CAMICO Earns A- (Excellent) Rating From AM Best
2024年7月17日 - 4:39AM
ビジネスワイヤ(英語)
CAMICO, the nation’s largest CPA-owned and directed program of
insurance and risk management for the accounting profession,
announced today that AM Best has upgraded its Financial Strength
Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer
Credit Rating of a- (Excellent) from bbb+ (Good).
In excerpts from its 2024 report, AM Best said the ratings
upgrade reflects “an improvement in CAMICO’s balance sheet strength
assessment to the higher end of the 'very strong' category, as well
as its adequate operating performance, limited business profile and
appropriate enterprise risk management (ERM).” CAMICO maintains the
strongest level of risk-adjusted capitalization, as measured by
Best’s Capital Adequacy Ratio. Additionally, CAMICO has an
appropriate ERM program in place, with well-identified key risks
and corresponding mitigation strategies.
“We are excited that AM Best has upgraded CAMICO to an A-
(Excellent) rating,” said CAMICO President and CEO Ric Rosario. “AM
Best recognizes our commitment to excellence which comes from our
knowledge, expertise and lead position within the accounting
profession as we continue to deliver on our promise of providing
the best-in-class insurance program for CPAs. This upgrade will
continue to strengthen the trust that our policyholders have in
CAMICO and allow us to further enhance our value proposition and
better position us for continued growth.”
“CAMICO’s passion for helping our policyholders with top-quality
insurance, claims and risk management solutions designed to meet
their evolving needs is integral to what we do,” Rosario said.
To view AM Best’s full press release please visit: AM Best
Upgrades Credit Ratings of CAMICO Mutual Insurance Company.
About CAMICO
CAMICO delivers insurance, risk management and related services
to more than 8,000 CPA firms and 50,000 staff members in all 50
states and the District of Columbia. Founded in 1986, CAMICO is
endorsed by state CPA societies and associations in Alaska,
Arizona, California, Colorado, Greater Washington D.C., Idaho,
Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New
York, Oregon, Tennessee, Utah, Virginia, and Washington. CAMICO
provides Professional Liability Insurance, Employment Practices
Liability Insurance, and other insurance products needed by CPA
firms.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716509070/en/
Amber Baillie CAMICO abaillie@camico.com 650.378.6716
www.camico.com