Major Rating Factors:
Fair reserve development (3.9 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. In 2024 the two year reserve development was 41.1% deficient. Fair overall results on stability tests (3.5) including weak risk adjusted capital in prior years and lack of operational experience. The largest net exposure for one risk is conservative at 1.9% of capital. Fair long-term capitalization index (4.0) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2021.
Other Rating Factors:
Excellent overall profitability index (6.9). Excellent liquidity (8.2) 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.
E - Lack of operating experience.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (90.0%), other (10.0%)
Licensed in:
AL
Principal Investments:
Investment grade bonds (43.8%), cash (20.8%), common stock (2.6%), non investment grade bonds (2.3%), other (30.5%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
1605 Main Street
Sarasota, FL 34236
Sarasota, FL 34236
Phone Number
(800) 226-0793
NAIC Number
16957
Website
Largest Affiliates
No affiliate information available.