Major Rating Factors:
Poor long-term capitalization index (0.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). A history of deficient reserves (1.3) that places pressure on both capital and profits. The one year reserve development was deficient in three of the last five years by between 15.6% and 62.4%. Weak profitability index (1.9) with operating losses during each of the last five years and the first six months of 2025. Average return on equity over the last five years has been poor at -22.6%.
Other Rating Factors:
Vulnerable liquidity (1.7) as a spike in claims may stretch capacity. Weak overall results on stability tests (0.0) including weak risk adjusted capital in prior years and negative cash flow from operations for 2024. The largest net exposure for one risk is excessive at 33.6% of capital. Strengths include potentially strong support from affiliation with Physicians Ins A Mutual Co.
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.
G - Fast asset or premium growth.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (97.1%), other (2.9%)
Licensed in:
VT
Principal Investments:
Other (100%)
Corporate Info
Group Affiliation
Physicians Ins A Mutual Co
Investment Rating
--
Company Address
601 Union Street
Seattle, WA 98101
Seattle, WA 98101
Phone Number
(800) 962-1399
NAIC Number
15738
Website
Largest Affiliates