• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • WCW HOME
  • Submit a Wire!
  • Advertising
  • Media Partners
  • About
  • Contact Us

WorkCompWire

Your Trusted Source for Workers Compensation News

Enlyte
  • Workers Compensation News
    • Workers Compensation Industry News
    • Association, Rating & Research News
    • Claims, Legal, & Compliance News
    • Legislative & Regulatory News
    • Risk Management News
    • Work Force & Human Resource News
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • People On The Move

AM Best Assigns Credit Ratings to ClearPath Mutual Insurance Company

March 12, 2019 - WorkCompWire

Oldwick, NJ -(BusinessWire)- AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to ClearPath Mutual Insurance Company (ClearPath) (Louisville, KY). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect ClearPath’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

ClearPath’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is categorized as strongest and AM Best expects it to remain at a similar level in future years. The balance sheet strength assessment also considers the company’s above average reserve leverage, conservative approach to establishing reserves, history of favorable reserve development and generally low risk investment portfolio.

ClearPath has generated an adequate level of operating performance, supported by favorable underwriting income and moderate investment returns in recent years. Underwriting results have benefited from favorable reserve development trends on prior accident years. ClearPath has limited business diversification as single-state, mono-line workers’ compensation insurer, which leaves it susceptible to competitive pressures in Kentucky, as well as potential legislative, regulatory or judicial changes. This concern is mitigated partly by the company’s favorable market position within the state and local market expertise. Risk-management capabilities are considered appropriate for the risk profile of the company.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Source: BusinessWire

Filed Under: Association, Rating & Research News, Industry News, Top Stories, Workers' Compensation

Primary Sidebar

Get Our Free Newsletter:

Select list(s) to subscribe to


By submitting this form, you are consenting to receive marketing emails from: WorkCompWire.com, PO Box 1114, Culver City, CA, 90232, http://www.workcompwire.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

myMatrixx

Paradigm

One Call

THM

MSQ

Follow Us on Twitter

Tweets by WorkCompWire

Workers Compensation News Topics

  • Top Stories
  • Featured Articles
  • Leaders Speak
  • Editor’s Forum
  • The RxProfessor
  • Industry News
  • Association, Rating & Research News
  • People On The Move
  • Claims, Legal, & Compliance News
  • Legislative & Regulatory News
  • Risk Management News
  • Work Force & Human Resource News
  • Workers’ Compensation

Wire Archives

Copyright WorkCompWire © 2022