< Previous58 BEST’S REVIEW • OCTOBER 2022 State Rate Filings Georgia Commissioner Blasts Allstate’s 25% Auto Rate Hike Allstate, the fourth-largest writer of all private passenger auto insurance in Georgia in 2021, had already filed for an increase earlier this year, bringing the total increase to 40%. G eorgia Insurance and Safety Fire Commissioner John King has ripped into Allstate Corp.’s 25% automobile insurance rate hike, saying it will burden consumers already dealing with inflationary increases on everyday goods. King lamented he has no authority under Georgia law to intervene in the filing because under Georgia law, the commissioner only has the authority to approve Best’s Rankings Top 25 Georgia Private Passenger Auto Filings by Rate Impact Based on a disposition date of Sept. 1, 2021, to Sept. 1, 2022. Company NameOverall % Rate ImpactDisposition DateEffective DateFiling Status Horace Mann Property & Casualty Ins Co17.3008/10/202211/01/2022Approved COUNTRY Casualty Insurance Company14.9902/04/202202/18/2022Approved Chubb National Insurance Company14.8007/11/202208/29/2022Approved Allstate Property and Casualty Ins Co14.5008/04/202203/07/2022Approved MGA Insurance Company, Inc.13.6001/10/202203/19/2022Approved Horace Mann Property & Casualty Ins Co12.5008/10/202211/01/2022Approved Unique Insurance Company11.5001/06/202201/08/2022Approved Mendota Insurance Company11.2010/20/202110/01/2021Approved Nationwide Mutual Fire Insurance Company11.0011/10/202101/01/2022Approved Twin City Fire Insurance Company10.4002/17/202202/19/2022Approved Safe Auto Insurance Company10.3003/17/202203/19/2022Approved Safeco Insurance Company of Indiana10.1007/14/202208/20/2022Approved GEICO Casualty Company10.0007/13/202207/21/2022Approved Mercury Indemnity Company of Georgia9.9907/20/202209/28/2022Approved Southern General Ins Co9.9807/01/202207/08/2022Approved Alfa Insurance Corporation9.9406/08/202208/09/2022Approved MGA Insurance Company, Inc.9.9008/24/202209/23/2022Approved Infinity Select Insurance Company9.8802/22/202203/22/2022Approved Mid-Century Insurance Company9.8505/20/202208/18/2022Approved InsureMax Insurance Company9.8307/12/202207/29/2022Approved Safeco Insurance Company of Illinois9.8007/14/202208/20/2022Approved Direct General Insurance Company9.7001/13/202211/19/2021Approved Alfa General Insurance Corporation9.6106/08/202208/09/2022Approved Coast National Insurance Company9.6008/24/202209/29/2022Approved Trustgard Insurance Company9.5008/08/202209/06/2022Approved Note: The chart includes individual insurance companies, not insurance groups. Individual company rate impacts may not add up to the group impacts because there may have been additional increases that were not in the top 25. The disposition date refers to the date a department of insurance considers each submission to be closed, regardless of the final status. Source: 59 BEST’S REVIEW • OCTOBER 2022 or disapprove minimum limits policy filings. All other filings can go into effect immediately under file-and-use provisions. “I am angry and disappointed that Allstate has chosen to exploit a loophole in state law to implement such a substantial increase in costs on hardworking Georgians when families are already struggling with historic inflation everywhere from the gas pump to the grocery store,” King said in a consumer alert. He also noted Allstate, the fourth-largest writer of all private passenger auto insurance in Georgia in 2021, had already filed for an increase earlier this year, bringing the total increase to 40%. The latest rate increase went into effect for new Allstate customers on Sept. 12, while current customers will see the increase on their renewals beginning Oct. 16, King said. Allstate said in a statement even though inflation and other factors are causing auto prices to rise, customers will continue to get competitive prices with Allstate and can save money for driving safely using Drivewise. King said he has initiated conversations with