OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has changed the Financial Strength Rating (FSR)
to a Non-Rating Designation of F (In Liquidation) from A- (Excellent)
and the Long-Term Issuer Credit Rating (Long-Term ICR) to f from a-
of Merced Property & Casualty Company (Merced) (Atwater, CA),
following the announcement on Nov. 30, 2018, that the California
Insurance Commissioner filed a petition to place Merced into
liquidation. On Dec. 3, 2018, the Superior Court of the State of
California, County of Merced, is expected to enter an Order Appointing
Liquidator.
Merceds impending Order of Liquidation resulted from significant claims
from the Camp Fire in N…
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