Pago Pago, American Samoa 96799. These cookies do not store any personal information. 17486061. Copyrights SOPAC southern Pacific Insurance Corporation. Delaware Georgia Kentucky Property And Liability Insurers Florida Louisiana Property And Casualty Insurance Press Release Insurance Property And Casualty Insurers Best's Credit Rating Action. Upon his retirement from the Marine Cor,Mr. Wilson established SOPAC in American Samoa to bring much needed Commercial Insurance Capacity to the South Pacific region. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. Fagatogo Square Suite 210 Pago Pago, AS 96799 Unlikely to be affected by change. Thank You! The ratings of Life of the South Group reflect its balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. Note: Selecting a country, a state or province will return all companies matching any of the selections. Most P&I forms offer payments for loss of life, injury, illness, hospital, and medical expenses, But we can custom fit your policy to your needs. Search for a Rating. Excellent financial security. Best's Credit and Issue Credit Ratings AM Best has provided ratings & analysis on this company since 1928. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive issuer credit rating ofa+(stable)from A.M. Best. Pacific Life Insurance Review. Marginal financial security. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. Insurance of vessel and its equipment are included under hull insurance, there are a number of classification of vessels such as ocean steamers, sailing vessels, builders, risks fleet policies and so on.It is concerned with the insurance of hull and machinery of ocean-going and other vessels like barges, tankers, Fishing and sailing vessels.Insurance of construction risks or builders risks deals with hull insurance for vessels when they are under construction.A recent development in hull insurance has been the growth of insurance of offshore oil/gas exploration and production units as well as connected construction risks.It is covered with the specialized class of business particularly for Fishing Vessels, Trawlers, Dredgers, Inland and Sailing Vessels are available. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. AAA. Strong ability to meet obligations. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Interpretation. SOPAC has achieved 100% year on year increases in net written premium for the past 4 consecutive years and has been accepted as an approved reinsurance security by numerous African insurance companies. Due to technical issues we are unable to send email this time. No opinion is expressed about the firm's financial condition. More susceptible to economic change that highly rated companies. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. Not rated. You need business auto insurance to cover your vehicles. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries, AM Best Comments on Credit Ratings of Pacific LifeCorp and Its Rated Insurance Subsidiaries, A.M. Best Upgrades Issuer Credit Ratings of Members of Pacific Life Group, A.M. Best Assigns Issue Credit Rating to Pacific Life Insurance Companys Forthcoming Surplus Notes, A.M. Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries, A.M. Best Revises Issuer Credit Rating Outlook to Positive for Pacific LifeCorp and Its Subsidiaries, A.M. Best Affirms Ratings of Pacific LifeCorp and Its Subsidiaries. Could impact policyholders. Marginal. But opting out of some of these cookies may have an effect on your browsing experience. This category only includes cookies that ensures basic functionalities and security features of the website. SOPAC is registered and/or authorized in numerous jurisdictions including American Samoa under Business License No. Insurers in any of these ratings viewed as having poor ability to meet obligations. Good financial security. Ability to meet obligations may be moderate. 033813: AAA Southern New England Other Corporate - Property/Casualty (Holding Company) US: Rhode Island: 083796: AAI Limited Insurance - Property . SOPAC has applications pending at this time in the European Union, Puerto Rico, and the Federated States of Micronesia. Register to attend at the link below Thank you for contacting us.We will get back to you shortly. Individual or Business Insurance?Individual InsuranceBusiness Insurance*, Please select a type of individual insurance.Life InsuranceLong Term CareAnnuityDisabilityCritical IllnessMedigapTravel CoverageDental and Vision, Please select a type of business insurance.Life InsuranceDisabilityCritical IllnessGroup Life & LTD Insurance, Copyright 2023 South Pacific Insurance, PO Box 893519 The outlook of these Credit Ratings (ratings) is stable. E&O insurance can cover the cost of defending your company in a civil lawsuit and certain damages awarded, even if the legal action turns out to be groundless. Yes, Pacific Specialty Insurance Company is an insurance company. AM Best Revises Outlooks to Negative for Mutual of America Life Insurance Company Date: February 24, 2023 AM Best Affirms Credit Ratings of Seguros Monterrey