Insurers, A.M. Best reach preliminary settlement in financial ratings case

July 3, 2024 by Doug Bailey

The parties in a case accusing the credit rating agency A.M. Best of unfairly downgrading a pair of life insurers have reached a preliminary settlement, according to a letter filed with the court.

Atlantic Coast Life Insurance and Sentinel Security Life Insurance want to stop A.M. Best from downgrading their financial strength ratings, which would drop from B++ to B-, according to the lawsuit filed last month in the District of New Jersey federal court.

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Originally Posted at InsuranceNewsNet on June 28, 2024 by Doug Bailey.