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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

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Financial rating for Lloyd's London medical insurance

originally posted: 3/18/2011

Q: What is the financial rating of Lloyd's of London medical insurance?

A: Lloyd's London is not actually a single entity insurance company so a direct comparison with the third party rating services may be misleading. Lloyd's is the world's leading insurance market where individual underwriters accept risks on behalf of syndicates of individual and corporate members whose resources provide the security behind Lloyd's policies. Policies are issued through a number of syndicates which may have varying financial attributes.

Much of Lloyd's U.S. business is written through coverholders like HCC Medical Services that is profiled on Freedom Benefits insurance exchange. Products include Altas Medical Insurance, Atlas Medical Professional Insurance, Citizen Secure Insurance, Student Secure Insurance, Reside Prime Worldwide Medical Insurance, and international term life insurance. These products are all considered to be among the best choices for international medical insurance. HCC's product selection tool is available to help select the best fit plan. The Web selection and enrollment system also indicates which Lloyd's syndicate is responsible for each product.

A.M. Best Company affirmed its "A" rating for Lloyd's financial strength in 2010, citing its strong capitalization, good financial flexibility, excellent operating performance and global business profile. The rating report refers to losses related to the Gulf of Mexico that may affect the company's 2010 performance.

Fitch Ratings issued an "A+" rating for Lloyd's in 2010.



More resources:

A.M. Best Methodology for rating Lloyd's Syndicates