Drivers Edge Ins Co
Major Rating Factors:
Weak profitability index (2.9 on a scale of 0 to 10) with operating losses during 2022, 2023 and the first nine months of 2024. Return on equity has been low, averaging 0.0% over the past five years. Weak overall results on stability tests (1.4) including weak results on operational trends and weak risk diversification. The largest net exposure for one risk is conservative at 1.0% of capital. Fair reserve development (4.8) as reserves have generally been sufficient to cover claims.
Other Rating Factors:
Strong long-term capitalization index (7.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels. Excellent liquidity (7.5) with ample operational cash flow and liquid investments.
Stability Factors:
D - Limited diversification of general business, policy, and/or investment risk.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Personal/comm auto (59.2%), work comp (24.4%), other (16.4%)
Licensed in:
All states except CA, FL, HI, ID, IL, KS, KY, LA, MN, NJ, NY, VA, WI
Principal Investments:
Investment grade bonds (66.2%), cash (3.7%), other (30.0%)
Corporate Info
Group Affiliation
None
Investment Rating
Company Address
121 Drivers Edge
Traverse City, MI 49684
Traverse City, MI 49684
Phone Number
(877) 922-9701
NAIC Number
23795
Website
Largest Affiliates
No affiliate information available.