Farmers Mutual Hail Insurance Company of Iowa currently has an AM Best Rating of A. An A rating is assigned to companies that have an excellent ability to meet their ongoing obligations to policyholders.
AM BEST RATING: A (Excellent) Financial Size Category: IX ($250 million to $500 million)
What is a Best's Rating? A Best's Rating is an independent third-party evaluation that subjects all insurers to the same rigorous criteria, providing a valuable benchmark for comparing insurers, regardless of their country of domicile. Such a benchmark is increasingly important to an international market that looks for a strong indication of stability in the face of widespread deregulation, mergers, acquisitions, and other dynamic factors.
Why is a Best's Rating Important? For insurance companies, a Best's Rating is a strategic tool that can enhance consumer confidence in the organization's stability, as well as its attractiveness to investors. A rating also enhances an insurer's credibility with reinsurers. A valuable resource, particularly for insurers entering new markets.
Insurance professionals depend on Best's Rating to determine the financial strength and operation of specific insurers, to evaluate prospective reinsurance accounts, to compare company performance and financial condition, and more. A Best's Rating can influence an agent's selection of plans to market. In recent years, ratings have become an increasingly important factor in consumers' decisions to purchase insurance.
FMH is very proud of it's A rating with AM Best. We continue to focus on providing the superior products and customer service that has earned us our "excellent" A rating.