Oldwick, N.J.-based A.M. Best Co. has withdrawn several of its rating classifications for a raft of health insurance companies, saying it can no longer justify the ratings based solely on publicly available data.
Specifically, Best said it would issue NR-5 (not formally followed) to the financial strength ratings (FSR) and an “nr” to the issuer credit ratings (ICR) of the companies. The 134 insurers dropped include many health maintenance organizations (HMO) and Blue Cross and Blue Shield (BCBS) plans such as Durham, N.C.-based Blue Cross and Blue Shield of North Carolina.
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