New York Life, S.A. de C.V. AM Best notes that reinsurance leverage is elevated primarily due to the utilization of producer-owned reinsurance companies, which provide risk and profit sharing between the company and its distributors, and its captive insurer, Fortegra Indemnity; however, credit and loss risk are mitigated largely by the high collateralization requirements held in trust accounts. Use the (?) Under Review Best's Rating, Disclosure Information Form Significant risk, even in a stable economy. Lower than Aaa because long-term risks appear somewhat larger. To protect the private owner and smaller commercial operations, we offer full protection designed to fit your exact needs. For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments. Under supervision of insurance regulators. Fagatogo Square Suite 210 Pago Pago, AS 96799 AM Best Rating Services. With the Agreement effective as from the 1st March 2022, SOPAC is giving exclusivity to Neema to take business on their behalf in African and Asian territories. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. We, as a company, will continue to improve in the areas that require more focus and will remain consistent in areas where we excel. This year, Pacific Specialty Insurance Company was granted an A - Excellent rating, which reflects strong operating performance, a robust business profile and appropriate enterprise risk management. PO Box 997868 AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company : AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of "aa-" (Superior) of Meiji Yasuda Life Insurance Company (Meiji Yasuda) (Japan). Excellent. More vulnerable to economic change than highly rated companies. Exceptionally strong. During its history, SOPAC has been accepted as approved reinsurance security by numerous African insurance companies. Very poor security. 2020. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. During his tenure in the United States Marine Corp SOPAC's Founder, Mr. Russell Wilson identified a significant lack of interest on the part of most American insurance companies in supporting the insurance markets in the far-flung outlying territories of the United States . You also have the option to opt-out of these cookies. Professional liability insurance is required by law in some areas for certain kinds of professional practices, especially medical and legal, where it is more commonly called malpractice insurance. This website uses cookies to improve your experience while you navigate through the website. Pago Pago, American Samoa 96799. Moderate risk factors. Assurance of punctual payment of obligations is small over the long run. - reports which were released prior to the current Best's Financial Report. Mililani, HI 96789-0519. Company Name: Southern Pacific Insurance Corporation Established: 2007 Address: P.O. Uncertain ability to meeto obligations. Moderate risk factors. Extremely strong financial security. Rating Suspended - usually due to insufficient information. In addition, SOPAC supports extensive Surety markets in the United Kingdom (UK) and New Zealand within the parameters of regulatory compliance in those jurisdictions. login or create your free member profile, Strong financial security. https://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com Fagatogo Square Suite 210 Pago Pago, AS 96799 Moderately weak. Currently able to meet obligations. Strong. The group reported declining premiums in 2020 due to the COVID-19 pandemic; however, long-term trends remain positive. The group of insurers includes the following companies: Regulatory action. of operating insurance entities in For more information about Best's Credit Ratings, please But it's run differently than most insurance companies. A.M. Best provides credit rating services for the insurance industry and has been doing so for over 100 years. - Equipment Coverages indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance. Learn more today! Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. This category of insurance includes property coverage for construction equipment, medical diagnostic equipment, fine arts, solar panels and wind turbines, cameras and movie equipment, musical instruments, and a wide variety of other types of property such as: Property in Transit, Property in the Custody of a bailee, Property deemed to be an instrumentality of transportation or communication, such as bridges and radio towers, Mobile medical equipment, and Mobile. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries Best Credit Ratings analyze all aspects of a company to give a well-rounded report card that professionals and consumers alike can access when they want to make an informed decision to determine whether or not they want to work with a company. "https://" : "http://" ); document.write(unescape("%3Cscript src='" + bbbprotocol + 'seal-sanjose.bbb.org' + unescape('%2Flogo%2Fpacific-specialty-insurance-company-630264.js') + "' type='text/javascript'%3E%3C/script%3E")); Pacific Specialty Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. Extremely weak. If you only want specific States or Provinces, then don't include Canada or United States. Week financial security. The following are reports for U.S. entities. QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: The group of insurers includes the following companies: This is a forward-looking opinion about overall creditworthiness in order to pay financial obligations. Good. