Although the Department of Insurance does not rate the financial condition of insurance companies, there are many private rating services that conduct financial analyses and grade insurance companies. Each rating service uses its own criteria. Private ratings are only opinions and carry no guarantee of accuracy. However, such ratings can provide you with some information about how private analysts view the financial condition of particular insurance companies.
You can obtain those ratings via the internet. Many local libraries also subscribe to Best's Insurance Reports. When checking with a rating agency, look for an explanation of its criteria so that you fully understand the rating assigned to a particular company. You might also want to compare prior year ratings for that company. Listed below are five rating services which can provide rating information on insurance companies.
The above links to other web sites are not maintained by the Department of Insurance. Also, a link to another web site does not represent an endorsement of that site by this Department.