AM Best Awards Farm Bureau Insurance A+ Rating
AM Best announced on June 24, 2022 that Tennessee Farmers Life and Tennessee Farmers Mutual Insurance companies both received an A+ rating this year.
According to the AM Best website, AM Best’s rating scores “summarize our opinion on an insurance company’s ability to pay claims, debts and other financial obligations in a timely manner.” The AM Best award speaks indicatively to how prepared an insurer is to fulfill its financial commitments to its insureds.
“Our team of corporate staff, agents and claims representatives work hard every day on the fundamentals of our business,” said Jeff Pannell, Chief Executive Officer of Tennessee Farmers Insurance Companies. “The financial strength of a company has never been more important, especially during the uncertain economic times we live in today. We’re honored to receive an A+ rating again this year.”
Founded in 1899, AM Best is one of the oldest credit rating agencies in the world and exclusively analyzes insurance companies. AM Best rates companies comprehensively and uses many factors, including how well a company manages risk, what the insurer’s business profile looks like and both qualitative and quantitative metrics.
