OTHER NEWS - Nov. 7, 1991
From Times Staff and Wire Reports
Most Insurers Financially Secure, Survey Shows: Standard & Poor’s Corp., a leading rating agency, said a fresh review of nearly 2,600 insurance companies--many scrutinized for the first time--revealed that the vast majority remain financially secure despite the industry’s much publicized problems with investments in risky junk bonds and bad mortgages. Despite the fact that S&P; judged companies responsible for 87% of about $457 billion in U.S. insurance premiums to be “adequate or better” in terms of financial health, more than 500 companies appear vulnerable. Those companies account for only about 3% of the premiums written, or about $7 billion.
