Major Rating Factors:
Fair reserve development (4.0 on a scale of 0 to 10) as the level of reserves has at times been insufficient to cover claims. In 2021 and 2024 the two year reserve development was 15.4% and 21.1% deficient respectively. Fair profitability index (4.3). Fair overall results on stability tests (3.0) including negative cash flow from operations for 2025 and fair risk adjusted capital in prior years. The largest net exposure for one risk is acceptable at 2.6% of capital.
Other Rating Factors:
Good long-term capitalization index (5.1) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2020. Good liquidity (6.6) 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.
Principal Lines of Business:
Homeowners (82.3%), comm multi (14.1%), fire (0.3%), other (3.3%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (67.2%), common stock (7.0%), cash (5.6%), preferred stock (2.5%), real estate (1.0%), other (16.6%)
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
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