S&P Lowers Med Mal Insurer's Ratings
NU Online News Service, June 6, 3:01 p.m. EDT? Standard & Poor's Ratings Services in New York yesterday lowered its counterparty credit and financial strength ratings for Princeton Insurance Co., downgrading the Princeton, N.J.-based medical malpractice insurer to Bpi from BBBpi.
The rating firm said it took the action because of Princeton's adverse reserve development in 2002 and 2001, which significantly affected operating performance and capitalization.
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