You Need A Dependable Carrier!
The financial strength rating of the carrier is a very important consideration in the selection of your malpractice carrier. For financial strength of an insurance company A.M. Best Company is considered by most to be the “gold standard. A.M. Best Company is a global credit rating agency serving the insurance industry. It is a source for an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. Moody’s and Standard & Poor’s are also rating agencies equally respected in the market, although they issue ratings for a broader range of industries and do not focus solely on the insurance industry.
If your insurance carrier is not financially secure, it is the policy holder who is at risk of taking a financial blow on account of a claim that is not covered due to a carrier not being able to meet its obligations.
Kaestner & Berry reviews the A.M. Best ratings of all of the Lawyer Professional Liability insurers in the region. Call us if you have any questions about the financial strength of your malpractice insurance provider.