![]() Provides coverage for your administrative, clerical and support personnel while they are acting on your behalf. Refer to the policy form for the definition of defense costs and punitive damages. Punitive damages are not covered by the policy. *Policy aggregate limit of liability is not applicable to those agents and registered representatives who are residents of or practice in New York State.ĭefense costs reduce the limit of liability and are subject to the retention. Reduced rate for newly licensed life and/or health agent that has received their state license within one year of enrollment! ($1M/$3M limit option only) ALL RIGHTS RESERVED.Coverage available for Life, accident and health, LTC, Medicare, and managed health care organizations as well as optional coverage for annuities, mutual funds, variable annuities, variable insurance, disability, and 24-hour care Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. ĪM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. This press release relates to Credit Ratings that have been published on AM Best’s website. These companies are all part of an intercompany pooling agreement, whereby all premiums, losses and expenses are shared proportionally based on their stated pooling participation: The Long-Term ICRs has been downgraded to “a” (Excellent) from “a+” (Excellent) and the FSR of A (Excellent) affirmed with stable outlooks for EMCC and its following P/C subsidiaries. EMCNL maintains consistent risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), with generally positive but declining overall earnings in recent years. The ratings of EMCNL also reflect its strategic importance to its parent, EMCC, represented by its diversified product profile of life, annuity and workplace products available through multiple distribution sources. The ratings of EMCNL reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate ERM. Streamlining of product offerings, additional scrutiny in underwriting, and significant rate increases are intended to improve consistency in the group’s operating results over the near-term. EMC Insurance Companies’ operating results have been challenged in recent years, particularly due to numerous significant catastrophe events and other frequent and cumulative weather events. The group continues to maintain a competitive position in the commercial lines space within its geographic footprint, mostly in the Midwest. The downgrade of the Long Term ICR reflects the change in AM Best’s assessment of the group’s balance sheet strength to the very strong level from strongest, as it has struggled to maintain its surplus position due to underwriting losses and variability in the investment portfolio over the most recent five-year period. The ratings of EMC Insurance Companies reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate ERM. (See below for a detailed listing of the companies.) EMCC and its subsidiaries are domiciled in Des Moines, IA, except for Dakota Fire Insurance Company, which is domiciled in Bismarck, ND. The outlook of these Credit Ratings (ratings) is stable. In addition, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of EMC National Life Company (EMCNL). OLDWICK, N.J.-( BUSINESS WIRE)- AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Employers Mutual Casualty Company (EMCC) (Des Moines, IA) and its five property/casualty (P/C) subsidiaries (collectively referred to as EMC Insurance Companies), which operate under an intercompany pooling agreement led by EMCC.
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