BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
OLDWICK, New JerseyRating agency A.M. Best Co. Inc. has downgraded the financial strength rating of Dublin, Republic of Ireland based-Primary Insurance Co. Ltd.
In a statement, Best said that the downgrade reflects the deterioration in Primary's financial performance, caused partly by reserve strengthening in its commercial small to medium-sized account in 2006. Performance has also been affected by higher-than-anticipated reinsurance costs, further softening in PICL's main lines of business and high expenses caused by a reduction in the level of business written, the rating agency said.
The ratings remain under review, while Best assesses the impact of actions taken by Primary's parent company, Hamilton, Bermuda-based Primary Group Ltd. "If PGL provides additional explicit support, then PICL may be able to recover a secure rating. However, in the absence of any action from PGL, a further downgrade is likely," Best said.