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A.M. Best Co.
A.M. Best Places Ratings of Capital District Physicians’ Health Plan, Inc. and CDPHP Universal Benefits, Inc. Under Review With Negative Implications
February 20th, 2009
A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of “bbb” of Capital District Physicians’ Health Plan, Inc. (CDPHP) and the FSR of B+ (Good) and ICR of “bbb-” of CDPHP Universal Benefits, Inc. (UBI) (both of Albany, NY) under review with negative implications. These rating actions follow CDPHP and UBI’s declining underwriting performances reported through third quarter 2008. Furthermore, CDPHP has reported an underwriting loss through September 2008, which is its first underwriting loss since 2003. Additionally, A.M. Best is concerned about the low level of capitalization at UBI. However, A.M. Best does recognize...
Source: Health Business Week (2009-02-20)
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