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Certificates of Insurance - A.M. Best’s Ratings PDF Print E-mail
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Certificates of Insurance
A.M. Best’s Ratings
Financial Performance Ratings (FPR)
General Liability
Occurrence vs. Claim Made
Workers Compensation
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A.M. Best’s Ratings

A.M. Best assigns two types of rating opinions. Best’s ratings (letter scale) and best’s FPR (numerical scale). Both ratings involve a quantitative and qualitative evaluation of a company’s financial strength, operating performance and market profile.

Warning about RRG’s or Risk Retention Groups.

Over the last two to three years there have been several RRG’S set up to capitalize on the lack of contractors insurance companies willing to insure contractors. Yes the rates are good, but the coverage stinks. Read your policy carefully. If you do not understand it, send it to me, even if you are not a customer of mine. Most of these policies take more coverage away under the exclusion’s than you are buying.

None of them are rated with AM Best, because they have not been in business long enough. Many have very shaky financial backing. You want the insurance company to still be around when and if you have a claim.

 
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