-13-
UDI examined petitioner's 1990-93 annual statements. It did
not adjust the amount of unpaid losses and loss adjustment
expenses that petitioner reported.
Estimates of unpaid losses by the medical malpractice
insurance industry (both physician-owned and commercial,
multiline carriers) and petitioner were similar as shown below:
Estimates of Unpaid Losses For 1992 and Earlier
As of Medical malpractice Percentage Percentage
Dec. 31 insurance industry of original Petitioner of original
1992 $21,879,689,000 -- $61,971,100 --
1995 17,709,112,000 81 48,931,000 79
H. Petitioner's Financial Condition
1. A.M. Best Ratings
A.M. Best (Best) rates the financial condition of property
and casualty insurers each year. From 1984 to 1992, Best gave
petitioner the following ratings:11
11 A.M. Best describes its ratings as follows:
a. A (Excellent). Assigned to companies which in
Best's opinion have achieved excellent overall performance
when compared to the norms of the property/casualty
insurance industry. A rated insurers generally have shown a
strong ability to meet their policyholder and other
contractual obligations.
b. B+ (Very good). Assigned to companies which in
Best's opinion have achieved very good overall performance
when compared to the norms of the property/casualty
insurance industry. B+ rated insurers generally have shown
a very good ability to meet their policyholder and other
contractual obligations.
c. B (Good). Assigned to companies which in Best's
opinion have achieved good overall performance when compared
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