Standard & Poor’s (S&P) affirmed its triple-‘Bpi’ financial strength rating on Woodland Hills, Calif.-based Crusader Insurance Company.
Key rating factors include the company’s extremely strong capitalization and operating performance, partially offset by its high geographic concentration, which exposes it to regulatory, economic and catastrophic risk. Crusader began its California operation in 1985.
Today, the company is licensed to transact property and casualty insurance on an “admitted” basis in California, Nevada, Arizona, Montana, Washington, Oregon, Ohio, Colorado, and Idaho. Crusader also provides products and services to Kentucky, Pennsylvania, and Texas as a “non-admitted” carrier.A substantial amount of Crusader’s policies are underwritten through an affiliated general agency, Unifax Insurance Systems Inc.
Crusader is a stock company, incorporated on June 14, 1976. The company is a wholly owned subsidiary of Unico American Corporation. Unico is a publicly owned insurance holding company, traded on the NASDAQ under the symbol “UNAM.” Unico’s management has been providing insurance services for over 45 years. All of Crusader’s outstanding stock is owned by Unico.
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