Insurer Financial Strength

Covi policies are underwritten by Lumley, a business division of IAG New Zealand Limited (IAG).

IAG has received a financial strength rating of AA- from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.

A rating of AA- means IAG has a ‘very strong’ claims-paying ability, as you can see in the scale below.

The ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com.

THE RATING SCALE IS:

• AAA (Extremely Strong)
• AA (Very Strong)
• A (Strong)
• BBB (Good)
• BB (Marginal)
• B (Weak)
• CCC (Very Weak)
• CC (Extremely weak)
• SD (Selective Default)
• D (Default)
• R (Regulatory Supervision)
• NR (Not Rated)