American Physicians Capital, Inc., a national provider of medical professional liability coverage and workers’ compensation through American Physicians Assurance Corporation and its other subsidiaries,
announced that Standard & Poor’s Ratings Services (S & P) reaffirmed its ‘A-‘ financial strength rating on American Physicians Assurance Corporation, its most significant wholly owned subsidiary.
President and CEO William Cheeseman said S & P cited the company’s strong capitalization, improving operating performance, and conservative balance sheet as rationale for reaffirming their rating. S & P also recognized the company’s good market position and geographic diversity.
APCapital’s increased financial flexibility due to the recent raising of $30 million through trust preferred pools also helped to support the rating. S & P maintained a negative outlook due to the uncertainties that remain in the medical malpractice insurance marketplace, primarily revolving around further rises in claim severity.
“The reaffirmation of our ‘A-‘ rating from S & P reflects our commitment to maintain a strong financial base while continuing to improve our operating results,” added Cheeseman.
Was this article valuable?
Here are more articles you may enjoy.
US E&S Outlook No Longer Positive: AM Best 
Product Liability Verdicts Are on the Rise but There Are Ways to Avoid Them 
Applied Systems, Comulate Spar Over Trade Secret Theft Allegations 
Death of Teenager on Carnival Cruise Ship Ruled a Homicide 
