AM Best


A.M. Best Upgrades Ratings of National Independent Truckers Insurance Company, A RRG


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Analyst(s)

Gale Guerra

(908) 439-2200, ext. 5069

gale.guerra@ambest.com

Steven Chirico

(908) 439-2200, ext. 5087

steven.chirico@ambest.com

Public Relations

Jim Peavy

(908) 439-2200, ext. 5644

james.peavy@ambest.com

Rachelle Morrow

(908) 439-2200, ext. 5378

rachelle.morrow@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK, N.J. - MAY 21, 2008 12:00 AM (EDT)
A.M. Best Co. has upgraded the financial strength rating to B+ (Good) from B (Fair) and issuer credit rating to "bbb-" from "bb" for National Independent Truckers Insurance Company, A RRG (NITIC) (Charleston, SC). The outlook for both ratings is stable.

The ratings reflect NITIC's improved capitalization, decreased operational leverage measures, strong management team with expertise in this niche market and its strict underwriting and risk management guidelines. Partially offsetting these positive rating factors is the company's limited business profile. An additional offsetting factor is NITIC's financial leverage position with a significant portion of the company's surplus in the form of a letter of credit.

Additional rating factors are NITIC's fundamental business strategies, which include providing stable insurance coverage coupled with quality service for its members. These fundamentals are evidenced by high member retention and member loyalty. Each member makes an annual capital contribution based on the number of vehicles (power units) insured.

NITIC has very strict loss control and underwriting guidelines in place. The company uses a scheduled driver program and visually inspects each vehicle prior to issuing a policy. Extensive interviews are conducted with the drivers and motor vehicle records are reviewed prior to accepting new members.

A.M. Best remains the leading rating agency of captive insurers rating a wide variety of more than 200 captives in the United States and throughout the world.

For current Best's Ratings and independent data on the captive and alternative insurance market, please visit Best's Captive Center.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.

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AMB# Company Name
075492 Natl Independent Truckers Ins Co, A RRG