A.M. Best’s ratings agency has placed the A- (Excellent) financial strength rating of New Jersey-based MIIX Group under review with negative implications following the company’s announcement that Richard Quagliaroli, the recently appointed CEO, had resigned. (See IJ Website Sept. 27).
Best’s bulletin noted the he had been “the third CEO to resign from the organization in two years,” and that its review would include all the MIIX operating entities.”The rating will remain under review pending analysis and discussions with A.M. Best and the management team of MIIX,” said the announcement.
MIIX, which writes medical malpractice coverage for health care providers, recently strengthened its reserves and adopted a new business plan.
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