- Financial Stability Rating® Notifications
- Demotech Upgrades the Financial Stability Rating® Assigned to Synergy Comp Insurance Company
Demotech Upgrades the Financial Stability Rating® Assigned to Synergy Comp Insurance Company
Columbus, Ohio, April 13, 2018: The Financial Stability Rating® (FSR) assigned to Synergy Comp Insurance Company has been upgraded to A” (A Double-Prime), Unsurpassed, 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 Synergy Comp Insurance Company
Synergy was founded on the principle that workers’ compensation could and should be much more than a burdensome expense that bruised bottom lines. They believed, and their experience taught them, that it could be a catalyst for positive change that produced safer work environments, fewer injuries, greater productivity, increased profits, and yes, real return on the dollars “invested” in Synergy’s innovative workers’ compensation solutions. While those results are impressive, they’re not unusual. Today, Synergy strives to reduce each client’s claims and claims paid by 75 percent within three years and to cut their experience modification factor by more than 40 percent, and lower their workers’ comp premium by 60 percent within four years. As Synergy’s clients will readily attest, they regularly achieve and in some cases exceed those goals.
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. Visit www.demotech.com for more information.
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