MLMIC Insurance Company has again been recognized for its outstanding financial strength. AM Best, a global credit agency specializing in the insurance industry, affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of MLMIC Insurance Company.
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 litigious venues for medical professional liability. Despite the challenging market in New York, 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 unwavering support of healthcare professionals and commitment to protecting the policyholders we proudly serve throughout the year, as well as our financial strength as a Berkshire Hathaway company,” says Michael Schoppmann, chief executive officer of MLMIC Insurance Company.
View the full news release here.
Share:
