Las Vegas-based Premier Physicians Insurance Co. risk retention group announced it has earned a Financial Stability Rating (FSR) of “A Exceptional” from Demotech Inc., a financial analysis firm located in Columbus, Ohio. The FSR is Premier Physicians’ first rating.
According to Demotech, the FSR represents confidence in the RRG’s ability to meet its financial obligations. It is the third-highest rating that Demotech currently offers. To be rated, Premier Physicians underwent a review of its financials with attention paid to assets, liabilities, working capital, total revenue, administrative expenses, surplus, various leverage ratios, as well as other pertinent data. Despite the current unfavorable economic conditions and increased marketplace competition, the RRG had a profitable and successful 2009 and has been increasing both its premium volume and surplus reserves.
Premier Physicians is a licensed and rated, risk retention group owned by its member physicians and specializing in providing stable, long-term medical malpractice insurance to its policyholders as well as access to a comprehensive platform of products and services that are designed to streamline workflow and improve medical practice performance. Premier Physicians is licensed to write policies in Arizona, California, Nevada, Oregon and Utah and is reinsured by Lloyd’s of London. The firm’s reinsurance carriers are rated “A” or higher by A.M. Best and have a combined capacity of more than $2.5 billion.
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