Major Rating Factors:
Fair profitability index (3.9 on a scale of 0 to 10) with operating losses during 2020, 2021, 2022 and 2023. Fair overall results on stability tests (4.3) including negative cash flow from operations for 2024. Strengths include potentially strong support from affiliation with National Chiropractic Mutual Holding Co. The largest net exposure for one risk is conservative at 1.7% of capital. Good long-term capitalization index (6.8) based on good current risk adjusted capital (severe loss scenarios). Over the last several years, capital levels have remained relatively consistent.
Other Rating Factors:
History of adequate reserve strength (6.7) as reserves have been consistently at an acceptable level. Good liquidity (6.9) with sufficient resources (cash flows and marketable investments) to handle a spike in claims.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Med mal (36.4%), other (63.6%)
Licensed in:
All states except ID, ME
Principal Investments:
Investment grade bonds (94.5%), cash (3.5%), other (2.0%)
Corporate Info
Group Affiliation
National Chiropractic Mutual Holding Co
Investment Rating
--
Company Address
14001 University Avenue
Clive, IA 50325
Clive, IA 50325
Phone Number
(515) 313-4500
NAIC Number
11127
Website
Largest Affiliates