Building Industry Insurance Association, Inc. Earns Financial Stability Rating® of A, Exceptional, from Demotech, Inc.
COLUMBUS, Ohio, July 6, 2011 /PRNewswire/ -- Building Industry Insurance Association, Inc. has earned a Financial Stability Rating® 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, including Fannie Mae, Freddie Mac and HUD.
About Building Industry Insurance Association, Inc.
Building Industry Insurance Association, Inc. (BIIA) is a fully licensed property and casualty insurance company. BIIA is the result of a 2008 merger between Mid-Atlantic Insurance Corporation, a home warranty subsidiary of the Tidewater Builders Association, and the Building Insurance Association, a workers compensation group self-insurer and Builders Insurance Association, Inc.
BIIA offers Workers' Compensation and General Liability Insurance to Virginia domiciled businesses.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm located in Columbus, Ohio. Since 1985, Demotech has been serving the insurance industry by providing actuarial consulting and accurate and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies and Title underwriters. FSRs are a leading indicator of the financial stability of a company. Our rating process provides an objective baseline and insight into the future solvency of a company. As an independent financial analysis and actuarial firm, Demotech has a proven track record of predicting financial stability in the insurance industry. As the first company to have its rating process formally reviewed and accepted by Fannie Mae, Freddie Mac and HUD, Demotech has been leveling the playing field by offering Financial Stability Ratings® (FSRs) to insurers of all sizes.
Visit www.demotech.com for more information.
SOURCE Demotech, Inc.
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