legislative leaders regarding changes to state law to give the commissioner’s office more authority “to protect consumers from these types of inexcusable actions.” According to Best’s State Rate Filings, more than 20 private passenger automobile insurance groups filed and were approved for rate increases of more than 10% in Georgia from Jan. 1 to Aug. 16, 2022. The top five groups with companies that have the highest overall percentage rate impact were Horace Mann Insurance Group, with 26.90%; American Family Insurance Group, with 15.20%; Country Financial PC Group, with 14.98%; USAA Group, with 14.60%; and Allstate Insurance Group, with 14.50%. The top five writers of all private passenger automobile insurance in Georgia in 2021, based on direct premiums written, were State Farm Group, with 20.78% market share; Progressive Insurance Group, 15.51%; Berkshire Hathaway Insurance Group, 12.97%; Allstate Insurance Group, 10.79%; and USAA Group, 8.94%, according to BestLink. – Timothy Darragh For the full list or to get more on this and other state rate filings, visit Best’s State Rate Filings. STAY AHEAD OF THE CURVE Best’s State Rate Filings® helps you keep up with US P/C program innovations, find out which competitors are entering which markets, and create targeted product development strategies. 22.BSRF012 Our Insight, Your Advantage™ Learn More: sales@ambest.com www.ambest.com • (908) 439-220060 BEST’S REVIEW • OCTOBER 2022 Book Store From Stone Tablets to Satellites: The Continual Intimate but Awkward Relationship Between the Insurance Industry and Technology The insurance world has been slower to adapt to change, including adopting new technologies, thereby creating an awkwardly intimate relationship between the industry and technology, said technology-focused insurance industry analyst and author Barry Rabkin. However, there are various ways insurers can use technology applications to conduct insurance commerce while fighting the intimacy awkwardness dynamic to attract and retain customers, said Rabkin in his book, From Stone Tablets to Satellites: The Continual Intimate but Awkward Relationship Between the Insurance Industry and Technology. The following is an edited transcript of an AM Best TV interview with Rabkin. How did the idea for the book come about? Being an analyst, even though I’m semi-retired, it seems to me that there has been a drumbeat and cries for insurance companies to remake themselves as technology firms or to use technology. And it finally got to a head, if you will. The book offers a buffet of perspectives of how technology is or could be used by insurers through a variety of lenses, including carrier, customer, producer, channel management and claim management perspectives, and how they can use technology to attract and keep customers profitably. How can insurers use technology to support customers, agents and brokers? It’s not about technology or its use. Rather, it’s how insurers meet the challenges. The first challenge is identifying the methods customers want to use to conduct business with you. That may not be technology-related, but it may be technology-supported or technology-augmented. Second is manage to the elements driving customers’ choice. It could be age or knowledge of the insurance industry or technology. What is the road ahead in the industry’s quest to conduct commerce while fighting the intimacy awkwardness dynamic? Insurers need to become more customer-focused, digital insurance firms. They also must expand their geographic and cyber locations. The world is getting more digital and we’re going into the cloud, so insurers cannot neglect pushing more of their operations, including their analytical insights, into the cloud so they can partner with more people who work for the firm regardless of where they are. BR —Lori Chordas Author: Technology Helps Insurers Conduct Insurance Commerce In the relationship between insurers and technology, the awkwardness is not knowing how to