Major Rating Factors:
Poor long-term capitalization index (2.7 on a scale of 0 to 10) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. Weak overall results on stability tests (0.9) including fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 21.0% of capital. History of adequate reserve strength (6.4) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Excellent profitability index (8.4) with small operating losses during 2020. Excellent liquidity (7.3) with ample operational cash flow and liquid investments.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
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 (98.5%), other (1.5%)
Licensed in:
CT, MA, MO, NH, NJ, NY, PA
Principal Investments:
Investment grade bonds (65.2%), cash (8.8%), non investment grade bonds (5.0%), other (20.9%)
Corporate Info
Group Affiliation
Physicians Reciprocal Insurers
Investment Rating
--
Company Address
1800 Northern Boulevard
Roslyn, NY 11576
Roslyn, NY 11576
Phone Number
(516) 365-6345
NAIC Number
21350
Website
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