The american way is to do just what you said, blame someone else. The fact that you are willing to blame AM Best for not putting out proper ratings means you learned nothing from the last 12 months. The people that need to be accountable are not the rating agencies, but the carriers slashing the business. As carriers we need to price business according to the risk, and not to the rating we are given by an Agency.
Take some accountability for your actions as an underwriter – if i’m faced with 10% rate declines right now, I’m walking away. I’m not going to sit here and drive the market down just cause I have an A Rating.
Besides, Best cannot slam a carrier who’s not losing money, and most of the carriers in the third quarter and through 9 months this year have combined ratio’s at less than 100%.
When is AM Best going to start taking action on all of those carriers that they’ve placed “negative implications” on? Are they going to just sit and watch, or are they going to open some eyes and actually downgrade those carriers that are deserving?
There’s plenty of them too. With so many carriers buying business by slashing prices, best really needs to get on top of this. I’m sure they’ll do nothing as usual and likely won’t be held accountable either. Thats the american way these days :(
look at the combined ratios this earnings period. that is with hardly any cat storms/hurricanes/etc. once that happens(which it was rare for it not to), I think we’ll start to see the distressed carriers pull in the reins P/C-wise, but when you’re bordering on 100, why jump the gun? especially when bailouts galore happen all the time…
Roy –
The american way is to do just what you said, blame someone else. The fact that you are willing to blame AM Best for not putting out proper ratings means you learned nothing from the last 12 months. The people that need to be accountable are not the rating agencies, but the carriers slashing the business. As carriers we need to price business according to the risk, and not to the rating we are given by an Agency.
Take some accountability for your actions as an underwriter – if i’m faced with 10% rate declines right now, I’m walking away. I’m not going to sit here and drive the market down just cause I have an A Rating.
Besides, Best cannot slam a carrier who’s not losing money, and most of the carriers in the third quarter and through 9 months this year have combined ratio’s at less than 100%.
When is AM Best going to start taking action on all of those carriers that they’ve placed “negative implications” on? Are they going to just sit and watch, or are they going to open some eyes and actually downgrade those carriers that are deserving?
There’s plenty of them too. With so many carriers buying business by slashing prices, best really needs to get on top of this. I’m sure they’ll do nothing as usual and likely won’t be held accountable either. Thats the american way these days :(
Haven’t you heard. Everybody’s worthy of an A rating.
look at the combined ratios this earnings period. that is with hardly any cat storms/hurricanes/etc. once that happens(which it was rare for it not to), I think we’ll start to see the distressed carriers pull in the reins P/C-wise, but when you’re bordering on 100, why jump the gun? especially when bailouts galore happen all the time…