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What our underwriter’s financial strength rating means

Why does “AA+” matter? If you’ve read communications from PMP before, you might have seen us mention that our policies are backed by underwriters who are rated AA+ for financial strength. We’re proud to be able to say this. But what does it mean? And in particular, what does it mean for a PMP customer?

If you ever face a claim and need the protection of your medical indemnity policy, underwriters will provide that protection. So their ability to protect you financially is critical. Standard & Poor’s (S&P), an agency that rates everything from countries to companies, uses a “financial strength” rating for insurers, which is an opinion about whether an insurer can “pay under its insurance policies and contracts in accordance with their terms.”

Our underwriter Berkshire Hathaway International Insurance Limited (BHIIL) scores AA+ on this rating. AA is the second-highest possible rating, meaning BHIIL has “very strong financial security characteristics, differing only slightly from those rated higher.” The “plus” means what you’d expect it to mean: that BHIIL has a high standing within the AA category.

For PMP customers, BHIIL’s AA+ rating gives you the peace of mind that if you need to use it, your medical indemnity policy is backed by recognised financial strength.


S&P Insurer Financial Strength Ratings

AAA Extremely strong
AA Very strong BHIIL
 A Strong
BBB Good
BB Marginal
B Weak
CCC Very weak
CC Extremely weak
R Under regulatory supervision
SD Selective default
NR Not rated


*Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.

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