COLUMBUS, Ohio, July 12, 2022 /PRNewswire/ -- Demotech, Inc., the first to review and rate independent, regional and specialty insurers, has assigned a Financial Stability Rating® (FSR) of A, Exceptional, to Connecticut Foundation Solutions Indemnity Company, Inc. This level of FSR is assigned to insurers who possess exceptional financial stability, readily available, liquid invested assets to honor claims, an acceptable level of financial leverage, and reasonable loss and loss adjustment expense reserves, based upon their commitments.
Demotech's President and co-founder, Joseph Petrelli, stated, "It is our pleasure to add Connecticut Foundation Solutions Indemnity Company, Inc. to the growing list of Demotech rated carriers. In my opinion, the creation of this company is an enlightened example of a public-private relationship as well as the intersection of the concepts of environmental, social, and governance."
"My board of directors and I are very gratified to get this rating," said Michael Maglaras, Principal of Michael Maglaras & Company, the outsourced management company supplying Superintendent services to CFSIC. "The Demotech assessment process is vigorous and highly detailed. We had no idea about the outcome in advance, and we are enormously pleased with this recognition of our operational excellence."
About Connecticut Foundation Solutions Indemnity Company, Inc.
Connecticut Foundation Solutions Indemnity Company, Inc. is chartered and licensed as a captive insurer to assist the State of Connecticut with the fair and equitable adjustment of homeowner claims resulting from the pyrrhotite-affected home foundations natural disaster. Its mission is to use its available resources to adjust and pay claims for the rebuilding of as many pyrrhotite-affected home foundations as those resources will permit. Visit www.crumblingfoundations.org for additional information and disclosures.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of independent, regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Visit www.demotech.com for additional information on how we can assist you.
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SOURCE Demotech, Inc.