B
Meemic Ins Co
Rating Date
April 2025
NAIC
Classification
Property & Casualty
Risk Adjusted
Capital Ratio #1
2.70
Risk Adjusted
Capital Ratio #2
2.10
Loss
Ratio
82.02%
Total
Assets
333.65M
Capital
80.52M
Net
Premiums
129.08M
Net
Income
-7.18M
My Lists My Alerts
Auto Physical Damage
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
7,687
1,144
8,831
12.95%
22.82%
2022
7,385
1,021
8,406
12.15%
23.10%
2021
7,189
935
8,124
11.51%
22.81%
2020
6,735
1,337
8,072
16.56%
21.51%
2019
8,856
1,868
10,724
17.42%
22.66%
2018
9,039
1,587
10,626
14.94%
21.92%
Commercial Auto Liability
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
7
1
8
12.50%
47.27%
2022
7
2
9
22.22%
45.41%
2021
7
2
9
22.22%
44.40%
2020
6
3
9
33.33%
42.42%
2019
9
4
13
30.77%
44.33%
2018
6
2
8
25.00%
44.16%
Commercial Multiple Peril
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
29
8
37
21.62%
38.64%
2022
22
5
27
18.52%
39.39%
2021
23
6
29
20.69%
40.41%
2020
15
22
37
59.46%
48.09%
2019
25
11
36
30.56%
43.30%
2018
17
7
24
29.17%
41.13%
Homeowners & Farmowners
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
1,790
862
2,652
32.50%
36.96%
2022
1,336
619
1,955
31.66%
37.08%
2021
1,545
780
2,325
33.55%
39.17%
2020
1,628
813
2,441
33.31%
35.42%
2019
1,757
882
2,639
33.42%
35.34%
2018
1,262
741
2,003
36.99%
34.35%
Other Liability: Claims Made
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
0
0
0
0.00%
74.81%
2022
0
0
0
0.00%
73.22%
2021
0
0
0
0.00%
79.01%
2020
0
1
1
100.00%
80.13%
2019
0
0
0
0.00%
77.47%
2018
0
0
0
0.00%
77.10%
Other Liability: Occurrence
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
54
20
74
27.03%
16.34%
2022
58
23
81
28.40%
11.13%
2021
64
22
86
25.58%
18.93%
2020
45
9
54
16.67%
20.93%
2019
70
22
92
23.91%
16.90%
2018
70
19
89
21.35%
11.94%
Private Passenger Auto Liability
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
779
728
1,507
48.31%
44.64%
2022
780
704
1,484
47.44%
46.15%
2021
860
781
1,641
47.59%
46.87%
2020
974
894
1,868
47.86%
43.90%
2019
1,410
1,361
2,771
49.12%
42.09%
2018
1,498
1,265
2,763
45.78%
39.60%
Workers' Compensation
Year
Claims Received and Closed
Claims Closed without Payment
Total Claims Received and Closed
Percentage of Claims Closed without Payment
Percentage of Claims Closed without Payment
National Average
2023
6
2
8
25.00%
35.70%
2022
7
2
9
22.22%
37.14%
2021
7
2
9
22.22%
35.46%
2020
7
3
10
30.00%
33.86%
2019
8
3
11
27.27%
34.01%
2018
8
2
10
20.00%
32.34%