MLMIC Insurance Company has, once again, been recognized for its outstanding financial strength. AM Best, a global credit agency rating and information provider with a focus on the insurance industry, awarded MLMIC an A+ (Superior) Financial Strength Rating and a Long-Term Issuer Credit Rating of “aa-” (Superior). AM Best also reports, “The outlook assigned to these credit ratings is stable.”
The AM Best announcement highlights MLMIC’s “long track record of favorable reserve development and adequate underwriting returns” in New York State, one of the country’s most challenging markets for medical professional liability. Despite the difficult climate, AM Best states, “Management has been able to operate successfully through underwriting cycles while maintaining MLMIC’s leading market position within New York.”
“We are proud of our A+ rating, as it is a testament to our commitment to protecting the policyholders and healthcare professionals we proudly serve throughout the year and our financial strength as a Berkshire Hathaway company,” says Michael Schoppmann, chief executive officer of MLMIC Insurance Company.
View the full news release here.