A.M. Best Assigns Rating to National Independent Truckers Insurance Company, A Risk Retention Group

FOR IMMEDIATE RELEASE

OLDWICK, N.J. - JUNE 19, 2006 12:00 AM (EDT)
A.M. Best Co. has assigned a financial strength rating of B (Fair) to National Independent Truckers Insurance Company, A Risk Retention Group (NITIC) (Charleston, SC). The rating outlook is stable.

The rating reflects 'NITIC's very good capitalization, strong management team with expertise in this niche market and strict underwriting and risk management guidelines.

Partially offsetting these positive rating factors is NITIC's leverage position with a significant portion of its surplus in the form of a letter of credit. An additional offsetting factor is NITIC's monoline status, which could potentially cause fluctuations in operating results.

Additional rating factors are the company'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.

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A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.