Sports Insurance Blog » AM Best http://www.sadlersports.com/blog Sports Insurance Risk Management Advice and Commentary on Current Topics of Interest Tue, 31 Jan 2012 19:13:26 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Financial Strength Of Sports General Liability Policy http://www.sadlersports.com/blog/index.php/2009/04/07/financial-strength-of-sports-general-liability-policy/ http://www.sadlersports.com/blog/index.php/2009/04/07/financial-strength-of-sports-general-liability-policy/#comments Tue, 07 Apr 2009 13:00:11 +0000 admin http://www.sadlersports.com/blog/?p=557 The financial strength of a General Liability carrier for a sports organization is even more critical than for its Accident carrier.  The reason is because General Liability limits are normally higher and the payments made can occur many years after the injury.
 
The standard in the insurance industry for measuring financial strength is A.M. Best Company.  Most risk managers advise that the minimum acceptable rating is A- with a financial category size of VII out of XV.  To put this in context, the largest and strongest carriers have A.M. Best ratings of A+ XV.
 
A strong rating by A.M. Best is not a perfect predictor of financial strength, but it is the best gauge that we have available without pouring over data from multiple rating agencies.
 
 Source:  John Sadler
 
Copyright 2004-2009, Sadler and Company, Inc.  All Rights Reserved
]]> http://www.sadlersports.com/blog/index.php/2009/04/07/financial-strength-of-sports-general-liability-policy/feed/ 0 Financial Strength of Accident Insurance Carrier http://www.sadlersports.com/blog/index.php/2009/03/04/financial-strength-of-accident-insurance-carrier/ http://www.sadlersports.com/blog/index.php/2009/03/04/financial-strength-of-accident-insurance-carrier/#comments Wed, 04 Mar 2009 13:00:53 +0000 admin http://www.sadlersports.com/blog/?p=413 An Accident insurance carrier for sports and recreation organizations should have a rating in A.M. Best’s of at least A-, VII.
 
It is not acceptable for an Accident insurance carrier to have a rating of B+ or lower according to most risk managers.  A financially weak insurance carrier may not be in existence when it comes time to pay your claims.
 
 
Source:  John Sadler
 
Copyright 2004-2009 Sadler & Company, Inc.  All Rights Reserved
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