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Reso 2009-1390
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Reso 2009-1390
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Last modified
11/6/2015 1:33:30 PM
Creation date
2/26/2009 10:37:28 AM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2009-1390
Date (mm/dd/yyyy)
02/19/2009
Description
Insurance Providers for 2009 (AvMed, Lincoln Financial, EyeMed
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<br />SECTION VI <br /> <br />Best's Rating: <br />Rating based on a company's financial strength and marketing profile. <br /> <br />Best's Rating Scale: <br />The Best's rating scale is comprised of 16 individual ratings grouped <br />into 10 categories. consisting of three Secure categories of"Superior", "Excellent", and "Very Good" and seven <br />"Vulnerable categories of "Fair", "Marginal", "Weak". "Poor", "Under Regulatory Supervision", "In Liquidation", and <br />"Rating Suspended". <br /> <br />Secure Best's Ratings <br /> <br />A++ and A+ (Superior) <br />A and A- (Excellent) <br />B++ and B+ (Very Good) <br /> <br />Vulnerable Best's Ratings <br /> <br />Band B- (Fair) <br />C++ and C+ (Marginal) <br />C and C- (Weak) <br />D (Poor) <br />E (Under Regulatory Supervision) <br />F (In Liquidation) <br />S (Rating Suspended) <br /> <br />Not Rated Companies <br /> <br />NR-I = Insufficient Data <br />NR-2 = Insufficient Size and/or Operating Experience <br />NR-3 = Rating procedure Inapplicable <br />NR-4 = Company Request <br />NR-5 = Not Formally Followed <br /> <br />Financial Size Categories: <br />Reflects the company's size based on its capital. surplus and conditional reserve funds in millions of US dollars. using <br />the scale below. <br /> <br />FSC I less than 1 <br />FSC II I to 2 <br />FSC III 2 to 5 <br />FSCIV 5 to 10 <br />FSC V 10 to 25 <br />FSCVI 25 to 50 <br />FSC VII 50 to 100 <br />FSC VIII 100 to 250 <br />FSCIX 250 to 500 <br />FSCX 500 to 750 <br />FSCXI 750 to 1000 <br />FSC XII 1000 to 1250 <br />FSC XIII 1250 to 1500 <br />FSC XIV 1500 to 2000 <br />FSC XV greater than 2000 <br /> <br />10 <br />
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