The Financial Stability Rating (FSR) of “A, Exceptional”, assigned to PCH Mutual Insurance Company, Risk Retention Group (RRG) has been affirmed by Demotech.
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 and “realistic” pricing.
Demotech stated that its FSRs summarise its opinion of the financial stability of an insurer, regardless of general economic conditions or the phase of the underwriting cycle.
FSRs utilise statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners.
PCH Mutual was formed in 2004 by a group of personal care homes in Pennsylvania in response to the need for a segregation of insurance for adult residential care facilities that do not provide skilled care.
These facilities include personal care homes, assisted living facilities, adult foster care, adult family homes and other similar types of operations. The RRG is currently writing various limits of liability insurance in 37 states.
Domiciled in Washington, DC, PCH Mutual’s programme management is provided by PCALIC, LLC out of central Pennsylvania.
