A.M. Best has assigned SCF Arizona and its wholly-owned subsidiaries an A- (Excellent) XII with a “stable outlook” rating.
The company’s ratings are an indication of its “solid risk-adjusted capitalization, improving operating performance and prominence within the Arizona workers’ compensation marketplace,” according to the A.M. Best news release.
The A.M. Best assignment was made officially to CopperPoint Mutual Insurance Co., which is doing business as SCF Arizona. However, SCF will begin the process of changing its name to CopperPoint Mutual at the end of this year.
The A- “Excellent” rating is indicative of SCF’s successful navigation from being Arizona’s state workers compensation fund to becoming a private mutual insurance carrier, according to the company. Pursuing and receiving an A.M. Best rating was a part of the company’s strategy to be competitive.
SCF provides coverage to more than 20,000 Arizona businesses and their employees.