Major Rating Factors:
Fair reserve development (4.1 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. Deficiencies in the two year reserve development occurred in three of the previous five years and ranged between 15.4% and 21.1%. Fair profitability index (4.5) with modest operating losses during the first six months of 2025. Return on equity has been low, averaging 1.4% over the past five years. Fair overall results on stability tests (2.9) including negative cash flow from operations for 2024 and fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.7% of capital.
Other Rating Factors:
Fair long-term capitalization index (4.4) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2020. Good liquidity (6.9) 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.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Homeowners (69.3%), comm multi (27.0%), fire (0.3%), other (3.4%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (69.8%), common stock (9.5%), cash (4.9%), preferred stock (2.1%), real estate (1.2%), non investment grade bonds (0.9%), other (11.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
39 Broadway
Woodridge, NY 12789
Woodridge, NY 12789
Phone Number
(845) 434-4550
NAIC Number
16489
Website
Largest Affiliates
No affiliate information available.