Standard & Preferred Insurance Company Assigned A- (Excellent) Rating by AM Best

QUEENS, NY, November 26, 2024 (Newswire.com) - Standard & Preferred Insurance Company is excited to announce that, effective November 18, 2024, it has earned a Financial Strength Rating and Long-Term Issuer Credit Rating of A- (Excellent) from AM Best which stands alongside its Demotech A Exceptional Rating.

AM Best evaluates and rates over 16,000 insurance companies worldwide, using a grading system from A+ to D, to indicate a company's ability to meet its short and long-term obligations. Best known for its Financial Strength Ratings (FSRs), which assess an insurer's ability to fulfill policy and contract obligations, the ratings are determined through a combination of quantitative and qualitative analysis. Analysts review several factors and present those findings to a committee for final approval. This recognition reflects AM Best's assessment of Standard and Preferred's strong balance sheet, focused business profile, and effective enterprise risk management approach.

"We are honored to receive this affirmation of our company's financial strength and operational stability," Standard & Preferred President Bent Philipson said. "This rating highlights our dedication to delivering exceptional service and maintaining trust with our clients and partners."

Standard & Preferred is proud of its excellent customer service, loss control, and unmatched claims support. The company encourages those seeking a quote to submit inquiries regarding its focused workers' compensation coverage offerings.

Standard and Preferred serves a niche market, providing workers' compensation coverage for the healthcare industry in New York, including nursing homes, assisted living facilities and homecare agencies. The Company writes workers' compensation business through an affiliated managing general agent, Graph MGA LLC.

Soon, it hopes to write Professional Liability coverage for the same market.

For more information, please visit the original press release from AM Best or consult the following:

Phone: (212) 235-1231

New policies contact: [email protected]

General Information: [email protected]

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Contact Information

Matthew Bachrach
[email protected]

Source: Standard & Preferred Insurance Company