A.M. Best Affirms MHA Insurance Company's 'Excellent' Rating
by FinCor Holdings Inc.
LANSING, Mich., Feb. 29 /PRNewswire/ — FinCor Holdings Inc., (http://www.fincorholdings.com/) a Lansing, Mich.-based holding company primarily focused on insurance protection for health care providers, today announced that A.M. Best has recently affirmed the “A-” (Excellent) financial strength rating for the company’s insurance subsidiary, MHA Insurance Company. The MHA Insurance Company has maintained its A- (Excellent) rating since 1994.
For calendar-year 2007, MHA Insurance Company wrote more than $86.5 million in professional liability premiums for hospitals and physicians. Additionally, MHA Insurance Company wrote more than $14.5 million in workers’ compensation premiums during 2007, an increase of 12.1 percent from 2006.
A.M. Best provides an independent third-party opinion to an insurer’s financial strength and ability to meet its ongoing obligations to policyholders. The rating is based on a comprehensive evaluation of an insurer’s balance sheet strength, operating performance and business profile.
A.M. Best noted the following items in its ratings affirmation of MHA Insurance Company:
— historically conservative reserving philosophy — favorable operating performance — high underwriting standards — solid management team — adequate risk-adjusted capitalization — expectation of continued profitability — maintenance of reserve adequacy, as well as a capitalization that supports the rating
“Once again, MHA Insurance Company has received third-party validation of its financial strength and performance. More importantly, the company continues to post solid growth across all of its product lines and ranks high in client satisfaction and retention,” said Thomas F. Dickinson, FinCor Holdings president and CEO.
MHA Insurance Company
MHA Insurance Company has been servicing health care providers since 1976 and currently provides professional medical liability insurance to more than 200 health care facilities and more than 5,000 physicians throughout the Midwest. For more information, go to http://www.mhaic.com/.
About FinCor Holdings
FinCor Holdings Inc. is a Lansing, Mich.-based integrated risk management corporation designed to meet the risk financing, risk transfer and clinical risk management needs of today’s health care providers.
FinCor Holdings and its subsidiaries — FinCor Solutions, The Risk Management and Patient Safety Institute, MHA Insurance Company, Washington Casualty Company and Capital Risk Solutions — provide industry-leading products and support services, including medical professional liability insurance, risk financing programs, workers’ compensation and risk management solutions. FinCor Holdings has built a national presence and outstanding reputation for assisting hospitals and health care providers in designing effective clinical risk management programs.
For more information, visit http://www.fincorholdings.com/.
FinCor Holdings Inc.