The echoes of the year 2023, while evoking lessons from the past, underscore the significant importance of these insights.
The emergence of international insurers, some lacking credit ratings, has been a recurring theme over the years. However, those aligned with a risk rating have consistently provided a crucial indicator, furnishing us with the information and time necessary to respond in support of advisors, agencies, and, above all, our clients.
The emphasis here goes beyond being merely a financial thermometer; it involves a detailed analysis of the financial stability of insurers. It is about staying at the forefront to minimize potential financial discrepancies for the benefit of our clients.
In a landscape marked by uncertainty, exclusive collaboration with rated companies stands as a strategic choice, an unwavering commitment to safeguarding the interests of all stakeholders.
Continuous monitoring is one of the main benefits of a Rating: in this case, it provided us with a reaction period of 7 months and 23 days for an insurer with a B+ rating.
MANIFEST LOSSES
CLIENTS | ADVISORS | AGENCIES |
Loss of Insurance Coverage | Erosion of Credibility | Erosion of Credibility |
Forfeiture of Paid Premiums | Loss of your portfolio and the fruits of a lifetime of labor. | Loss or reduction in Advisor structure |
Policy Seniority Loss | Necessity to manage negotiations with other insurers to facilitate a transfer - if at all possible | Loss of your portfolio and the fruits of a lifetime of labor. |
If you have developed a medical condition or received a diagnosis, it is probable that obtaining insurance in the future may come with exclusions - if even available | Loss of Renewal Revenues | Loss of Renewal Revenues |
Credit Rating Framework
