Major Rating Factors:
Fair reserve development (3.7 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 19.5% and 21.2%. Fair overall results on stability tests (4.9) including fair risk adjusted capital in prior years. The largest net exposure for one risk is conservative at 1.5% of capital. Good long-term capitalization index (5.5) based on good current risk adjusted capital (severe loss scenarios) reflecting some improvement over results in 2021.
Other Rating Factors:
Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent profitability index (8.7).
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Comm multi (30.8%), other (69.2%)
Licensed in:
AL, AZ, CA, CO, DE, FL, GA, KS, LA, MD, MO, MS, NC, NJ, NV, OK, PA, RI, SC, TN, TX, UT, VA
Principal Investments:
Investment grade bonds (88.0%), cash (12.0%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
Four Industrial Way, West
Eatontown, NJ 07724
Eatontown, NJ 07724
Phone Number
(848) 208-2000
NAIC Number
21806
Website
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