Understanding Insurance Company Financial Stability Ratings, March 2015

(2015) Understanding Insurance Company Financial Stability Ratings, March 2015. Commerce, Department of

pdf
Preview
PDF
0040_Understanding_Insurance_Co_Ratings.pdf

File Size:28kB

Abstract

Choosing a financially strong insurance company is important when buying health insurance. You want the company to still be in business when you have claims, which can be 20 to 30 years from now. Insurance companies selling insurance in Iowa have met the minimum legal standards to be licensed by the State of Iowa Insurance Division. This licensure doesn’t mean the company has a high financial stability rating. Several independent rating agencies evaluate the financial stability of insurance companies. The rating for an individual insurance company is an opinion as to its financial strength and ability to pay claims in the future. When evaluating a company, a rating agency may consider a company's balance sheet strength, operating performance and business management and strategies.

Item Type: Departmental Report
Keywords: Insurance, Finiance, Senior Health
Subjects: Health and medicine > Healthcare
Business and industry > Insurance > Health insurance and health care coverage
Business and industry > Insurance
ID Code: 23422
Deposited By: Margaret Barr
Deposited On: 16 Feb 2017 17:00
Last Modified: 16 Feb 2017 17:00
URI: http://publications.iowa.gov/id/eprint/23422