Financial Stability Rating® of HomeWise Insurance Company Withdrawn
COLUMBUS, Ohio, Aug. 25, 2011 /PRNewswire/ -- Demotech, Inc. has withdrawn the Financial Stability Rating® (FSR) of A, Exceptional, assigned to HomeWise Insurance Company. The withdrawal of this FSR reduces the number of carriers writing homeowners insurance in Florida that have been designated as Stable by Demotech to 49. Demotech continues to review and rate carriers writing all lines of business in all states.
Demotech, Inc. withdrew the Financial Stability Rating® (FSR) assigned to HomeWise Preferred Insurance Company approximately eighteen months ago, on February 19, 2010.
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.
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 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 firm, Demotech has a proven track record of predicting financial stability in the insurance industry. 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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