Major Rating Factors:
Poor long-term capitalization index (0.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (0.1) that places pressure on both capital and profits. In the last five years, reserves (two year development) fluctuated between 56.9% and 166.0% deficient. Weak profitability index (2.0) with operating losses during 2020, 2021, 2022 and 2023. Average return on equity over the last five years has been poor at -46.2%.
Other Rating Factors:
Weak overall results on stability tests (2.0) including weak risk adjusted capital in prior years and weak risk diversification. The largest net exposure for one risk is excessive at 13.9% of capital. Good liquidity (6.1) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (90.0%), other (10.0%)
Licensed in:
VT
Principal Investments:
Investment grade bonds (68.3%), cash (31.7%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
58 East View Lane
Barre, VT 05641
Barre, VT 05641
Phone Number
(802) 479-7802
NAIC Number
11798
Website
Largest Affiliates
No affiliate information available.