Major Rating Factors:
Fair reserve development (5.0 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Good overall profitability index (5.3) despite operating losses during 2023. Excellent expense controls. Good liquidity (5.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Other Rating Factors:
Good overall results on stability tests (6.1) despite negative cash flow from operations for 2024. Stability strengths include good operational trends and excellent risk diversification. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios). Moreover, capital levels have been consistent in recent years.
Stability Factors:
F - Negative cash flow.
L - Past results on our liquidity tests.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
GA, IN, KY, MD, MI, NC, SC, TN, VA, WV
Principal Investments:
Investment grade bonds (90.9%), common stock (5.9%), cash (2.1%), other (1.1%)
Corporate Info
Group Affiliation
Harford Mutual Ins Group Inc
Investment Rating
--
Company Address
200 North Main Street
Bel Air, MD 21014
Bel Air, MD 21014
Phone Number
(502) 894-8484
NAIC Number
16273
Largest Affiliates