Insurance-Rating Bureaus are companies that provide ratings and analysis of insurance companies and their products. These bureaus collect data on insurance companies and use it to evaluate their financial stability, claims-paying ability, and overall performance. The ratings provided by these bureaus are used by insurance companies, consumers, and regulators to make informed decisions about insurance products and companies. Insurance-Rating Bureaus are responsible for: - Collecting and analyzing data on insurance companies - Evaluating the financial stability and claims-paying ability of insurance companies - Providing ratings and analysis of insurance products and companies - Providing information to insurance companies, consumers, and regulators Insurance-Rating Bureaus play a crucial role in the insurance industry by providing objective and independent evaluations of insurance companies and their products. These evaluations help to ensure that insurance companies are financially stable and able to pay claims, which is essential for protecting consumers.