Major Rating Factors:
Weak overall results on stability tests (1.1 on a scale of 0 to 10) including fair risk adjusted capital in prior years. The largest net exposure for one risk is excessive at 19.7% of capital. Fair long-term capitalization index (3.0) based on weak current risk adjusted capital (severe loss scenarios), although results have slipped from the fair range during the last year. History of adequate reserve strength (6.4) as reserves have been consistently at an acceptable level.
Other Rating Factors:
Good liquidity (6.8) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Excellent profitability index (8.4) with small operating losses during 2020.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
D - Limited diversification of general business, policy, and/or investment risk.
R - Concerns about the financial strength of its reinsurers.
Principal Lines of Business:
Med mal (98.5%), other (1.5%)
Licensed in:
CT, MA, MO, NH, NJ, NY, PA
Principal Investments:
Investment grade bonds (65.2%), cash (8.8%), non investment grade bonds (5.0%), other (20.9%)
Corporate Info
Group Affiliation
Physicians Reciprocal Insurers
Investment Rating
--
Company Address
1800 Northern Boulevard
Roslyn, NY 11576
Roslyn, NY 11576
Phone Number
(516) 365-6345
NAIC Number
21350
Website
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