use applications. Go to Amazon to find these and other books. Send us your book recommendations at bestreviewcomment@ambest.com . AM Best Business Trilogy AM Best details the history of AM Best, the history of credit rating agencies, and the life of Alfred M. Best. The Company—A History of AM Best The Industry—A History of Credit Rating Agencies The Man—A Biography of Alfred M. Best T h e AM B es t B u s i n es s T ri l o g y The Industry The Company The Man Industry The A History of the Credit Rating Agencies AM B est DUSTRY mpany – y of AM Best t started as a one- shop jammed next or shaft on the top mmercial building an. Founder est was only 23 sed the cramped 0 a month, but he to provide reliable about the financial surance companies ho needed it, most policyholders. w years, Alfred he first credit ratings, ately sparked an try. AM Best began ing personnel, technology, moving ldings, eventually round the world. ay, major leaders uted to the dvancement, passing om one generation More than 100 years put his vision into dedicated employees continue to move MPANY T h e AM B e st B u s i n es s Tr il o g y The Industry The Company The Man AM B est A History of AM Best Company The Company* The Trilogy** $20.00 $75.00 $28.00 $105.00 g & handling. $9.99 Plus tax Company in Print and e-Book available Trilogy in Print available only through s THE MAN – A Biography of Alfred M. Best is the story of a brilliant man whose unflinching dedication to independence of thought and transparency in business sparked an entire industry — and whose personal tribulations humbled and strengthened him. Through it all, Alfred Best remained the eternal optimist. MAN T h e AM B es t B u s i n es s T ri lo g y The Industry The Company The Man AM B est A Biography of Alfred M. Best Man The The AM Best Business Trilogy The Industry – A History of the Credit Rating Agencies The Company – A History of AM Best The Man – A Biography of Alfred M. Best A portion of the proceeds from The AM Best Business Trilogy will be donated to the AM Best Foundation. The Foundation provides financial support to charitable organizations that encourage thought leadership in the field of insurance and risk management. ARTHUR SNYDER III Chairman, President & CEO AM Best AM Best is headquartered in Oldwick, New Jersey, where it provides credit ratings and other information services about the insurance industry. More than a century after its founding, the company remains committed to the vision of Alfred M. Best. It operates throughout the world and includes offices in Europe, the Middle East, Latin America and Asia. A.M. Best Company, Inc. 1 Ambest Road Oldwick, NJ 08858 www.ambest.com On Social Media Go to @AMBestCo on Twitter, AM Best on LinkedIn and AM Best on YouTube. For information about how to follow AM Best on social media, go to www.ambest.com/socialmedia. Jacket design by Jenica R. Thomas and theBookDesigners Made in USA AM Best TV Visit www.bestreview.com to watch the interview with Barry Rabkin. Lori Chordas is a senior associate editor. She can be reached at lori.chordas@ambest.com.61 BEST’S REVIEW • OCTOBER 2022 App Store Claims Processing App Fred Loya Insurance, a Texas-based auto insurance company, has used the SCI 360 Demand Review application to bring about a savings of $684,000 in lost adjustment expenses and a $3.8 million reduction in liability exposure. That’s because the app transforms and automates claims processing and ultimately reduces the amount of time and money needed for the arduous task, according to Michael Sturgis, chief executive officer, SCI 360. Following is an edited transcript of an interview with Sturgis to discuss how Fred Loya and others benefit from the app. What was the inspiration for the app? Every day, we’re on the iPhone. It’s become our system of preference, we say, where this iPhone is mobile, it’s modern, it’s secure, it’s agile, and it’s easy to use. When I want to extend some functionality on my phone, what I would do—I’ve