Major Rating Factors:
Weak profitability index (2.0 on a scale of 0 to 10) with operating losses during 2021, 2023, 2024 and 2025. Vulnerable liquidity (2.3) as a spike in claims may stretch capacity. Fair long-term capitalization index (3.3) based on fair current risk adjusted capital (severe loss scenarios) reflecting improvement over results in 2023.
Other Rating Factors:
Fair reserve development (3.7) as the level of reserves has at times been insufficient to cover claims. In 2023 and 2024 the two year reserve development was 16.7% and 31.6% deficient respectively. Fair overall results on stability tests (3.3) including weak risk adjusted capital in prior years and negative cash flow from operations for 2025.
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.
L - Past results on our liquidity tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (100.0%)
Licensed in:
FL, GA, IL, IN, MI, WI
Principal Investments:
Investment grade bonds (68.9%), cash (10.4%), common stock (0.9%), other (19.7%)
Corporate Info
Group Affiliation
iQUE Ins Co
Investment Rating
--
Company Address
5969 CattleRidge Blvd
Sarasota, FL 34232
Sarasota, FL 34232
Phone Number
(800) 633-4783
NAIC Number
10998
Website
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