Major Rating Factors:
Poor long-term capitalization index (2.8 on a scale of 0 to 10) based on fair current risk adjusted capital (severe loss scenarios). Fair reserve development (4.3) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2021 the two year reserve development was 20.4% and 612.1% deficient respectively. Good overall profitability index (5.8) despite operating losses during 2022.
Other Rating Factors:
Good overall results on stability tests (5.9) despite weak risk adjusted capital in prior years and negative cash flow from operations for 2025. Stability strengths include good operational trends and good risk diversification. Excellent liquidity (7.2) 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.
F - Negative cash flow.
Principal Lines of Business:
Med mal (100.0%)
Licensed in:
NY
Principal Investments:
Investment grade bonds (75.9%), common stock (5.9%), cash (4.0%), preferred stock (1.5%), other (12.8%)
Corporate Info
Group Affiliation
None
Investment Rating
--
Company Address
77 Goodell Street
Buffalo, NY 14203
Buffalo, NY 14203
Phone Number
(646) 808-0600
NAIC Number
42544
Website
Largest Affiliates
No affiliate information available.