Insurance Post

Watch out for slip-ups

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Some reinsurers believe the recent downgrades are a reaction to concerns that are industry-wide rather than about individual companies. It has also been suggested that they are an attempt to counter accusations that the failures of companies such as Independent Insurance took the rating agencies by surprise. The rating agencies' methodologies and reliability are being questioned but, as a rating is no more than an opinion, it is difficult to dispute its validity or sustain a case that it is