Major Rating Factors:
Fair overall results on stability tests (4.5 on a scale of 0 to 10) including weak results on operational trends. The largest net exposure for one risk is conservative at 1.1% of capital. Good overall long-term capitalization (5.9) based on good current risk adjusted capital (moderate loss scenario). However, capital levels have fluctuated somewhat during past years.
Other Rating Factors:
Good liquidity (6.6) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Ample reserve history (7.0) that can protect against increases in claims costs. Weak profitability index (2.9) with operating losses during 2019 and 2020. Average return on equity over the last five years has been poor at -5.7%.
Stability Factors:
A - Financial problems or weaknesses of a parent or affiliate company.
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 (98.3%), other (1.7%)
Licensed in:
All states except AK, AZ, AR, CO, DC, HI, ID, LA, ME, MT, NH, NM, NC, OK, OR, RI, TX, UT, WA, WY, PR
Principal Investments:
Investment grade bonds (85.2%), non investment grade bonds (5.5%), preferred stock (1.4%), real estate (0.2%), cash (0.1%), common stock (0.1%), other (7.5%)
Corporate Info
Group Affiliation
ProAssurance Corp
Investment Rating
Company Address
2600 PROFESSIONALS DRIVE
OKEMOS, MI 48864
OKEMOS, MI 48864
Phone Number
(615) 301-1445
NAIC Number
38954
Website
Largest Affiliates
