A.M. Best Co. has placed the “B+” (Very Good) rating of Atlantic Preferred Insurance Company (Tampa, Fla.), under review with negative implications. This action reflects the decline in surplus recorded in the third quarter of 2004 due to significant catastrophe activity and the deteriorated risk-adjusted capitalization of its affiliate, Southern Family Insurance Company. Accordingly, A.M. Best believes the overall financial flexibility of the organization has been negatively impacted.
Was this article valuable?
Here are more articles you may enjoy.
Farmers to Pay $2.8M to Settle TPCA Class Action Lawsuit 
Florida Supreme Court Ruling Could Mean New Pressure to Settle High-Dollar Lawsuits 
Agent-Carrier Relationships Improving, Survey Shows 
New Jersey Busts Alleged $8 Million Auto Theft Operation Involving 63 People From This Issue
