European Stars and Stripes (Newspaper) - June 30, 1991, Darmstadt, Hesse Sunday june 30, 1991 the stars and stripes b Page 15 a psf a am j a ski a a til a a amp of Dollar watch shown below Are the highest Dollar Exchange rates for the week of june 23-29 compared with doljar1 rates for the same period one year and five years ago. British Pound one Pound would Cost you $1.62 $1.73 i $1.50 1991 j 1990 1986 German Mark one Dollar would buy you 1.77 1-65 2.25 1 1991 1990 1986 military Exchange Rale. A turkish lira one Dollar would buy you 4,317 2,655 1991 1990 a a \ 682 1986 a a a a is amp Dollar jumps to 1.81 Marks the Dollar finished stronger last week breaking through the 1.80-Mark Point in late european trading Friday on the strength of improved . Economic performance. A a a a a a a the Dollar reached its High Point for the week 24 hours after a Commerce department report that consumer spending in the states Rose 1.1 percent in May after a decline in april. White House officials said the spending data and an accompanying report showing incomes Rose by 05 percent. Age Points last month signal the end of the recession. A. Currency traders responded by driving the Dollar up 2 pfennig Friday afternoon to 1.81 Marks. 1 the Dollar also improved against the British Pound. At midweek a Pound was Selling for $1,64 in Europe but late Friday Sterling had. Fallen to $1,624. Julian Callow economist with Chase investment Bank in London said the Dollar has More room to Rise but a traders will want More hard evidence that the . Icon omy is recovering before bidding. The Dollar up further. A. A one Factor weighing against a More rapid Dollar Rise is the possibility that the worlds Central Banks including the Federal Reserve will intervene to keep. The Dollar in Check. 1 . Officials done to want the Dollar to skyrocket for fear that exports will become too expensive Hurtig the nations Trade deficit. ,. Nevertheless Callow said he sees the Dollar reaching 1.90 Marks before the end of year. A. A a. Military Exchange rates through monday Are a 1.77 Mark sin Germany. In England one Pound is Selling for $1,66. 1 a. A a a. The stars and stripes by Randy Mcciain financial writer Consumers arc .becoming5 increasingly a sceptical about buying life health and property insurance without first investigating whether their insurer is on solid financial ground Industry observers say 1 in response several private firms Are increasing services for Consumers to get Quick Access to reports on whether it is Safe to do business with a particular insurance company. Among the lop firms in the insurance rating Field Are Standard amp poor s m new York City the . Best co. Of Oldwick n.j., and Weiss research inc. Of West Palm Beach fla. Standard amp poor a recently expanded the number of insurance companies it rates from 450 to More than 2,000. Ratings reports on As Many As three companies will be provided to Consumers free of charge a company spokesman said. . Best and Weiss research provide ratings Over the Telephone or by mail for a fee. A a a Quot a. A a a a. A a a Robert Crowe professor of finance and insurance at american College in Bryn mawr pa., said savings and loan Bank and insurance company failures Are fueling Consumers interest in playing the ratings game. 1. A a it a a carry Over from the savings and loan crisis a Crowe said. A that Shook Peoples Confidence m All financial the failure of executive life insurance co. Of California which was declared insolvent and seized two months ago by state regulators has added to Consumers jitters. R a that Case created a sort of snowball effect that has gotten people worried a Crowe said. -. A. A a a a a a a a. There is often a difference of opinion among the major firms that rate insurance companies but Crowe said Consumers should feel at ease buying a policy from any company that gets top ratings from at least two of the rating agencies. A the insurance Industry As a whole is in pretty decent shape a the professor added. A a there a no reason to go below the top rating.�?�. Top rating for Standard and poor a is aaa while am. Bests top Mark is a plus. Weiss research Stop Mark is a a highly opinions differ on which of the three ratings companies is most reliable Sec accompanying Story but Here is a capsule report on what each company otters to the Public and How much the information costs. A. A. A a a a. A. Standard and poor a this new York based company provides two sets of. Ratings the most detailed analysis called a claims paying ability rating is performed Tor about 450 insurers. It is based on financial statements filed with state insurance regulators As Well As follow up interviews and other background Joseph m. Belth a Protessor of insurance at Indiana University and cd. Tor i i the monthly insurance forum newsletter thinks there Are some important filter fences to make note of when dealing with ratings general Belth says it is easier Lor an insurance company to get a High Mark from . Best co. Than Tom either Standard tic poor s or Weiss research . A a Best. Loosened its ratings requirements in 1976,.and that substantially increased the number of firms Able to gel a lop rating of a plus he said. A was Long As Best had a monopoly it could do As it pleased Quot Belth wrote m a recent Issue of the insurance