- Financial Stability Rating® Notifications
- Demotech Assigns Financial Stability Rating® to The Bar Plan Mutual Insurance Company
Demotech Assigns Financial Stability Rating® to The Bar Plan Mutual Insurance Company
Columbus, Ohio, May 31, 2012: The Bar Plan Mutual Insurance Company has earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional 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 Bar Plan Mutual Insurance Company (The)
The Bar Plan has remained a constant, serving Missouri lawyers continuously since 1986. The Bar Plan Mutual Insurance Company provides the broadest legal malpractice coverage at the lowest possible price. All products and services offered by The Bar Plan Group of Companies are for the benefit of the legal community. We serve the legal community in everything we do.
The Bar Plan writes lawyers’ professional liability insurance in Missouri, Kansas, New Mexico, Indiana, and Tennessee. In conjunction with its subsidiary company, The Bar Plan Surety & Fidelity Company, The Bar Plan also writes Court Bonds in 50 states. Additionally, The Bar Plan Insurance Agency, Inc. offers Lawyers’ Business Owner’s Policy, and Workers’ Compensation insurance, and it administers the Group Term Life Insurance for The Missouri Bar.
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 developed and 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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