insurance rating News

New York DFS Opens Inquiry Into Price Optimization

The New York Department of Financial Services (DFS) on March 18 sent out letters to hundreds of property/casualty insurers operating in the state, seeking information concerning price optimization. New York joins a growing number of states around the country that …

ITC Expands Comparative Rating System, TurboRater, to Nevada

Insurance Technologies Corporation (ITC), a provider of marketing, rating and management software and services, has expanded its comparative rating system TurboRater with its release of automated insurance rating information for personal lines insurance in Nevada. The insurance carriers available today …

A.M. Best Withdraws Ratings of Community Mutual Insurance Co. in N.Y.

Insurance ratings agency A.M. Best Co. said it has downgraded the financial strength rating to C (Weak) from C+ (Marginal) and the issuer credit rating to “ccc” from “b-” of Community Mutual Insurance Company in Castleton, N.Y. Concurrently, A.M. Best …