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Frequently Asked Questions: Best's Rating Reports: Overview
What are Best's Rating Reports?
What information is included in a company's Best's Rating Report?
What can Best's Rating Reports be used for?
Can any insurance company purchase Best's Rating Reports?
How long can I display my company's Best's Rating Report (Online)?
What happens if my company's Best's Rating changes after I've purchased my Best's Rating Report?
Can the Best's Rating Report (Online) be printed one time for a single customer's use?
Can the Best's Rating Report (Online) be printed in multiple copies for distribution?
Is there a way to brand my company's Best's Rating Report with our corporate logo?
How much do Best's Rating Reports cost?
How do I order Best's Rating Reports?
Are any additional services included with my purchase of Best's Rating Reports?
What are Best's Rating Reports?
Best's Rating Reports are printed or Web-ready reports, available in three different print sizes (small, mid-size and large) or in PDF format (mid-size and large), that provide an objective third-party evaluation of an insurance company's financial performance, including the company's current Best's Rating.
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What information is included in a company's Best's Rating Report?
Best's Rating Reports feature:
· BestMark (if applicable)
· Best's Rating
· Rating Rationale
· Key financial indicators table
· Business review
· Officers
· Directors
· Territory
· Balance sheet
· Business production and profitability (P/C)
· History (P/C)
· Management (P/C)
· Earnings (L/H)
· Capitalization (L/H)
· Investments and liquidity (L/H)
Optional with the small and mid-size reports: A financial summary table and a bar graph that features one of the following:
· Net Premiums Written
· Total Admitted Assets
· Policyholders' Surplus (P/C)
· Insurance in Force (L/H)
The large report is a complete replica of the company's most current AMB Credit Report - Insurance Professional (Unabridged).
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What can Best's Rating Reports be used for?
The printed reports are ideal for presentations, proposals, mailings, trade show displays, sales and training materials and corporate relations. Best's Rating Reports allow you to:
· Document your company's financial strength to policyholders, potential clients and investors
· Maintain current business with premium renewals
· Close pending contracts
· Recruit agents and brokers
· Foster pride and confidence among employees and stockholders.
You can post the online version of your Best's Rating Report on your company Web site to give visitors, clients and prospects instant access to reliable third-party documentation of your company's financial strength.
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Can any insurance company purchase Best's Rating Reports?
The following restrictions apply to the purchase of printed reports:
· Companies with a current Best's Rating of B+ or better qualify to purchase small, mid-size or large reports.
· Companies with a Best's Rating lower than B+ may purchase the large report only, provided that the A.M. Best Rating Division Senior Vice President approves the purchase and that A.M. Best has executed a full report on the company and the report includes a full explanation of the company's Best's Rating or "Not Rated" classification.
· Best's Rating Reports may be purchased only by the insurance entity, parent organization or lead company of a carrier whose report is in the current edition of Best's Insurance Reports.
The following restrictions apply to the purchase of online reports:
· Companies with a current Best's Rating of B+ or better (and not having a "pd" modifier) qualify to license Best's Rating Reports (Online).
· Other companies may license the large report only, provided that the A.M. Best Rating Division Senior Vice President approves the license and that A.M. Best has executed a full report on the company and the report includes a full explanation of the company's Best's Rating or "Not Rated" classification.
· Best's Rating Reports (Online) may be licensed only by the insurance entity, parent organization or lead company of a carrier whose report is in the current edition of Best's Insurance Reports.
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How long can I display my company's Best's Rating Report (Online)?
The standard license term is one year from the effective date of the license agreement.
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What happens if my company's Best's Rating changes after I've purchased my Best's Rating Report?
Printed reports: If your company's Best's Rating changes, you may not distribute the original printed report. Instead, a prorated credit may be applied toward your purchase of new reports. Unused inventory must be returned to A.M. Best along with your request for a credit on your company letterhead. The sooner the new order is placed following the rating change, the greater the credit that will be applied.
Online reports: If your company's Best's Rating changes, you must remove the original Best's Rating Report (Online) from your Web site. A.M. Best will provide you with an updated PDF to replace it within a reasonable amount of time. Under certain circumstances, your license term may be extended if there is a significant delay in providing an updated file.
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Can the Best's Rating Report (Online) be printed one time for a single customer's use?
Yes.
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Can the Best's Rating Report (Online) be printed in multiple copies for distribution?
No.
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Is there a way to brand my company's Best's Rating Report with our corporate logo?
Yes. Please call the Rating Report Fulfillment Group at (908) 439-2200, ext. 5117, to request the Artwork Standards Form, which outlines the requirements for graphics files. Note: If you supply your logo in color, additional charges will apply.
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How much do Best's Rating Reports cost?
For pricing information, call the Rating Report Fulfillment Group at (908) 439-2200, ext. 5117, or e-mail rating.reports@ambest.com.
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How do I order Best's Rating Reports?
To order your Best's Rating Report, call the Rating Report Fulfillment Group at (908) 439-2200, ext. 5117, or e-mail rating.reports@ambest.com. Each report contains the most current data and analysis available at the time you place your order.
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Are any additional services included with my purchase of Best's Rating Reports?
Your purchase of printed Best's Rating Reports includes a year's subscription to Best's Review, A.M. Best's award-winning monthly magazine covering the property/casualty and life/health sectors, industry strategies, technology and other topics affecting the worldwide insurance industry. (Best's Review is not included with Best's Rating Reports [Online] or any add-on print order.) We will also include an unframed Best's Rating Certificate with each completed Rating Report order. (Framed certificates are also available to Rating Report purchasers for an additional $125.) A professionally printed and signed Best's Rating Certificate shows your current Best's Rating, and is suitable for display in a prominent location.
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