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A.M. Best Downgrades State Farm Florida; Outlook Negative

Southeast News • June 18, 2009
A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to "bb" from "bbb-" of State Farm Florida Insurance Co. The rating agency's ...

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Subject: Downgrade

Posted On: June 18, 2009, 3:21 pm CDT
Posted By: "B" rated Underwriter
Comment:
Perhaps AM Best lowering the rating to a B will help SF. As a former HO underwriter employed by an AM Best "B" rated carrier the mortgagees were forcing all of their customers to cancel our policy and rewrite with a B+ or better. This same type of action by banks should reduce SF's Florida exposure faster than a pullout. Then again are there B+ or better rated companies willing to take on more Florida risk?
Subject Posted By Posted On
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Nov 28, 2009, 1:35 pm
RE: Downgrade concerned
Jun 19, 2009, 1:30 pm
RE: RE: RE: Downgrade - WCFL didn't read the fine print Arthro
Jun 18, 2009, 3:45 pm
Downgrade "B" rated Underwriter
Jun 18, 2009, 3:21 pm
RE: RE: Downgrade - WCFL didn't read the fine print WCFL Agent
Jun 18, 2009, 2:43 pm
RE: RE: Downgrade WCFL Agent
Jun 18, 2009, 2:20 pm
RE: Downgrade - WCFL didn't read the fine print Arthro
Jun 18, 2009, 2:19 pm
RE: Downgrade Outside Observer
Jun 18, 2009, 2:07 pm
RE: Downgrade John
Jun 18, 2009, 2:06 pm
Downgrade WCFL Agent
Jun 18, 2009, 1:47 pm
Downgrade John
Jun 18, 2009, 11:39 am
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