f Orum. Quot i however other firms Are now rating insurance companies and the newcomers requirements appear More stringent than Best As. Evidence Belth pointed to a. Study he did last fall in which he examined kid companies rated he both . Best and Standard a. total of 5.1 of the companies got much higher a Marks from Best. Sometimes a scoring better by two letter grades. Only 11 of the 100 companies were rated lug Herby Standard a poor in my opinion. bite the Bullet and make significant changes to restore credibility to its ratings and retain position the professor a. Weiss research on the Otlyn r wind appears to be too Tough on nfsfirntu1 companies Belth said. A for example 74 companies rated a plus by Best Are rated g plus minus by the professor wrote in the december Issue of the insurance forum. Belth said the difference to ratings is sometimes too big to be believed and that May cause Consumers to turn away from Weiss As a source of Rylor. Mutton. . Information provided by the insurance companies themselves. Ratings Range from the top Mark of aaa to a Low of hey Are published once a year. Of More interest to. Consumers , is a new ratings system created tins Spring Tor 2.000 companies known As a Quot qualified solvency rating Quot the Marks Are intended to give Consumers a picture of whether it is smart to do business with a particular firm. Ratings arc bbb above average but average and by below average William p. O Neill vice president of the insurance ratings service said the company will divulge ratings on three companies of charge or,.Consumers can order am annual listing of All 2.000 ratings Tor $75. To Contact Standard a poor Scall 212 208-1524 or write the company at .26 Broadway new York . 10004. Of Neill said ratings Are also generally available via libraries in the United states and a Ron insurance agents Selling policies in the Field. . Best this firm considered the Dean of insurance ratings agencies gives Marks every year to 3,000 life health property and casualty insurance Cointa Niesi Best publishes an annual directory listing All us ratings but that Sells for a Steep $505. Of greater interest to Consumers is the Best Advance company reports which can be purchased form a div dual companies forms 15.christina. Stein spokeswoman Lor . Best said Consumers should generally do business with the highest rated insurers unless there is a complicating , such As a disability that makes a customer a bad risk Tor a particular policy. Best ratings Range plus to c minus. Quot a a a a a a a a a a a a. Flier Are also instances m which Best a refuses to Issue a rating. One example is when an insurer tails to meet min Ami standards to rate even a minus rating. In. That Case the insurance company is assigned to a category Knower As na-7, a Stem said. A. A a a. A for More information Contact . Best co. Customer service dept., am Best Road. Old icon j 18858, or Call 90s 419-2200. Weiss research i his West Palm Beach fla firm has been Raisig insurers Only since 1989. about 1,75 companies in categories a to i. J lie Quot of r rating is reserved Tor companies under the supervision regulatory a Oltie als. A a a a a a a a. A for $15iconsumers a two Page report tin any insurance company the choose for $45, Eon Sui Iris can buy an 18-Page report which goes into much a greater detail on the Limm Cial health in vestments and management and each in surer. A a. A. A a. A a a a. A sue ,.director of Communia a Lions with Weiss research said interest a in insurance reports has skyrocketed in recent Mont Lis. A a in the past year we be. Gone trom having 12 people in the company to 44, we re a Fielding As Many As a thousand Calls a Day a a a a she said. Fair More information write Weiss safety ratings. 220 1 n. Florida Mango , w est Palm Beach. I la 11400 or. Call 407 684-8100 computer maker Wang to Lay off 4,000 Lowell mass. Up Wang laboratories inc. Said Friday it will Lav Oft As Many As 4,000 employees worldwide in. A restructuring linked to the comply toys new Alliance with ism. The. Struggling computer maker said it would Cut its work Force by Between _100 and 4,000 Over a the next several a months. About half of the people slated to receive Pink slips Are in massachusetts., Wang said it is. Reorganizing its Structure based on a a new strategic directions and its agreement with International business machines corp. The worlds largest computer maker. A. A a a a a i his new and our new Alliance with ism enable Wang to Market locus that is essential to our future to reduce our Cost Structure significantly and to improve our product and service ,&Quot said Richard Miller Wang s chairman and chief a executive officer Wang and ism. Announced an agreement june 18. Under which the Lowell based company will Market some of ism s products a return Lor infusion of capital. A a ism. Based m Arnink no a said that it would buy $25 million of wants debt instruments and that another1 $75 million in in Ancog could be provide of. Cgeorge idling an analyst Willi Merrill Lynch predicted Al that time the Alliance would Lead to layoffs at Wang.1. A a Wang still has t returned to Profita. Ability Quot idling said. 1 he company had loss of $71 Mil lion for the nine Marci ii. In the last two years it has Cut its w Ork halt to j7, j i f trom 14, i. A a Quot a
