Why a Best's Financial Strength Rating is Important
Insurance agents, brokers, financial advisors, banks and other insurance professionals utilize Best's Financial Strength Ratings to help support their insurance carrier selection and investment decisions.
In recent years, ratings have also become increasingly important in helping consumers themselves make decisions on which insurers to buy coverage from, whether it is to protect their lifestyle or their future financial well being.
Best's Financial Strength Ratings provide an independent third-party evaluation to help determine the ability of an insurer to fulfill its financial obligations with regard to life, homeowners and other insurance products to you -- the policyholder. Our rating process subjects all insurers to the same rigorous criteria, providing a valuable benchmark for comparing insurers.
Not all of the insurers you find on our site are assigned a Best's Financial Strength Rating. For those insurers that participate in our interactive rating process, the following scale outlines the ratings and descriptions assigned to them. View our online Guide to Financial Strength Ratings for complete definitions.
Those companies that A.M. Best reports on, but have not been assigned a Best's Financial Strength Rating, are designated as NR (Not Rated).
Finally, there will also be some insurers for whom A.M. Best has some basic information, but have not been assigned either a Financial Strength Rating or a Not Rated Category. For a complete description of these and other Best's Ratings, please visit our Best's Rating Center.
A.M. Best Co.was founded in 1899 with the purpose of performing "a constructive and objective role in the insurance industry toward the prevention and detection of insurer insolvency." This mission led to the development of Best's Ratings, which are now recognized worldwide as the benchmark for assessing insurers' financial strength. In 1906, A.M. Best produced its first alphabetical ratings.