Standard & Poor’s Ratings Services lowered its counterparty credit and financial strength ratings on Boca Raton, Fla.-based Associated Industries Insurance Co. (AII) to “Bpi” from “Bbpi.”
“This rating action was based on AII’s weak capital, weak liquidity, high geographic and product-line concentrations, and volatile operating performance,” said Standard & Poor’s credit analyst Allison MacCullough.
AII writes only workers’ compensation insurance. Its products are distributed primarily through independent general agents. The company, which began business in 1954, is licensed in Alabama, Florida, Georgia and Mississippi.
Was this article valuable?
Here are more articles you may enjoy.
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL 
Two Dead at Tampa Office After Man Drove Car into Building and Started Shooting 
Allstate’s AI Ecosystem to Include a Personal Agentic Assistant for Customers 
Florida Appeals Court Bars Release of ‘Trade Secret’ Info in Heritage Claims Litigation 
