Insurer Financial Strength

Covi policies are underwritten by NZI. NZI is 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 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)

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.