A.M. Best raised Dallas-based American Contractors Insurance Group’s (ACIG) financial strength rating from “A-” to “A.” The rating was based on the financial condition and performance of all of ACIG’s operating units, including American Contractors Insurance Group Ltd. in Bermuda, and its core operating subsidiaries, American Risk Funding Insurance Co. (ARFIC) in Illinois and American Contractors Insurance Company Risk Retention Group (ACICRRG) in Texas.
ACIG’s capitalization, operating strategy, and solid underwriting results contributed to its rating upgrade. The company writes primarily workers’ compensation, commercial general liability, and commercial auto coverages. Potential insureds must be financially strong and show effective safety programs and good loss records. ACIG uses retrospective rating policy forms to write most of its working-layer loss exposures to reduce the likelihood of diminished financial results.
According to A.M. Best, ACIG’s rating outlook is stable due to the company’s focus on geographic and contractor diversification, as well as its operating strategies and loss-control initiatives.
Topics Contractors AM Best
Was this article valuable?
Here are more articles you may enjoy.
US Judge Skeptical of Biden Overtime Pay Rule 
Coverage Needed: Hundreds of Thousands in SE Now in Flood Zones With New Maps 
German Insurtech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan 
US P/C Insurers Post Best Q1 Underwriting Result In 17 Years From This Issue
