Major Rating Factors:
Poor long-term capitalization index (1.2 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.5) that places pressure on both capital and profits. In 2023 and 2024 the two year reserve development was 24.2% and 60.2% deficient respectively. Weak profitability index (1.0) with operating losses during each of the last five years and the first six months of 2025. Average return on equity over the last five years has been poor at -101.0%.
Other Rating Factors:
Fair overall results on stability tests (4.7) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is high at 3.4% of capital. Excellent liquidity (8.4) with ample operational cash flow and liquid investments.
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (100.0%)
Licensed in:
All states except AK, AR, CA, CO, CT, HI, ID, KS, MA, ME, MN, MT, ND, NJ, NY, SC, SD, TN, VT, WA, WY
Principal Investments:
Investment grade bonds (50.3%), cash (15.0%), other (34.7%)
Corporate Info
Group Affiliation
Clearcover Inc
Investment Rating
--
Company Address
33 West Monroe Street
Chicago, IL 60603
Chicago, IL 60603
Phone Number
(773) 739-8117
NAIC Number
16524
Website
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