- Financial Stability Rating® Notifications
- Demotech Assigns Financial Stability Rating® to Next Insurance US Company
Demotech Assigns Financial Stability Rating® to Next Insurance US Company
Columbus, Ohio, November 6, 2019: Next Insurance US 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 Next Insurance US Company
Next Insurance is simple, affordable and tailored business insurance, fully online. The company offers policies for over 1000 types of professions with instant, 24/7, online access to services such as Live Certificates of Insurance, Additional Insured, and more at no extra costs. Revolutionizing traditional insurance processes, Next Insurance is utilizing advanced technology to offer the industry’s most innovative small business insurance policies. Founded in 2016 by a team of serial entrepreneurs, the company is headquartered in Palo Alto and has received a total of $381 million in venture capital funding from MunichRe, Redpoint Ventures, Nationwide, Markel, American Express Ventures, Ribbit Capital, TLV Partners, Group 11, and Zeev Ventures. For more information about the company, visit Next-Insurance.com.
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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