Guide Update 20-02
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Insurance Carrier Rating Agencies
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HIGHLIGHTS |
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Effective March 23, 2020, Demotech, Inc. was added as an acceptable rating agency, in addition to A.M. Best Company, for all property and liability insurance carriers. |
Primary Changes
Property and liability insurance carriers must be rated by either A.M. Best Company or Demotech, Inc. Carriers rated by Demotech, Inc. must have a
- Financial Stability Rating of A or better, and
- policyholder surplus of at least $40 million.
In addition, if a Demotech, Inc. rated carrier is downgraded below an A, the policy is unacceptable and the Borrower must immediately obtain replacement coverage with a compliant carrier, even if the policy has not yet expired.
Questions
Please contact Jennifer Clements at (202) 752-5988, or [email protected], with any questions.