It is important to know and consider the financial stability of your insurance carrier and the stability of those from whom you are comparing quotes. This information is available to the public. You should look this up and take the precautionary measures to avoid a potential situation of having your policy with an insurance carrier that is financially unable to pay claims.
Feel free to contact the agents at FloridaWC about the rating of any workers comp insurance carrier in the state of Florida. You may also use a one of the primary third party financial rating companies that provide this information:
- AM Best – This is the premier rating authority on insurance carriers. They review current financial data on insurance carriers and trends in the data over the past years. You can receive reports on insurance carriers through their website, www.ambest.com.
- Demotech – This is an alternative rating source for newer insurance carriers that have not been included in the AM Best rating. For more information about Demotech, please read this article. You can also receive reports on their website, www.demotech.com.
You can be assured that our agents look up the financial data on every insurance carrier through which we offer quotes and we stay current on new rating releases from a variety of sources. Feel free to contact us with any questions you have regarding insurance carriers and your workers’ compensation policies.