What is the Definition of Rating Agencies?
There are several major credit agencies that determine insurers’ financial strength and viability to meet claims obligations. They include A.M. Best Co.; Fitch, Inc.; Moody’s Investors Services; Standard & Poor’s Corp.; and Weiss Ratings, Inc. Factors considered include company earnings, capital adequacy, operating leverage, liquidity, investment performance, reinsurance programs, and management ability, integrity and experience.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Rating Agencies?
You can find random definition and meaning of insurance terms below:
What is the meaning of Declarations page
A page in your policy – usually the front page – with basic information that identifies the policyholder, the property or vehicles covered, the coverages and the premium amounts. In informal conversation, you may hear it referred to as the “dec[k]” page.
What is the meaning of Deductible
The amount a policyholder agrees to pay before the insurance company covers a loss. In addition to the standard deductible, there can be different deductibles for different types of losses such as wind, hail, hurricane, earthquake, all-peril, collision and comprehensive.
What is the meaning of Depreciation
A decrease in the value of property due to wear, age or other cause. Compare actual cash value.
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