The financial strength rating (FSR) of the California State Automobile Association Inter-Insurance Bureau was downgraded from “A+” to “A” by A.M. Best. Best indicated that the downgrade reflected a downturn in the Bureau’s post-dividend operating earnings in recent years. In addition, Best said it expected the restoration of profitability levels relative to “A+” standards to be a challenge to the Bureau in the near term. However, the Bureau maintains outstanding financial strength and remains a dominant personal auto market presence in its selected operating territories, specifically in California.
Topics California Auto
Was this article valuable?
Here are more articles you may enjoy.
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Bayer’s Supreme Court Win in Roundup Case No ‘Silver Bullet’ 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
Intersecting Risks and the Future of Construction Insurance From This Issue
