Major Rating Factors:
Poor long-term capitalization index (0.4 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (2.8) that places pressure on both capital and profits. In 2023 and 2024 the one year reserve development was 21.8% and 67.0% deficient respectively. Weak overall results on stability tests (2.6) including weak risk adjusted capital in prior years and weak results on operational trends.
Other Rating Factors:
Fair profitability index (4.5) with operating losses during 2020 and 2021. Average return on equity over the last five years has been poor at -0.9%. Excellent liquidity (7.0) 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.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
AZ, GA, HI, MD, NJ, NY, PA, VA
Principal Investments:
Investment grade bonds (45.9%), cash (28.2%), common stock (11.8%), other (14.1%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
400 Rella Blvd
Suffern, NY 10901
Suffern, NY 10901
Phone Number
(845) 363-0500
NAIC Number
29998
Website
Largest Affiliates
No affiliate information available.