SAN FRANCISCO, CALIF., Dec. 3, 2015 (GLOBE NEWSWIRE) — A.M. Best Company, the most widely recognized rating agency for the insurance industry, has reaffirmed an “A” (Excellent) rating for NORCAL Mutual Insurance Company for its financial strength and stability. NORCAL Mutual shares this rating with its subsidiary companies Medicus Insurance Company and PMSLIC Insurance Company.
“We are pleased that AM Best affirmed and recognized the efforts we have taken to ensure the financial stability of our company, particularly in this historically soft market,” said NORCAL Mutual’s Chief Financial Officer Mark Johnson. “For 40 years, NORCAL Mutual has upheld the mission of providing the highest quality products and services to our policyholders at the lowest responsible price, while maintaining a financially strong company.”
This year’s rating continues to reflect NORCAL Mutual’s strong balance sheet, historically positive operating performance, proactive risk management and sound business profile as one of the leading providers of medical professional liability insurance in the United States.
In 2015, NORCAL Mutual continued to expand its national footprint with the entrance into new markets, now writing in 13 states. The company also recently announced its definitive agreement to acquire Florida-based FD Insurance Company, pending regulatory approvals.
An A.M. Best rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
About NORCAL Mutual
Since 1975, NORCAL Mutual has been a policyholder-owned and physician-directed medical professional liability carrier dedicated to ensuring the availability of affordable and relevant coverage. Along with its subsidiary companies PMSLIC Insurance Company and Medicus Insurance Company, NORCAL Mutual is one of the top ten medical professional liability carriers in the nation, based on direct written premium, and holds an “A” (Excellent) rating by A.M. Best for its financial strength and stability.
Sandy Knott, , 512-879-5157