Standard & Poor’s cut to double-“Bpi” from triple-“Bpi” its counterparty credit and financial strength ratings on Casualty Reciprocal Exchange’s interaffiliate pool members Equity Mutual Insurance Co. (EMI) and Casualty Reciprocal Exchange. The action was taken because of a decline in capitalization, marginal operating performance and a lower liquidity ratio based on model.
The pool, which is headquartered in Kansas City, Mo., writes mainly workers’ compensation and private passenger auto with an additional specialization in reinsurance. More than one-half of the pool’s business lies within the states of California, New Jersey, Texas, Florida, and Pennsylvania. The group distributes its products through salaried marketing representatives working through endorsed trade association and program agents targeting selected industry segments (workers’ compensation).
The companies are members of the Dodson Group, a midsize insurance group with surplus of $30.1 million as of year-end 2001 and, together, are licensed in 40 states and the District of Columbia.
Topics Casualty
Was this article valuable?
Here are more articles you may enjoy.
California Adopts Weaker Home Protection Rules as Wildfires Grow 
A Landmark Supreme Court Ruling Is Upending How America Moves Its Goods 
Orion180 Files for IPO, Eyeing Home and Flood Insurance Market 
Progressive Boosts Exposure With Football Field Logos at 13 Universities From This Issue
