AM Best recently upgraded Frank Winston Crum Insurances’ (FWCI) outlook determination from “Stable” to “Positive," an indication of confidence in the company’s future stability.
AM Best, a worldwide authority, rates insurance companies on their financial strength, ability to pay claims, and the credit quality of their obligations. Its objective rating scale, from A+ to D, is based on factors such as balance sheet strength, operating performance, business profile, and enterprise risk management (ERM).
In addition to a financial rating, AM Best may also issue an outlook determination of “Positive,” “Negative,” or “Stable” to indicate a company’s likely performance over the next 36 months. A company that meets or exceeds a “Positive” outlook prediction has a good possibility of improving its financial strength rating.
“I’m proud of our AM Best B++ rating,” says FWCI President Matt Crum, “but a sustained A rating is certainly our end game. The ‘Positive’ outlook determination we received shows that we are moving in the right direction and AM Best is noticing. We’re committed to excellence, and we will continue to work to ensure that our rating reflects that.”
FWCI is a commercial insurance carrier specializing in providing reliable and affordable workers’ compensation and general liability coverage through an exclusive network of agents.