COLUMBUS, Ohio, Aug. 25, 2016 /PRNewswire/ -- Florida Public Housing Authority Self Insurance Fund, Inc. has earned a Financial Stability Rating® (FSR) 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.
About Florida Public Housing Authority Self Insurance Fund, Inc.
Florida Public Housing Authority Self Insurance Fund (FPHASIF) is Florida's first and only state regulated self-insurance fund created under F.S. 624.46226 by and for housing authorities. The goal is to provide cost savings, maximum protection, and coverage for all types of tax credit and other mixed use partnerships – to be the one-stop shop for members' insurance needs. FPHASIF is committed to risk management which protects their members from loss and keeps premiums low. Their mission is to serve Florida's public housing authorities and to provide fast, reliable, and professional service.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for more information.
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SOURCE Demotech, Inc.