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PRA’s Ratings Affirmed by A.M. Best
However, Friday’s one notch downgrade to AA+ is unlikely to cause too many problems for the world’s biggest trading bloc. Though a downgrade can sometimes make it more expensive to borrow money on bond markets, a rating of AA+ is still considered very solid.
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S&P Strips EU of Its Top AAA Credit Rating
Best commended the companys conservative reserving practices and legal defense and claims handling capacity. ProAssurance has a strong market presence in the medical professional liability space, legal professional liability line of business and life sciences and medical device liability space that also contributed positively to the ratings. Other attributes that led to the affirmation were ProAssurances enterprise risk management programs and policies. The stable outlook reflects A.M.
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