I need some help on this one…..”These rating actions reflect the dissolution of Electric Lloyd’s effective December 31,2009.” If that is the case, why is this rating dated March 24,2010 even necessary??? “The company no longer exists and all policies were either non-renewed or underwriten by the company’s parent”….. blah, blah blah. Isn’t this somewhat like rating all of the AIG credit default swaps AAA??? A.M. Best reduces the company’s ratings 83 days after it closes it’s doors.
I couldn’t have said it better myself Jim. Thats exactly what I was thinking. So how accurate exactly is this A.M. Best? I’ll be sure to do a little research before trusting thier ratings on companies that don’t exist.
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I need some help on this one…..”These rating actions reflect the dissolution of Electric Lloyd’s effective December 31,2009.” If that is the case, why is this rating dated March 24,2010 even necessary??? “The company no longer exists and all policies were either non-renewed or underwriten by the company’s parent”….. blah, blah blah. Isn’t this somewhat like rating all of the AIG credit default swaps AAA??? A.M. Best reduces the company’s ratings 83 days after it closes it’s doors.
I couldn’t have said it better myself Jim. Thats exactly what I was thinking. So how accurate exactly is this A.M. Best? I’ll be sure to do a little research before trusting thier ratings on companies that don’t exist.