learned to go to the AppExchange and download an app to extend functionality. It’s quick and it’s easy. Last week, for example, we made a change with our banks. I wanted to do banking online and on my phone. I went to the AppExchange. I download my new bank’s app. Magically, as we expect, the application starts working. How does this app automate claims processing and streamline the process? What does the Demand Review app do? The Demand package is scanned or it’s received electronically. It can be automated to directly inject itself in the claims management system and in the 360 Demand Review. Within seconds, you’re getting an OCR [optical character recognition] review of that document. It’s a contextual search the system is doing for key words and phrases. As these entities are recognized and measured against whatever decision matrix you have designed and put into play, a claim is placed on its claims journey. Now you have this touchless claims experience that you’ve taken from five days, and we’re averaging right now 43 seconds to complete that review. How does it boost accuracy? Hopefully, [by] aligning the people, processes and the technology to make it a complete, efficient tool. I think the key here for any insurance company and why I went this path in our company is a business person can manage this. It’s a low- to no-code solution. How is SCI 360, the company itself, equipped to provide this tool? Not unlike the banking app, where you download it to get what you need to make life easy for me in banking, insurance claims departments now have the ability to simply download our app and start utilizing it immediately. BR —Tom Davis App Helps Insurers Boost Claims Processing The SCI 360 Demand Review application helps reduce claims processing times, an insurance consultant says. BEST’S CREDIT RATINGS MOBILE APP Instant Access to Best’s Financial Strength Ratings 22.MK132D Our Insight, Your Advantage ™ Learn More: www.ambest.com/mobileapp www.ambest.com • (908) 439-2200 Tom Davis is managing editor. He can be reached at tom.davis@ ambest.com. AM Best TV Visit www.bestreview.com to watch the interview with Michael Sturgis.62 BEST’S REVIEW • OCTOBER 2022 Trending: Best’s News Trending: Best’s Review 1. Top Global Insurance Brokers - 2022 Edition 2. Largest 30 India Insurers - 2022 Edition 3. US Cyber Insurance - Top 20 Insurers - 2022 Edition 4. World’s Largest Insurance Companies - 2022 Edition 5. 30 Years After Hurricane Andrew, Bermuda Reinsurers, Florida ‘Joined at the Hip’ Trending: BestWire $ 1. Best’s Rankings: Progressive Surpasses State Farm to Become Largest US Total Auto Writer in 2021 2. Progressive Posts $542.9M Second-Quarter Net Loss on Property Goodwill Impairment 3. California Commissioner Withholds Auto Insurance Rate Approvals, Rattles Market 4. Lemonade Lays Off 20% of Workforce as It Completes $145 Million All-Stock Metromile Acquisition 5. Bankers to Exit Florida Homeowners, Faults Legislative Action in Floundering Market Trending: AM Best Webinars 1. How Insurers Are Countering Climate Change by Building Resiliency 2. How Layered Protection Supports Insurance Identity Fraud Management Trending: AM Best TV - News Coverage 1. PwC’s Friedman: Private Equity-Backed Buyers Will Increase Insurance Dealmaking 2. CSAA’s Huebner: Insurance Industry Cautiously Optimistic Heading Into Wildfire Season 3. Next Gen Insurance Leaders to Meet in Denver 4. LIMRA: Account-Takeover Fraud Rises in Life Insurance, Annuity, Retirement Plans 5. Allianz: Businesses Must Prepare for Rising Social Unrest Climate Change Best’s Rankings, Including Top Global Brokers, Lead the List of Best’s Review Articles Other trending content includes Progressive surpassing State Farm for total auto in 2021 and layoffs at Lemonade. These were the top trending items from June 23-Aug. 23, 2022. Features, news articles and videos were based on page views. Webinars were based on webinar attendance. The above content can be viewed on