The property/casualty industry's impairment rate is at a 25-year low for 2005, according to a new report from A.M. Best.
Even with the five new 2005 property/casualty financial impairments that have emerged in the U.S since Best's last report in November 2005, the current count of 11 insurers equates to an impairment rate of 0.32 percent, or one in 313 companies. That is the lowest since the 0.3 percent impairment rate in 1980, and also less than 40 percent of the 37-year property/casualty industry average (0.83 percent).
A.M. Best designates an insurer as a Financially Impaired Company as of the first official regulatory action taken by an insurance department, whereby the insurer's:
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