Financial strength rating a priority when brokers assess insurers

survey

Brokers are placing much greater emphasis on the credit ratings of the insurers they deal with, according to a recent survey by NIG.

The research, which consulted 100 commercial brokers of various sizes, found that nearly nine out of 10 (85%) felt ratings had become more important in the wake of the financial crisis, with 51% of those believing it was 'absolutely' more important.

When evaluating an insurance firm, 84% of respondents to the survey thought financial strength rating came first, followed by an insurer's solvency ratio (41%) and level of gross written premium (35%).

Tellingly, 31% of those surveyed said they

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: