Sign In  |  Register  |  About Corte Madera  |  Contact Us

Corte Madera, CA
September 01, 2020 10:27am
7-Day Forecast | Traffic
  • Search Hotels in Corte Madera

  • ROOMS:

AM Best Removes From Under Review With Negative Implications, Withdraws Credit Ratings of Health Alliance Medical Plans, Inc. and Health Alliance–Midwest, Inc.

AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb” (Fair) of Health Alliance Medical Plans, Inc. and its wholly owned subsidiary, Health Alliance-Midwest, Inc. Both companies are domiciled in Champaign, IL and collectively are referred to as Health Alliance. The outlook assigned to these Credit Ratings (ratings) is negative. Concurrently, AM Best has withdrawn these ratings as the companies have requested to no longer participate in AM Best’s interactive rating process. This rating action serves as AM Best’s final rating update for these companies.

The ratings reflect Health Alliance’s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM). In addition, the ratings consider the support provided to the organization by its ultimate parent, The Carle Foundation, as Health Alliance plays an integral role within The Carle Foundation’s integrated health care delivery system.

Prior to the withdrawals, the under review with negative implications status of the FSR and Long-Term ICR for Health Alliance reflected AM Best’s concern about the uncertainty regarding the timing of improvement in risk-adjusted capitalization and a materially higher than expected net loss projected at year-end 2023. The company’s capital increased at year-end 2023, driven by a capital contribution from The Carle Foundation in the form of a surplus note and a favorable change in net unrealized capital gains, partially offset by a significant net loss. AM Best remains concerned about the level of risk-adjusted capitalization and unfavorable operating performance.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.