Financial Strength definition

Financial Strength. Rating shall mean, as of the date of determination, the Erie Insurance Exchange Financial Strength Rating by A.M. Best Company, Inc. or its successors. Foreign Lender shall mean any Lender that is organized under the Laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.
View Source

Examples of Financial Strength in a sentence

  • Insurance carriers providing coverage required herein must be licensed to conduct business in the State of Florida and must possess a current A.M. Best’s Financial Strength Rating of A- Class VIII or better.

  • Insurance carriers providing coverage required herein, must be licensed to conduct business in the State of Florida and must possess a current A.M. Best’s Financial Strength Rating of A- Class VIII or better.

  • Such company shall be an insurer (or, for qualified self insurers or group self insureds, a specific excess insurer providing statutory limits) with an A.M. Best Financial Strength Rating of "A-" or better and with an A.M. Best Financial Size Category of Class V or larger.

  • Best Manual or hold a ▇▇▇▇▇’▇ Investors Service Financial Strength of “Aa3” or better.

  • Each company issuing policies required under Sections 10.1. must: (a) be licensed to transact business in the State of Florida; and, (b) have an AM Best Financial Strength rating of “A-” or above.

  • Insurance carriers providing coverage required herein must be licensed to conduct business in the State of Florida and must possess a current A.M. Best’s Financial Strength Rating of “B or better.” No changes are to be made to these specifications without prior written specific approval by County Risk Management.

  • Has an A.M. Best Company's Financial Strength Rating equal to or below B++ at the inception of this Contract.

  • All insurance shall be with an insurance company with a rating from AM Best Financial Strength Rating of A- or better and a Financial Size Category of VII or better.

  • Insurance carriers providing coverage shall be authorized and/or eligible to do business in the State of Florida and shall possess a current A.M. Best’s Financial Strength Rating of A- Class VIII.

  • It is recommended that coverage be with a company or companies having both a Financial Strength Rating of “A” or better and Financial Size Category Class of “VII” or better from A.M. Best Company, Inc.

Related to Financial Strength

  • GM Financial means AmeriCredit Financial Services, Inc. d/b/a GM Financial.

  • Financial Monitoring Report or “FMR” means each report prepared in accordance with Section 4.02 of this Agreement;

  • Financial Instrument” shall mean the Financial Instruments under the Company’s CIF license which can be found in the document “Company Information” on the Website. It is understood that the Company does not necessarily offer all the Financial Instruments which appear on its CIF license but only those marketed on its Website from time to time.

  • Financial literacy means personal financial planning and education.

  • financial holding company means a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013;