With the news continuously swirling around negative stories about Wall Street, corporate corruption and excessive executive pay, it is refreshing to have a partner of HPM Insurance earn recognition from Forbes as one of America's most trustworthy companies.
The agency partner recognized was Cincinnati Financial.
Cincinnati Financial was selected after Forbes turned to GMI Ratings (GMI), an independent financial analytics company. Per the Forbes article, "GMI's quantitative and qualitative analysis looks beyond the raw data on companies' income statements and balance sheets to assess the true quality of corporate accounting and management practices."
For the specifics on how GMI evaluated each company, please refer to Forbes. In summary, GMI looked at more than 8,000 companies that are traded on the U.S exchange. Every three months, it assigned each company an accounting and governance risk score, or AGR. The analytics penalized companies for unusual or excessive executive compensation, high management turn-over, and substantial insider trading as these practices encourage a focus on short-term results. The rational of looking at negative practices is that it can impact the long-term success of a company as much as positive events.
According to Forbes, the highest scoring large-cap company was Cincinnati Financial, operating through the Cincinnati Insurance Companies, with an AGR score of 97.
"We are excited to have an agency partner recognized nationally as one of the most trustworthy companies," said Lyle Fulkerson, President and CEO of HPM Insurance. "In keeping with our role as a trusted adviser, it is a testament to our clients that we want to do business with companies that have integrity and a long-term vision."
Holt Proctor McBriarty Insurance agency wants to congratulate Cincinnati Insurance Companies for this this prestigious recognition.