COLUMBUS, OH -- 04/02/08 --
Intermodal Insurance Company RRG has earned a
Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc.
This level of FSR is assigned to insurers who possess exceptional financial
stability related to maintaining positive surplus as regards policyholders,
liquidity of invested assets, an acceptable level of financial leverage,
reasonable loss and loss adjustment expense reserves and realistic pricing.
"We are delighted to earn a Financial Stability Rating® of A from Demotech
because it underscores how successful our insurance program has become for
Intermodal drayage firms throughout the United States," said Zack Cooper of
the company's National Program Administrator, Zack Cooper & Associates,
Inc. Cooper said the company achieved an underwriting profit of nearly
$2.5 million in the last two years. Additionally, he said the organization
has achieved a 40% annual growth rate since its inception in 2003.
FSRs summarize Demotech's opinion of the financial stability of an insurer
regardless of general economic conditions or the phase of the underwriting
cycle. FSRs utilize statutory financial data based on insurance accounting
principles prescribed or permitted by the National Association of Insurance
Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted
by the major participants in the secondary mortgage marketplace, including
Fannie Mae, Freddie Mac and HUD.
About Intermodal Insurance Company, RRG
The Intermodal Captive Insurance Program (ICIP) of Commerce, Calif., offers
truckers' liability and related insurance coverages to Intermodal drayage
firms throughout the United States. Domiciled in Washington, D.C.,
Intermodal Insurance Company was formed and is owned by the insureds in
this program. Founders of the program are Ronald Guss of Intermodal West,
Inc., Pico Rivera, J. Thomas Avery of Avery & Avery International, Inc.,
Walnut, William A. Cornell, Jr. of the James Brooks Company, Inc., Firant,
C. M. Suh of Calko Transport Co. Inc., Compton, and Asdrubal Gröshel of
Tristar Express, N.C., Inc., Oakland, all of the Intermodal Insurance
Company, which was established in 2003 and is domiciled in Washington,
D.C., and the Intermodal Contractors Association of North America (ICANA).
T. Zack Cooper, Sr., president, Zack Cooper & Associates, is the exclusive
national program coordinator.
About Demotech, Inc.
Since 1985, Demotech, Inc., a Columbus, Ohio based financial analysis and
actuarial services firm, has provided responsive services to address
actuarial and financial analysis issues, whether the issues have been for a
particular insurer or prevalent throughout the insurance industry. As the
first company to have its rating process formally reviewed and accepted by
Fannie Mae, Freddie Mac and HUD, Demotech has been leveling the playing
field by offering Financial
Stability Ratings® (FSRs) to insurers of all sizes. Demotech applies
its broad actuarial and industry experience to its
consulting services, which include pricing analysis and loss and loss
adjustment expense reserve reviews.
Visit http://www.demotech.com for more information.
Contact:
Irisa Wasson
Client Services Coordinator
Tel: 800/354-7207
Email: Email Contact
