Bouzluita, Raja; Young, Arthur J. - In: Journal of Insurance Issues 21 (1998) 1, pp. 23-34
In 1991, the A.M. Best Company changed the schedules and procedures for assigning ratings to property-liability insurers. An explanation of this change is of interest to consumers, regulators, and management. This study uses ordered probit to test for a downshift in the average ratings. The...