demand at www.bestreview.com, or by visiting AM Best’s home page at www.ambest.com. $ Payment or subscription required. Visit www.ambest.com/advertising to learn more about how to advertise in Best’s Review , BestWire, AM Best Webinars and AM Best TV. Global Brokers Auto Insurance Private Equity63 BEST’S REVIEW • OCTOBER 2022 Trending: Best’s Research Trending: Best’s Special Reports 1. Mortality Risk Worsening Due to COVID-19 $ 2. Second Year of COVID Drives Down US Health Insurers’ Earnings, but Impact Differs by Segment $ 3. US Life: Earnings Decline in 2021 Despite Highest New Premium Growth in Over Three Decades $ 4. Updated Net Capital Charge Tables for ACIS/CIRT Reinsurance Transactions $ 5. Loan-to-Value Rises, Debt Service Coverage Weakens for US Life Insurers $ Trending: Best’s Market Segment Reports 1. World’s 50 Largest Reinsurers 2. Global Reinsurance: More Stable and Improved Results Following Shift From Property Catastrophe Risks 3. Dedicated Reinsurance Capital Growth of 2021 May Not Continue 4. US Captive Insurance: Stepping in Amid Capacity and Pricing Challenges $ 5. US Crop Writers Benefit From Rising Commodity Prices and Innovation $ Trending: Best’s Commentary 1. Adverse Economic Environment Driving Significant Unrealized Losses in Insurers’ Investment Portfolios 2. Inflation Reduction Act Will Benefit US Health Insurers 3. Embedded Insurance Gradually Gains Traction 4. Troubled Florida Property Market Participants Under Immense Pressure 5. Despite New Reform Law, Florida Property Insurers to Face Continued Financial Pressures $ Trending: AM Best TV - Research Coverage 1. AM Best’s Briefing - Cyber: Increasing Demand, Skyrocketing Prices, Accelerating Risks. How Do Insurers React? 2. AM Best: Pandemic Drives Down US Health Earnings 3. AM Best’s Briefing - Captives: Stepping in Amidst Capacity and Pricing Challenges 4. AM Best: Mortality Risk Will Continue to Be Fueled by Pandemic 5. AM Best’s Briefing - Ratings Perspective on Non-Catastrophe ILS Trending Research Includes Reports on the World’s 50 Largest Reinsurers Other trending research includes reports on the global reinsurance market, mortality risk, health insurance and captive insurance. These were the top trending research and commentary reports from June 23-Aug. 23, 2022. $ Payment or subscription required. Best’s News & Research Service subscribers can download PDF copies of all Best’s Special Reports, Best’s Commentaries and Best’s Market Segment Reports along with supporting spreadsheet data at www.ambest.com. Cyber Unrealized Losses Reinsurers Mortality Risk64 BEST’S REVIEW • OCTOBER 2022 AM Best Webinars Visit http://www.ambest.com/conferences/webinars.asp for details or to register for webinars . Streaming Live How Imagery Models Are Delivering Ground Level Truth for Underwriting Risk C arriers know that in-person inspections for underwriting the interior and exterior of a structure can be time-consuming and expensive. However, Home and Commercial insurers are discovering the advantages of using imagery models in their underwriting processes. Imagery models can help improve risk selection through the identification of existing risks, hazards, and property conditions as well as provide insights into insured- to-value ratios and replacement costs by assessing building materials and quality. In addition, imagery models can be used to analyze millions of properties to provide a risk assessment for entire geographic areas. In this webinar, a panel of insurance analytics experts will discuss how using aerial and ground-level imagery can create a more consistent and reliable picture of risk, limiting human error that can lead to misclassifications, elevated costs and higher risk. Participants include Andrew Melkonian, principal data scientist, LexisNexis Risk Solutions; Elan Ding, senior data scientist, LexisNexis Risk Solutions; and Brian Keller, vice president of AI and Engineering, Flyreel, part of LexisNexis Risk Solutions. This complimentary