Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Is it safe to insure with a foreign insurance company”?

April 26, 2017foreign Insurance insure safe

0

Posted

Is it safe to insure with a foreign insurance company”?

1 Answer

0

Posted

Sure it is…..as long as the company has an A.M. Best rating. Be sure you verify the company is rated, B+ or higher with at least 100 million in policyholders surplus. Many domestic US companies do not have sufficient capacity (policyholders surplus) or reinsurance to withstand the catastrophic losses – primarily named and numbered windstorm losses.