The bill, passed by voice vote, seeks to increase competitiveness in credit rating by establishing a registration process for other companies that want to gain recognition as nationally recognized statistical rating organizations
to the NAIC's list of Nationally Recognized Statistical Rating Organizations
at the group's Spring National Meeting.
There are various rating organizations
to confirm the financial wherewithal of commercial insurance companies.
Thomas declined to talk specifically about individual state disagreements, but said, in general regulators were taking their positions based on the work of industry rating organizations
Insurance Services Office and the National Council on Compensation Insurance.
Best and other national rating organizations
, the inherent uncertainty of loss and loss expense estimates in both the core business and discontinued non-core business (including the contingent liability related to Highlands Insurance Company), and the cyclical nature of the property and casualty industry, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the company.
Currently, three rating agencies-Moody's, Standard & Poor's and Fitch-are the only nationally recognized statistical rating organizations
acquisitions and divestitures of legal entities and blocks of business, financial markets, competitors and competing products and services, LNC's ability to operate its businesses in a relatively normal manner, legislation, the price of LNC's stock, accounting principles generally accepted in the United States and the United Kingdom, regulations, and debt and claims paying ratings issued by nationally recognized statistical rating organizations
Standard & Poor's--In a letter to the Securities and Exchange Commission, Standard & Poor's Ratings Services today expressed its support for a more open and transparent process to designate Nationally Recognized Statistical Rating Organizations
Each of these independent rating organizations
assigned its rating based on a variety of factors, including Protective's operating performance, asset quality, financial flexibility and capitalization.
Examples of such uncertainties and contingencies include, among other important factors, those affecting the insurance industry in general, such as the economic and interest rate environment, legislative and regulatory developments and market pricing and competitive trends, and those relating specifically to the company and its businesses, such as the level of its insurance premiums and fee income, the claims experience of its insurance products, the performance of its investment portfolio, acquisitions of companies or blocks of business, and the ratings by major rating organizations
of its insurance subsidiaries.
The fund seeks to achieve its investment objective by purchasing money market instruments with first-tier ratings as defined by nationally recognized rating organizations
, while maintaining disciplined and effective management strategies.
Throughout the 1990s - the most tumultuous decade in the 86-year history of California's workers' compensation system - independent rating organizations
have validated State Fund's financial strength.