A.M. Best has upgraded Frank Winston Crum Insurance's (FWCI) Financial Strength Rating to B++ (Good) from B+ (Good), and increased the Long-Term Issuer Credit Rating to "bbb" from "bbb-." The ratings reflect FWCI's balance sheet strength, which A.M. Best categorizes as strong, as well as its "adequate operating performance, limited business profile and appropriate enterprise risk management."
FWCI has reported improved operating performance in recent years, largely due to disciplined underwriting and loss control initiatives. According to A.M. Best, FWCI's balance sheet reflects the carrier's improved risk-adjusted capitalization, predominantly as a result of solid operating returns and capital contributions from its parent company to support its growing book of business.
Matt Crum, FWCI President says, "This is an important, incremental step in achieving our ultimate goal of attaining an “A” rating, and I’m very pleased that our efforts are paying off. We manage to very high standards across every aspect of company performance and stability, so it’s validating to see our rating continually improve.”
Other factors that went into the rating decision were FWCI's limited business profile reflects its product concentration, primarily as a guaranteed cost workers' compensation and general liability insurance company operating in multiple states including Florida, Georgia, Alabama and Texas. In addition, FWCI's enterprise risk management program benefits from a comprehensive reinsurance program and incorporates controls to manage risk concentration in its framework.
FWCI's experienced underwriters understand the marketplace and are committed to working directly with agency partners to offer responsive solutions for both simple and complex insureds.
Click here to learn more about FWCI or call 866-218-4219.
