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. It has no parent, subsidiary or affiliate relationships, and is rated on a stand-alone basis.
Was this article valuable?
Here are more articles you may enjoy.
Florida Court Says 2020 Law Gives ‘Very Broad’ Liability Immunity to Rideshare Firms 
First Brands Hit by $286 Million Claim for Alleged Tariffs Fraud 
Comulate Loses Appeal for Injunction Against Applied Systems 
Lawyer Who Filed Viral Suit Against JPMorgan Seeks to Exit Case From This Issue
