Best’s News & Research Service - December 17, 2015 03:32 PM (EST)
A.M. Best Assigns Ratings to ISMIE Indemnity Company
Oldwick //BestWire// - A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to ISMIE Indemnity Company (ISMIE Indemnity) (Chicago, IL). The outlook assigned to both ratings is stable.
The ratings are based upon the explicit support provided by its parent, ISMIE Mutual Insurance Company (ISMIE Mutual), in the form of an intercompany quota share agreement. Administrative services for the company are also provided by ISMIE Mutual.
ISMIE Indemnity provided medical professional liability coverage for physicians employed by hospitals that were insured by the Illinois Provider Trust between 2001 and 2003. ISMIE Indemnity ceased providing coverage on Dec. 31, 2003, and now plans to offer existing ISMIE Mutual policyholders coverage for their operations in states where ISMIE Mutual is not licensed.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.
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