Elite Insurance expects to be rated by end of Q2
Provider reversed decision on ratings due to the "demise of other unrated insurers".
Elite Insurance is aiming to gain an official credit rating by the third quarter of 2014.
The provider had previously stated that a rating was unnecessary, however earlier this year announced its intention to gain a rating given the "pressure" on unrated carriers.
It began working with AM Best in November 2013 and, while the company had originally planned to complete the process by the end of the first quarter of this year, Jason Smart, chief executive at Elite said: “It is now clear that this
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