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Ratings and Complaints terms
Which companies pay claims and keep customers.
Admitted insurerAn insurance company licensed by a state's insurance department, which regulates its rates and forms and backs its claims through the state guaranty fund.AM Best ratingA letter grade from rating agency AM Best on an insurer's ability to pay claims, running from A++ (Superior) down to D (Poor).Guaranty fundA state safety net, funded by assessments on other insurers, that pays covered claims when a licensed insurance company goes insolvent.NAIC complaint indexA score comparing an insurer's share of consumer complaints with its share of premiums; 1.00 is the national baseline and lower is better.