AM Best has announced that Madison-based Rural Mutual Insurance Company has earned a Financial Strength Rating of A+ (Superior) for the fifth year in a row. Rural Mutual is one of seven single state insurers in the U.S. and the only single state insurer in Wisconsin to receive an A+ rating.
AM Best is a global rating agency with a unique focus on the insurance industry. Their rating is based on their opinion of a company’s ability to pay claims, debts and other financial obligations in a timely manner. Only a small percentage of U.S. Property & Casualty insurance companies overall are awarded an A+ (Superior) rating from the agency, and achieving the highest rating is especially rare for single state insurers.
Rural Mutual’s strong balance sheet and operating performance has allowed them to grow policyholder surplus for 79 consecutive quarters. A few of the enhancements include new initiatives to support customers by updating underwriting guidelines, offering a new e-pay claims settlement option, and improved customer self-service payment methods.
Dan Merk, Rural Mutual Executive Vice President & CEO, credits the company’s success to its dedicated employees and agents who keep their unwavering focus on providing exceptional protection for Wisconsin.
“As a single state writer, it is a rare feat to be rated A+. The collaborative efforts and support of our employees make this success possible. Having financial stability is reassuring for our policyholders to feel confident putting their trust in us that we’ll be there when they need us most.”
Rural Mutual has protected Wisconsin farmers, families and businessowners since 1934. The company does business in only one state, so premiums paid here, stay here to keep Wisconsin strong.
