Major Rating Factors:
Fair overall results on stability tests (3.5 on a scale of 0 to 10) including negative cash flow from operations for 2024. The largest net exposure for one risk is conservative at 1.4% of capital. Strong long-term capitalization index (8.3) based on excellent current risk adjusted capital (severe and moderate loss scenarios) reflecting improvement over results in 2020. Ample reserve history (7.0) that can protect against increases in claims costs.
Other Rating Factors:
Excellent profitability index (7.9) with operating gains in each of the last five years. Superior liquidity (9.8) with ample operational cash flow and liquid investments.
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.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (82.1%), other (17.9%)
Licensed in:
SC
Principal Investments:
Investment grade bonds (80.8%), cash (8.5%), non investment grade bonds (5.2%), common stock (5.2%), preferred stock (0.3%)
Corporate Info
Group Affiliation
Cover Me Ins Agency Of NJ Inc
Investment Rating
--
Company Address
610 West Saint Georges Avenue
Linden, NJ 07036
Linden, NJ 07036
Phone Number
(908) 587-2500
NAIC Number
11197
Largest Affiliates