Ratings revised for NITIC
A.M. Best has revised the outlook of National Independent Truckers Insurance Company (NITIC) to positive from stable.
The ratings company also affirmed the financial strength rating of “B+ (Good)” and the issuer credit rating of “bbb-" of NITIC, the risk retention group located in Charleston, South Carolina.
The revised outlooks reflect the company’s capital position due to its loss and loss adjustment expense ratios.
According to A.M. Best, positive ratings actions could occur “if the company continues to generate sustainable underwriting profitability while mitigating volatility, or consistently increasing surplus”.
