Regulatory action. 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 Without insurance, those costs would be compounded by employee medical expenses and missed wages. These descriptions of coverage are abbreviated and are subject to the terms, conditions, and exclusions of the actual policy, which forms the contract between the insured and the insurance company. Highly safe. We will get back to you shortly. 2570, U.S. Virgin Islands under ID No.511292733, The State of Florida as a federally authorized surplus lines insurer, The State of Louisiana under Charter No. 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 It is this rating that buyers of insurance and reinsurance (and some service providers) focus on as it describes the ability of an insurer to meet its obligations (i.e. Represents the AM Best Consolidated financials for the Life, Annuity, and Accident business of this legal entity. Excellent security. Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessors risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. Uncertain ability to meeto obligations. Date: February 24, 2023. Highest safety. Severe economic conditions may effect this company. Very strong. Southern Pacific Insurance Corporation (SOPAC) is a 15-year-old American insurance company with a global focus. Use the (?) Covering one off risks that have been underwritten by other insurers who need to reduce their specific liability. 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. 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. Significant risk, even in a stable economy. 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. 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. Under supervision of insurance regulators. The symbol "u"denotes a Best's Rating that is currently Under Review. Depending on state laws and contract requirements, you may need this policy to cover employees, contractors, freelancers, or even yourself. Currently has the ability to meet obligations. Very strong ability to meet obligations. This web site needs javascript enabled to work properly. Lower than Aaa because long-term risks appear somewhat larger. Fagatogo Square Suite 210 Pago Pago, AS 96799 links provided below for specific help on search filters and field definitions. Primary products offered are Financial in nature such as Bonds and Guarantees of all types, Credit and Political Risk Insurance as well as Marine Insurance and Reinsurance of these classes of business. Extremely strong financial security. Date: February 24, 2023. Avoid this company! About Us. the ability to pay its claims). Extremely poor security. SOPAC is unique in the insurance industry in that it is an employee-owned company. Available coverages, credits, and options may vary by state. The groups total capital increased in 2020, following the creation and initial capitalization of its new surplus lines entity, Fortegra Specialty. Please enable it to use the full functionality of the web site. 14 likes. var bbbprotocol = ( ("https:" == document.location.protocol) ? AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries, AM Best Assigns Issue Credit Ratings to The Cigna Groups New Senior Unsecured Notes. Good. 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. Bests News & Research Service - September 16, 2021 09:39 AM (EDT). A partial listing of recent acceptors appears below: We love the challenge of delivering customer satisfaction, All staff members arevery friendly and knowledgeable. the full functionality of the web site. Adequate security. Please try again later or different method of contacts. This web site needs javascript enabled to work properly. 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 in the South Pacific and Caribbean regions. Adequate ability to meet obligations. *For ratings guidelines and the latest information, access standardandpoors.com and ambest.com. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Questionable ability to meet obligations. Mililani, HI 96789-0519. "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 Risk factors may be somewhat high. Excellent. 150, Anaheim, CA 92807, Copyright 2023 McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. Yes, Pacific Specialty Insurance Company is an insurance company. Date: February 24, 2023. General classes of business include Mercantile; Manufacturing or Processing; Habitational; and Contracting or Servicing. Strong ability ot meet obligations. 42864247F, Florida under Florida Company Code: 44455, as well as the National Association of Insurance Commissioners (NAIC) under Reg. We also use third-party cookies that help us analyze and understand how you use this website. Visit the AM Best Rating Services website for a complete overview of our rating process and methodologies. 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. Under Review Best's Rating, Disclosure Information Form View a list Date: February 24, 2023. 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. Currently able to meet obligations. Extremely strong financial security. 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. This website uses cookies to improve your experience while you navigate through the website. Our top classes of business include apartments, condominiums, dwellings, hotels/motels, lessor's risk, offices, restaurants, grocery stores, shopping centers, warehouses, mini/self storage units, and artisan contractors. Thank You! 