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TMCNet:  A.M. Best Requests Comments on Draft Criteria: Risk Management and the Rating Process

[February 26, 2013]

A.M. Best Requests Comments on Draft Criteria: Risk Management and the Rating Process

OLDWICK, N.J. --(Business Wire)--

A.M. Best Co. is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria report, "Risk Management and the Rating Process" (updates version dated January 25, 2008).

The draft is updated to include additional events that have contributed to the increased level of risk and uncertainty in the insurance industry, as well as a more detailed explanation of how an insurer's risk profile and risk management capabilities impact the rating process.

The impact of risk management on an insurer's rating(s) is based upon the insurer's risk profile and the insurer's risk management capability relative to that risk profle. Additionally, insurers are expected to demonstrate that their risk management processes are appropriate for their risk profiles.

These updates are part of A.M. Best's continual review of its rating methodology and are not considered material or expected to affect the vast majority of ratings.

Visit www.ambest.com/ratings/methodology to download a PDF copy of each report.

Written comments should be submitted by email to rating.methodology@ambest.com no later than March 26, 2013.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.


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