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. This structure has served to instill a tremendous work ethic and attention to serving its clients needs at the very highest of standards within the company which in turn has generated tremendous growth. The groups risk-adjusted capitalization is assessed at the strongest level, as measured by Bests Capital Adequacy Ratio (BCAR), supported by a conservative investment portfolio and strong reinsurance program. The U.S. property/casualty operating subsidiaries of Fortegra include Lyndon Southern Insurance Company (Wilmington, DE), Insurance Company of the South (Athens, GA), Response Indemnity Company of California (Redondo Beach, CA), Blue Ridge Indemnity Company (Wilmington, DE) and Fortegra Specialty Insurance Company (Fortegra Specialty) (Scottsdale, AZ), and are collectively referred to as Fortegra P&C Group. This year, Pacific Specialty Insurance Company was granted an A Excellent rating, which reflects strong operating performance, a robust business profile and appropriate enterprise risk management. Very weak. Highly vulnerable to adverse economic conditions. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Note: Some of the classifications of the above rating companies are broken down into more levels than illustrated. Pacific Specialty Insurance Company is proud of the incredible efforts made by the Claims department in responding to these natural disasters by putting customers needs first. The groups operating performance has been supported by a long-term trend of strong premium growth and consistent profitability. Rating Services Advanced Rating Search Recent Rating Activity Industry Research Credit Ratings Performance Assessments Country Risk Information Get a Best's Credit Rating Regulatory Information Information Services BestLink Thank You! Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. Fair financial security. Best's Credit Report Sections (Rating Rationale and Commentary). Exceptional security. Grade. Certain protective elements may be lacking. Additionally, the group has reported consistent profitability with generally favorable return metrics. Possibly susceptible to future impairment. Covering the Pacific and Select Markets around the World! AM Best Revises Outlooks to Stable for American Life & Security Corp. Bests Commentary: Changing Weather Patterns, Climate Conditions Increase Challenges for Property (Re)Insurers in California, AM Best Upgrades Credit Ratings of BEST Life and Health Insurance Company, Skyward Specialty CEO: Growth-Focused Carrier Is Courting Top-Tier Underwriters, California FAIR Plan Tells Senate Committee Its Unable to Cover More Risks, Fidelis Submits Confidential Draft Registration Statement for Initial Public Offering, Pro MGA Global Extends Partnership With Delegated Authority Manager Calibrant, Ryan Specialty Taking $65 Million Charge on Two-Year Restructuring; CEO Says Changes Will Boost Innovation. Good security. View additional news, reports and products for this company. Search AM Best's extensive database of life/health, property/casualty insurance companies worldwide and access Best's Credit Ratings, Best's Credit Reports and other key information. links provided below for specific help on search filters and field definitions. 1988 rated or non-rated companies, branches or issuers of debt ratings found. the rating(s) you have requested will be displayed. We will get back to you shortly. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. this structure. These new updates will take effect December 1, 2021. Unlikely to be affected by change. A+ from Standards & Poor's - stable outlook affirmed June 20, 2019. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. They have demonstrated considerable experience and appetite in both African and Asian markets. Because policyholders are the priority. Note: Access to Best's Credit Ratings is available to members. Oldwick //BestWire// - AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- (Excellent) of the U.S.-based operating subsidiaries of Fortegra Financial Corporation (Fortegra) (headquartered in Jacksonville, FL). Southern Pacific Insurance Corporation Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Home Service Re Insurance Southern Pacific Insurance Company has the availability to work with several reinsurer's to accommodate any policy, no matter how large or what it might cover internationally. Marine Cor, Mr we offer full protection designed to fit your exact needs a business that responds in... Specific States or Provinces, then do n't include Canada or United States rating comes a! 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