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The definitions contained herein are for general information only and are not designed for use in connection with the interpretation of any insurance policy or annuity policy issued through Insurance Answer Center.
Auto Insurance Glossary Terms  4 A B C D E F G H I J K L M N O P Q R S T U V W Y

Standard & Poors

This New York-based rating service bases its judgment of insurers on their claims paying ability. The more reliable a carrier is expected to be in covering its policy liabilities, the higher their rating. Weighing such factors as industry-specific risk, management performance, operating efficiency and capitalization, S&P grants companies a letter grade. The grade scale includes AAA (superior financial security; the highest), AA (excellent; highly safe), A (good; more vulnerable to economic change than highly rated companies), BBB (adequate; more exposed to economic change than highly rated companies), BB (adequate, but capacity to meet long-term policies is vulnerable), B (vulnerable), CCC (highly vulnerable), to R (for being subject to regulatory action; the lowest).

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