Choosing an Insurer

Posted on behalf of Rizk Law on Sep 21, 2021 in Firm News

As leadership, ownership and holdings of insurance companies change, so do insurers. Yesterday’s great insurer may be a lousy insurer today. Of course, an insurer’s leaders and owners can impact how effective and honest an insurer will be. Most consumers are not aware, however, that insurers make most of their money on investments, not the business of insurance. Therefore, how well or how poorly an insurer’s investments have been returning lately can hugely impact an insurer’s claims decisions.  You can check an insurer’s financial ratings through the following companies:

1.       Standard & Poor’s (212) 438-2400 

2.       AM Best (908) 439-22-000

3.       Moody’s (212) 553-0377 www.moody’

4.  (800) 289-9222     

5.       Fitch Inc. (800) 893-4324

Keep in mind that an insurer’s performance may differ across the US. For that reason, it’s also important to check locally for the volume of complaints against a particular insurer in your state. Oregon’s Division of Financial Regulations keeps taps on such complaints. To find out more, go to or call (503) 947-7984 or toll free at (888) 877-4894.