How is the data collected and validated for the financial products?
A.M. Best collects annual and quarterly statement data from thousands of companies (property/casualty and life/health companies, HMOs, alternative-market entities and others). The data is prepared and submitted on software programs (such as BestESP Services) in the manner defined by the requirements of the National Association of Insurance Commissioners (NAIC). To ensure the accuracy and reliability of the data, we perform an exhaustive series of inter- and intra-page and current- to prior-year cross-checks. Major errors or inconsistencies that cannot be rectified by A.M. Best are reviewed with the insurer for further clarification when possible. We lead the industry in cross-checking calculations, devoting vast resources to the data-validation effort.
