Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those policies. Last week, State Farm cited its responsibility to …
Editor’s note: This article was updated Oct. 16 to reflect additional information from Tower Hill Group and AM Best. The downgrade of one of Tower Hill’s insurance companies by AM Best financial rating firm, announced the day that Hurricane Ian …
AM Best has downgraded the financial strength rating to B+ from B++ and the long-term issuer credit rating to “bbb-” from “bbb” for Kingstone Insurance Company (KICO) of Kingston, New York. Concurrently, AM Best has downgraded the long-term ICR to …
A.M. Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” from “a” of Kansas Medical Mutual Insurance Co. (KaMMCO) in Topeka, Kan. The outlook of …
A.M. Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-” from “a+” for American Capital Assurance Corp (ACAC) of St. Petersburg, Fla. These rating actions follow the recent transaction …
A.M. Besthas downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit ratings (ICR) to “bbb+” from “a-” ofNational Fire and Indemnity Exchange(NFIE) in St. Louis, Mo. The outlook for the FSR has been …
A.M. Best has downgraded the financial strength rating to A (Excellent) from A+ (Superior) and the issuer credit ratings to “a+” from “aa-” of the members of Walnut Creek, Calif.-based CSAA Insurance Group. CSAA is an American Automobile Association Inc. …
A.M. Besthas downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Financial American Property and Casualty Insurance Company (FAMPAC) , Kerrville, Texas. The outlook for the …
A.M. Best reported it has both downgraded and withdrawn the ratings for National Unity Insurance Company (National Unity) in San Antonio, Texas. National Unity specializes domestic non-standard auto business, as well as in insuring Mexican cars and commercial trucks traveling …
A.M. Best has downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to “bbb-” from “bbb” of San Antonio-based National Unity Insurance Co. (National Unity). The outlook for both ratings is negative. National …
