S&P’s lowered its counterparty credit and financial strength ratings on Harbor Insurance Co. (Harbor) to “Bpi” from “Bbpi.” According to an S&P’s analyst, “Harbor’s decline in capitalization and increasing leverage in 2002, weaker liquidity, and limited operating scope,” influenced the ratings action.
Based in Tulsa, Okla., Harbor writes mainly private passenger auto in Oklahoma. Its products are distributed primarily through independent agents. Harbor, which began business in 1993, is licensed in only Oklahoma.
Was this article valuable?
Here are more articles you may enjoy.
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles 
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments From This Issue
