- Financial Stability Rating® Notifications
- Demotech Affirms the Financial Stability Rating® Assigned to Homesite Insurance Company of NY
Demotech Affirms the Financial Stability Rating® Assigned to Homesite Insurance Company of NY
Columbus, Ohio, September 7, 2012: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Homesite Insurance Company of NY has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.
About Homesite Insurance Company of NY
Homesite Ins. Co. of New York is a member of the Homesite Ins. Group (HIG). Founded in 1997, the HIG focuses exclusively on the homeowners market. HIG continues to bring industry-leading technology, innovative marketing and distribution strategies and expertise in catastrophe management to the home insurance business.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. This philosophy was the catalyst for the Demotech Company Classification System, which was published in Insurance Journal, in order to stratify and categorize insurers into operational categories. Visit www.demotech.com for more information.
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