Cypress Property & Casualty's A, Exceptional, rating was affirmed by Demotech. | Unsplash
Cypress Property & Casualty Insurance Co. earned an A, Exceptional, Financial Stability Rating from Demotech, which anticipates the insurer having a positive surplus regarding its policyholders 18 months from its rating affirmation.
Insurers assigned this FSR level also have financial leverage at an acceptable level, realistic pricing and reasonable loss and loss adjustment expense reserves. They also have stability in their liquidity of invested assets, Demotech said in a press release.
The financial analysis firm issues FSRs, which are the firm’s opinion of an insurer’s financial stability no matter what phase the underwriting cycle is in or the general economic conditions. Demotech said it bases its FSRs using insurance accounting principles set by the National Association of Insurance Commissioners through the use of statutory financial data.
Cypress, based in Jacksonville, Florida, said its Florida agents and policyholders had access to competitively-priced insurance products for business owners and property owners, according to the press release.
The secondary mortgage marketplace accepted insurance carriers with FSRs of A or better since 1989, Demotech reported.
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