AM Best Webinar is sponsored by LexisNexis Risk Solutions. Thursday, Oct. 6, 2 p.m. ET. How Insurers Are Improving Claims by Focusing on Customer Experience C arriers are laser-focused on customer satisfaction, and each claims experience yields a different result. Where is the industry delivering for customers? Where are we falling short? In a one-hour webinar, a panel of insurance industry experts, data scientists and technologists will uncover trends, relationships— and even some surprises—as we marry insights with compelling consumer data. We’ll show where we excel as an industry, where we fall short and which strategic areas to focus your CSAT efforts. This complimentary AM Best Webinar is sponsored by LexisNexis Risk Solutions. Tuesday, Oct. 18, 2 p.m. ET. On Demand AM Best’s Webinar - Inside Today’s Surplus Lines Market A panel of industry leaders in the surplus lines sector of the U.S. insurance market reviews the market as well as highlights of a new report on that sector. Panelists include Bryan Clark, president, Wholesale & Specialty Insurance Association and Gorst & Compass Insurance; Brady Kelley, executive director, WSIA; David Blades, associate director, industry research & analytics, AM Best; Lou Levinson, president and chief executive officer, Lexington Insurance Co.; Wendy Houser, chief territory officer, West, Markel; and David Obenauer, chief executive officer, CRC Group. This complimentary AM Best Webinar was co-sponsored by the WSIA Education Foundation and Lexington Insurance Co. BR Panel to Discuss How Imagery Models Can Create a More Consistent Picture of Risk Professionals also explore the relationship between the claims experience and customer satisfaction and examine the state of the surplus lines sector. To Read the Magazine Online Visit www.bestreview.com. On Social Media Visit @AMBestCo on Twitter, follow AM Best Information Services on LinkedIn and on YouTube. Visit www.ambest.com/socialmedia for information about how to follow AM Best on social media. Best’s Review delivers a comprehensive package of property/casualty and life/health insurance industry news, trends and analysis monthly. Find us on the internet at www.bestreview.com. The latest edition of Best’s Guide to Understanding the Insurance Industry is available on Amazon.65 BEST’S REVIEW • OCTOBER 2022 AM Best TV & Audio Verisk’s Shavel: Insurers Can Better Weather the Constantly Changing Technological Environment With Data Partnerships L ee Shavel, the new CEO of Verisk, who spent five years as the company’s CFO, discusses the myriad topics insurers are facing including data activation, how insurers should confront the talent crisis and an ever-evolving risk landscape. AM Best: Most MENA Insurance Markets Hold Steady on Growth Despite Pandemic I nflation and the implementation of IFRS 17 are among the top challenges for Middle East and North Africa insurers, said Vasilis Katsipis, general manager, market development, AM Best. Insurers Are Customizing Work Life to Meet Employees ‘Where They’re At’ F lexibility is key for insurers to navigate the post- lockdown work environment. AM Best Human Resources Manager of Talent Acquisition Genevieve Glenn-Shipmon and Nationwide Senior Vice President of Commercial Lines Linda Stueber discuss the new workplace reality. Sylvia Group’s Beauregard: Insurers Increasingly Involved in Loss Control for Schools J ohn Beauregard, senior partner, Sylvia Group, said insurers are becoming new school watchdogs amid the growing threat of mass shootings, sexual-abuse lawsuits, bullying and other liability risks. Data Partnerships Help Insurers Roll With Technology’s Constant Changes, Verisk CEO Says Also, industry professionals discuss growth in MENA insurance markets as well as how insurers can navigate the post-lockdown work environment. On Demand Lee Shavel Vasilis Katsipis Linda Stueber John Beauregard F&G: Inflation, Recession and Health Care Costs Top Americans’ Retirement Concerns Also, AM Best