "Business World" A point aside, why are you interested in what AM Best has to say, they are the "Pushovers" when it comes to "Scoring" proformance.... Its like the mothers old addage, Johnny, you get "Credit" just for trying..... Even crappy companies get rated "UP" when they are standing on the brink of receviorship. Check out Weiss Ratings for "Real" information. Weiss Ratings stratifies the players in a more understandable matrix. Let's face it AM Best gives 80 % of the companies a "B" or better. This is very misleading to the public. Weiss Breaks them down further and harder.
But back to State Farm. Most Insurers and insurance types have problems with State Farm. It usually runs from flat out envy to a form of Jealously. It is hard to compete with such a "Complete" success story. The success of the State Farm System has many chasing there thunder.
"Damn, it hurts (the competition) to be soooo good"
Rich, Please reply,
Matt