On August 23, A.M. Best reaffirmed its A+ (Superior) rating of ProAssurance Group. Additionally, several ProAssurance Group subsidiaries received upgraded financial ratings. Financial strength is a vital quality of a healthcare liability insurer. Part of our Treated Fairly® pledge is ensuring stability and sound investments for our insureds.
Medmarc Casualty Insurance Company (Medmarc), Noetic Specialty Insurance Company (Noetic), and Podiatry Insurance Company of America (PICA) have been upgraded from a Financial Strength Rating (FSR) of A (Excellent) to A+ (Superior) with Long-Term Issuer Credit Ratings (ICRs) of “aa-“ from “a.” Long-term ICR outlooks have also been revised to stable from positive.
ProAssurance Group, including ProAssurance Casualty Company, ProAssurance Indemnity Company, Inc., ProAssurance Specialty Insurance Company, Inc., and ProAssurance American Mutual, A Risk Retention Group were affirmed with a FSR of A+ (Superior) and Long-Term ICRs of “aa-“.