Insurers Security Selection

In today's dynamic financial landscape, the decision to purchase insurance is not just a matter of finding the most affordable policy or the one with the best coverage. It is equally crucial to consider the financial stability and security of the insurance company providing the coverage. This is where insurer security selection comes into play - the practice of monitoring the financial status and change of ratings of insurance companies to ensure that your insurance program is placed with financially secure insurers.

Monitoring the financial status of insurance companies involves analyzing various financial indicators and metrics to assess their solvency and ability to meet their obligations. Key factors to consider include the insurer's capital adequacy, liquidity, profitability, and asset quality. Additionally, it is important to keep a close eye on the insurer's credit ratings assigned by reputable rating agencies such as A.M. Best, Moody's, and Standard & Poor's. These ratings provide an independent assessment of the insurer's financial strength and creditworthiness, helping you make informed decisions about the reliability of your chosen insurer.

There are many insurance companies, so choosing between them can be a challenge. An experienced risk consultant should also be able to determine the anticipated cost of the protection and examine and qualify the insurers who will bid to handle the account. At AMG, we evaluate a prospective insurer’s financial strength before placing a policy and recommend you purchase insurance to protect you financially and provide peace of mind. We select a company that is likely to be financially sound for many years, by using the control and monitor process by regulator.