Share This Article:
A.M. Best Revises Outlook Of Missouri Employers Mutual Insurance Company
29 Apr, 2010 WorkersCompensation.com
Oldwick, NJ - A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Missouri Employers Mutual Insurance Company (MEM) (Columbia, MO).
The revised outlook reflects the recent moderate deterioration in MEM's underwriting performance and A.M. Best's expectation for continued weaker underwriting results over the near term. The downturn in underwriting performance is reflective of ongoing competitive market conditions and modest adverse loss reserve development in 2002 and prior accident years.
Despite the revised outlook, the affirmation of the ratings reflects MEM's strong overall capitalization, historic track record of recording solid operating earnings and dominant position in the Missouri workers' compensation market. While MEM is technically a state fund, it is not a state agency and is not the insurer of last resort or the residual market in Missouri, but it benefits from its ability to utilize multiple pricing tiers and its exemption from federal income taxes.
For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit Best's Ratings & Analysis.
The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at Best's Credit Rating Methodology.
Source: A.M. Best Co.
Read Also
- Jul 03, 2024
- WorkersCompensation.com
- Jul 02, 2024
- WorkCompCollege
- Jul 02, 2024
- Horizon Casualty Services
About The Author
About The Author
- WorkersCompensation.com
More by This Author
- Jun 24, 2024
- WorkersCompensation.com
- May 11, 2023
- WorkersCompensation.com
- May 10, 2023
- WorkersCompensation.com
Read More
- Jul 03, 2024
- WorkersCompensation.com
- Jul 02, 2024
- WorkCompCollege
- Jul 02, 2024
- Horizon Casualty Services
- Jun 24, 2024
- WorkersCompensation.com
- Jun 23, 2024
- WorkersCompensation.com
- Jun 21, 2024
- WorkCompCollege