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://register.gotowebinar.com/register/639294962347314189, psic@pacificspecialty.com Home About Us Insurance African & Asian Facultative ReInsurance Financial Statement Surety Bond Contact Us Thank you for the Request. AM Best Rating Unit: AMB #: 018014 - American Southern Group. AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries 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. These new updates will take effect December 1, 2021. Thank You! Thank You! That is our promise to you. - Wherever cargo is transported, a wide variety of risks are present throughout the transport chain for the owner of the cargo, ranging from loss and damage resulting from an accident, an act of God, inappropriate handling, theft and robbery and, in the case of marine transport, general average. Join Kim Veeris, National Sales Manager, for a presentation covering the upcoming changes to our Connecticut Homeowners (HO3) and Unit Owners (HO6) programs. SOPAC has achieved 100% year-on-year increases in net written premium for the past 5consecutive years while its Balance Sheet Capital has increased to $261,604,178to support this unprecedented growth. The life/health operating subsidiaries include Life of the South Insurance Company (Athens, GA), Bankers Life Insurance Company of Louisiana (Marksville, LA) and Southern Financial Life Insurance Company (Scottsville, KY), which are collectively referred to as Life of the South Group. PO Box 997868 You need business auto insurance to cover your vehicles. Good security. Because policyholders are the priority. 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. Fair. Use the (?) The financial strength of an insurance company is a very important factor to consider in purchasing life insurance or annuities . The ratings also reflect Life of the South Groups strategic role within the consolidated organization as the provider of credit life and accident and health products. Our relationship with SOPAChas been very satisfactory. This partnership will allow us to increase Africa's reinsurance capacity while at the same time expand our geographical footprint.". 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. Please enable it to use the full functionality of the web site. Comments are requested on the draft updates for Best's Credit Rating Methodology (BCRM) and the criteria procedure "Available Capital and Holding Company Interpretation. SOUTHERN PACIFIC INSURANCE CORPORATION branch Company Number 42864247F Status Active In Good Standing Incorporation Date 18 December 2017 (about 5 years ago) Company Type Business Corporation (Non-Louisiana) Jurisdiction Louisiana (US) Branch Branch of out-of-jurisdiction company Registered Address 113 BLUE RIDGE RD DERIDDER, LA 70634 United States login or create your free member profile, Not rated. Very weak financial security. The ratings reflect Fortegra P&C Groups balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). 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. Best's Credit and Issue Credit Ratings Insurance - Property/Casualty (Operating Company), A.M.A., Agrupacion Mutual Aseguradora (C), Insurance - Composite (Operating Company - Company Consolidation), Insurance - Life, Annuity, and Accident (Operating Company), Insurance - Composite (Operating Company), Insurance - Not Applicable (Holding Company), Other Corporate - Property/Casualty (Holding Company), Insurance - Property/Casualty (Operating Company - Company Consolidated Sub-Group), Insurance - Property/Casualty (Operating Company - Company Consolidation). An unfavorable business environment will probably reduce its ability to meet obligations. Weak. These cookies do not store any personal information. Fax: 714-998-3158, 5515 E. La Palma Ave. Ste. Criteria used:Company Names starting with "A" . The search will not cross filter between Countries and States/Provinces. The business profile maintains favorable diversification by individual product, although the overall book is concentrated moderately in credit property risks. We are pleased to confirm that Southern Pacific Insurance Corporation (SOPAC) has been a reinsurance client of the ION Insurance Group, S.A. since 2013. Please enable it to use the full functionality of the web site. Life Insurance for SBA Loans [Ultimate Guide] Life Insurance Comdex Rankings-Top 130 Rated Companies in 2021. It is mandatory to procure user consent prior to running these cookies on your website. Very strong financial security. . The A.M. Best Ratings represent a cumulative feedback scale of the success and business acumen of over 3,400 companies in 90 countries worldwide. Policies usually include collision and damage coverage as well as coverage for property and personal damage to others. Pacific Specialty Insurance Company is recognized as an industry leader in residential property, motorcycle and personal watercraft coverage. Rating Services Announcements. View AM Best's Covering the Pacific and Select Markets around the World! QBE North America operates as a group of property and casualty insurers and re-insurers that currently receive insurer financial strength ratings of: A from A.M. Best - stable outlook affirmed July 5, 2019. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of a- (Excellent) of Fortegra Indemnity Insurance Company, LTD. (Fortegra Indemnity) (Turks and Caicos). Weak financial security. Thisis a forward-looking opinion about the financial security characteristics of an insurance organization. Poor security. Moving a bit faster. Pacific Specialty Insurance Company has been recognized by A.M. Best as a business that responds congruously in the face of loss. This rating comes despite a claim heavy 2017, due to wildfires, winter storms, and hurricane devastation. 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 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. Unlikely to be affected by change. 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. Companies are often in default. TheFinancial Reports and Presentationssection of the QBE Group site (www.group.qbe.com) contains links to the Group Investor Centre and to the Group Shareholder Centre. AM Best Affirms Credit Ratings of Park Assurance Company. September 16, 2021 09:39 AM (EDT) 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). Credits, and hurricane devastation needed Commercial Insurance capacity to the South Pacific region 5515 E. La Palma Ave..... Risks appear somewhat larger help on search filters and field definitions fax: 714-998-3158, E.! In 90 Countries worldwide a business that responds congruously in the face of.! For a complete overview of our Rating process and methodologies the A.M. Best as a business that responds in! On search filters and field definitions Unit: AMB #: 018014 - American southern Group ability to obligations... 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