audio explores the changing role of the insurance company asset manager and the increase in outsourced investments. F&G: Americans Fret Over Inflation, Recession and Health Care Costs in Retirement C hris Blunt, president and CEO of F&G, discusses a recent survey that shows 80% of Americans over the age of 50 said they’re worried about inflation in retirement; 71% are worried about a recession; and 66% said they’re worried about rising health care costs in retirement. Insurance AUM’s Foley: Outsourced Investments Climb to $3.4 Trillion I nsurers are outsourcing their investment-grade bond mandates at low fees and using the savings to pay higher management fees and private asset classes to secure needed income, said Stewart Foley, founder and managing partner, Insurance AUM. BR Genevieve Glenn-Shipmon Visit www.ambest.com/ambtv to see new and archived video from AM Best TV. Visit www.ambest.com/ambaudio to listen to new and archived audio from AM Best Audio.Best’s Credit Rating Actions 66 BEST’S REVIEW • OCTOBER 2022 T his edition lists all Credit Rating actions that occurred between Aug.1 and Aug. 31, 2022. For the Credit Rating of any company rated by AM Best and basic company information, visit the AM Best website at www.ambest.com/ratings/access.html or download the ratings app at www.ambest.com/sales/ambmobileapp. Rating Action Business Type Company Name/ Ultimate ParentAMB# CurrentPrevious Domicile FSR ICR Outlook/ Implications FSR ICR Outlook/ Implications AMERICAS LIFE/HEALTH UpgradeL Amer Bankers Life Assur Co of Florida Assurant, Inc. 006040 AStableA-Stable Florida, USA aStablea-Stable UpgradeL Atlantic Coast Life Insurance Company Advantage Capital Partners, LLC 006132 B++StableB++Stable South Carolina, USA bbb+StablebbbStable Rating Withdrawal LBlue Cross Life Insurance Co. of Canada*068557 NRA-Negative New Brunswick, CAN nra-Negative UpgradeL Caribbean American Life Assurance Co Assurant, Inc. 068045 AStableA-Stable Puerto Rico, USA aStablea-Stable DowngradeL ivari Canada Pension Plan Investment Board 066805 A uNegativeA+Stable Ontario, CAN a+ uNegativeaa-Stable DowngradeL Mutual Savings Life Insurance Company Kemper Corporation 006753 A-StableANegative Alabama, USA a-StableaNegative DowngradeL Reliable Life Insurance Company Kemper Corporation 006986 A-StableANegative Missouri, USA a-StableaNegative DowngradeH Reserve National Insurance Company Kemper Corporation 006998 A- uDevelopingANegative Illinois, USA a- uDevelopingaNegative UpgradeL Sentinel Security Life Insurance Company Advantage Capital Partners, LLC 007040 B++StableB++Stable Utah, USA bbb+StablebbbStable DowngradeL Union National Life Insurance Company Kemper Corporation 007155 A-StableANegative Louisiana, USA a-StableaNegative DowngradeL United Insurance Company of America Kemper Corporation 007174 A-StableANegative Illinois, USA a-StableaNegative AMERICAS PROPERTY/CASUALTY Under Review P 1st Choice Advantage Insurance Co, Inc. Everett Cash Mutual Insurance Company 012427 A uNegativeAStable Pennsylvania, USA a uNegativeaStable Initial Rating P 21st Century Auto Ins Co of New Jersey Ambac Financial Group, Inc. 021267 A-StableNR New Jersey, USA a-Stablenr DowngradeP Alpha Property & Casualty Insurance Co Kemper Corporation 002634 A-StableANegative Wisconsin, USA a-StableaNegative Outlook Change P American Bankers Insurance Co of Florida Assurant, Inc. 000120 APositiveAStable Florida, USA a+Positivea+Stable Outlook Change P American Federated Insurance Company Prospect Capital Corporation 000357 BStableBNegative Mississippi, USA bbStablebbNegative Under Review P American Reliable Insurance Company Global Indemnity Group, LLC 000150 A uNegativeAStable Arizona, USA a uNegativeaStable Outlook Change P American Security Insurance Company Assurant, Inc. 002049 APositiveAStable Delaware, USA a+Positivea+Stable Outlook Change P Antilles Insurance Company Anglo Holdings LLC 004151 A-PositiveA-Stable Puerto Rico, USA a-Positivea-Stable * The ratings were