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Article: A.M. Best Downgrades Ratings of American Physicians Assurance Corp, APSpecialty Insurance Corporation and Insurance Corporation of America.
- Article from:
- Business Wire
- Article date:
- January 29, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
OLDWICK, N.J.--(BUSINESS WIRE)--Jan. 29, 2004
A.M. Best Co. has downgraded the financial strength ratings to B+ (Very Good) from B++ (Very Good) of the American Physicians Assurance Corp (APA) and APSpecialty Insurance Corporation (APSpecialty). Additionally, A.M. Best has downgraded the financial strength rating to B- (Fair) from B++ (Very Good) of Insurance Corporation of America (ICA). APA, APSpecialty and ICA are wholly-owned subsidiaries of American Physicians Capital Inc. (ACAP) (NASDAQ: ACAP). All four companies are located in East Lansing, Michigan. The ratings of APA, APSpecialty and ICA will remain under review with negative ...