Demotech Affirms the Financial Stability Rating® Assigned to Kin Interinsurance Network
Columbus, Ohio, August 19, 2021: The Financial Stability Rating® (FSR) of A, Exceptional, assigned to Kin Interinsurance Network has been affirmed by Demotech, Inc. This level of FSR is assigned to insurers who possess exceptional 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 Kin Interinsurance Network
Kin Insurance is an insurtech startup and licensed insurance carrier that is fixing home insurance through intuitive tech, affordable pricing, and world-class customer service. By leveraging thousands of publicly available data points, Kin can recommend the appropriate coverage at affordable prices for homeowners. Launched by seasoned financial tech entrepreneurs Sean Harper and Lucas Ward in 2016, Kin is the first insurtech company to serve catastrophe-prone regions and is committed to helping coastal homeowners most impacted by climate change. The company is headquartered in Chicago with an office in Tampa Bay and currently serves Florida, Texas, Georgia, and Alabama with plans to expand across the US. For more information, visit http://www.kin.com.
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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