Employers Insurance Company of Nevada, A Mutual Company (EICN) announced that it has received an “A- (Excellent)” rating from A.M. Best Company.
“Today is an historic day in the continuing evolution of Employers Insurance Company and its subsidiaries,” said EICN CEO Douglas Dirks. “This milestone marks one of the most positive and significant developments in our company’s history.
“Ratings assigned by A.M. Best take place only after very close examination of all aspects of an insurance company’s current financial position, the potential risks facing that company, and the company’s recent history,” Dirks said. “Thus, to receive an ‘A -‘ rating – one of the highest – is unquestionably a major accomplishment. It is re-affirmation by America’s most respected insurance rating organization that EICN’s financial position is secure, and one that can be relied on by both current and prospective policyholders and agents.”
In its rationale for the rating, A.M. Best stated that “given management’s historically conservative reserving practices and disciplined underwriting philosophy, A.M. Best looks for long-term operating profitability to remain favorable as the group diversifies into neighboring states.”
EICN’s rating is also designated as a “group rating” by A.M. Best, which means the rating is based on the consolidation of Employers Insurance Company of Nevada, A Mutual Company, and its 100 percent owned subsidiary, Fremont Employers Insurance Company.
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