s your insurance company financially sound? Is the policy you are buying worth the paper it is written on? What have you done recently to check the financial condition of your insurance carrier?

A review of the financial status of your insurance carrier should be routine and thorough. State insurance regulators police the financial stability of insurance companies and may provide useful information. However, by the time regulators document the problem, it could be too late for you.

Bear in mind that some of your coverage, such as liability policies written on an occurrence basis, may be needed years down the road. You may face serious future problems if you are dependent upon an insurance company which fails financially, even several years after your policy has expired.

We recommend that you routinely ask your insurance representative for data on the financial well-being of your insurance carriers. Such data is readily available.

Best Insurance Reports and Best's Key Rating Guide, published by A.M. Best Company, are excellent sources for determining current financial strength of insurance companies. McNeary will gladly share the most current financial rating information we have.