Which service can an insured use to assess the financial strength of an insurance company?

An independent rating service is specifically designed to evaluate and assess the financial strength and stability of insurance companies. These ratings are based on comprehensive analyses of an insurer's financial health, including its assets, liabilities, reserves, underwriting experience, and claims-paying ability.

These ratings provide valuable information to consumers by classifying insurance companies based on their ability to meet future obligations to policyholders. This independent evaluation can help an insured make informed decisions about which insurer to trust with their coverage.

While annual financial reports provide important information about an insurer's financial standing, they may not be as accessible or straightforward for consumers to interpret. Consumer reviews can give insight into customer experiences but may not accurately reflect financial strength. Insurance brokers can provide personalized recommendations, but their assessments may be subjective or based on different factors than pure financial strength.