Demotech Affirms the Financial Stability Rating® Assigned to Manufacturing Technology Mutual Insurance Company
Columbus, Ohio, December 20, 2021: The Financial Stability Rating® (FSR) of A’ (A Prime), Unsurpassed, assigned to Manufacturing Technology Mutual Insurance Company has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.
FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.
About Manufacturing Technology Mutual Insurance Company
Manufacturing Technology Mutual Insurance Company (MTMIC) is a mutual insurance company domiciled in the State of Michigan. It was formed on January 1, 2007 from a self-insured Group Fund, previously known as the Michigan Tooling Association Workers’ Compensation Fund. The heritage of the company dates back to 1976 and has progressed into a company that services 950 manufacturers, technology based-businesses, printers, hardware stores and automotive dealerships located throughout the state of Michigan.
MTMIC was selected as the endorsed workers’ compensation insurance provider for the Michigan Plastic Processors Association in 2008, for the Printing Industries of Michigan in 2011 and for the Michigan Manufacturers Association in 2018.
MTMIC is dedicated to reducing claims costs for MTMIC member companies while increasing employee safety and productivity.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable, and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Demotech’s consistently increasing list of accreditations and acceptances has resulted in rating and reviewing more than 400 insurers operating in the US. Visit www.demotech.com for additional information.
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