Demotech Assigns Financial Stability Rating® to Healthcare Providers Insurance Exchange
PHILADELPHIA, Sept. 4, 2013 /PRNewswire/ -- Pennsylvania-based Healthcare Providers Insurance Exchange (HPIX) 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 to policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves and realistic pricing.
Financial Stability Ratings® 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).
Brian Schleider, HPIX Chief Financial Officer, said, "We are pleased to receive this independent opinion of our Company's financial stability. HPIX is committed to achieving the best outcomes for our insureds while achieving financial excellence."
Healthcare Providers Insurance Exchange (HPIX) is a Pennsylvania-domiciled reciprocal insurance exchange that provides medical malpractice insurance to healthcare professionals in Pennsylvania, New Jersey, Delaware and Maryland. HPIX has earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc. and is backed by a panel of international and domestic reinsurers rated A (Excellent) by A.M. Best, including several Lloyd's Syndicates. Through HPIX's focus on early reporting and intervention of adverse medical outcomes, HPIX has achieved financial excellence while providing medical professionals with the comfort, protection and service they need. HPIX maintains high surplus to written premium ratio through qualitative underwriting and sound investment policies. Visit www.hpix-ins.com for more information.
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.
SOURCE Demotech, Inc.