OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has assigned an issuer credit rating of "a-" and
affirmed the financial strength rating (FSR) of A- (Excellent) of
Physicians Insurance Company of Wisconsin, Inc. (PIC Wisconsin)
(Madison, WI). The FSR has been removed from under review with
negative implications, and both ratings have been assigned a stable
outlook.
These rating actions follow regulatory approval and subsequent
implementation of a stop-loss reinsurance agreement between PIC
Wisconsin and The Medical Assurance Company Inc. (TMAC), both of which
are subsidiaries of ProAssurance Corporation (both of Birmingham, AL)
(NYSE: PRA). This agreement, which covers accident year 2006 and prior
claims, successfully addresses A.M. Best's concern over PIC
Wisconsin's risk-adjusted capital position, which previously was not
supportive of the FSR.
For Best's Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
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. For more information, visit
www.ambest.com.
Source: A.M. Best Co.
Contact: A.M. Best Co.
Analysts
Gregory Williams, 908-439-2200, ext. 5815
gregory.williams@ambest.com
Joseph Roethel, 908-439-2200, ext. 5630
joseph.roethel@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com