AM Best downgrades Applied Underwriters’ NAC to A- amid CDI conflict
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AM Best downgrades Applied Underwriters’ NAC to A- amid CDI conflict

Kyoung-son Song
January 11, 2023
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AM Best has downgraded the financial strength rating of Applied Underwriters’ North American Casualty (NAC) group to A- (Excellent) from A (Excellent), and its long-term issuer credit rating to a- (excellent) from a (Excellent).

In a separate statement, parent company Applied attributed the rating to the “slow resolution” of its conflict with the California Department of Insurance (CDI), which has been ongoing for more than three years.

NAC

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Kyoung-son Song
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