affirmed at a-/A- on Aug. 25, 2022, and subsequently withdrawn. Outlook: Positive, Negative, Stable. Implications: Positive, Negative, Developing. Business Type: P = Property/Casualty (Nonlife); L = Life; H = Health; T = Title; C = Composite. Opinion Modifiers: u = Under Review; sf = Structured Finance; i = Indicative Credit Rating Modifier; s = Syndicate Credit Rating Modifier Operating Companies67 BEST’S REVIEW • OCTOBER 2022 Rating Action Business Type Company Name/ Ultimate ParentAMB# CurrentPrevious Domicile FSR ICR Outlook/ Implications FSR ICR Outlook/ Implications AMERICAS PROPERTY/CASUALTY (CONTINUED) DowngradeP Bankers Insurance Company Bankers Financial Corporation 003683 B+NegativeB++Negative Florida, USA bbb-NegativebbbNegative DowngradeP Bankers Specialty Insurance Company Bankers Financial Corporation 013845 B+NegativeB++Negative Louisiana, USA bbb-NegativebbbNegative DowngradeP Cameron Mutual Insurance Company Cameron Mutual Insurance Company 000861 BNegativeBStable Missouri, USA bbNegativebb+Negative DowngradeP Capitol County Mutual Fire Insurance Co Kemper Corporation 003829 A-StableANegative Texas, USA a-StableaNegative Outlook Change P Caribbean American Property Insurance Co Assurant, Inc. 011355 APositiveAStable Puerto Rico, USA a+Positivea+Stable DowngradeP Charter Indemnity Company Kemper Corporation 010419 A-StableANegative Texas, USA a-StableaNegative Outlook Change P Claverack Cooperative Insurance Company Mid-Hudson Group 000305 A-NegativeA-Stable New York, USA a-Negativea-Stable Initial Rating P Consolidated National Insurance Company Ambac Financial Group, Inc. 021266 A-StableNR Colorado, USA a-Stablenr Outlook Change PCountry-Wide Insurance Company000301 C++StableC++Positive New York, USA b+Stableb+Positive DowngradeP Erie Insurance Company Erie Insurance Exchange 004272 A+StableA+Stable Pennsylvania, USA aa-StableaaNegative DowngradeP Erie Insurance Company of New York Erie Insurance Exchange 002890 A+StableA+Stable New York, USA aa-StableaaNegative DowngradeP Erie Insurance Exchange Erie Insurance Exchange 000348 A+StableA+Stable Pennsylvania, USA aa-StableaaNegative DowngradeP Erie Insurance Property & Casualty Co Erie Insurance Exchange 011406 A+StableA+Stable Pennsylvania, USA aa-StableaaNegative Under Review P Everett Cash Mutual Insurance Company Everett Cash Mutual Insurance Company 004351 A uNegativeAStable Pennsylvania, USA a uNegativeaStable Under Review P Ever-Greene Mutual Insurance Company Everett Cash Mutual Insurance Company 004757 B++ uDevelopingB++Stable Pennsylvania, USA bbb+ uDevelopingbbb+Stable DowngradeP Financial Indemnity Company Kemper Corporation 000391 A-StableANegative Illinois, USA a-StableaNegative DowngradeP First Community Insurance Company Bankers Financial Corporation 011572 B+NegativeB++Negative Florida, USA bbb-NegativebbbNegative DowngradeP Flagship City Insurance Company Erie Insurance Exchange 011314 A+StableA+ Stable Pennsylvania, USA aa-StableaaNegative UpgradePForestry Mutual Insurance Company012251 A-StableB++Positive North Carolina, USA a-Stablebbb+Positive Outlook Change PGermantown Mutual Insurance Company000414 ANegativeAStable Wisconsin, USA aNegativeaStable Initial Rating P Greenwood Insurance Company Ambac Financial Group, Inc. 021265 A-StableNR Pennsylvania, USA a-Stablenr DowngradeP Infinity Assurance Insurance Company Kemper Corporation 002515 A-StableANegative Ohio, USA a-StableaNegative DowngradeP Infinity Auto Insurance Company Kemper Corporation 000555 A-StableANegative Ohio, USA a-StableaNegative DowngradeP Infinity Casualty Insurance Company Kemper Corporation 004661 A-StableANegative Ohio, USA a-StableaNegative Outlook: Positive, Negative, Stable. Implications: Positive, Negative, Developing. Business Type: P = Property/Casualty (Nonlife); L = Life; H = Health; T = Title; C = Composite. Opinion Modifiers: u = Under Review; sf = Structured Finance; i = Indicative Credit Rating Modifier; s = Syndicate Credit Rating ModifierNext >