AM Best has announced that Madison-based Rural Mutual Insurance Company has earned a Financial Strength Rating of A+ (Superior) for the sixth year in a row. Rural Mutual is one of six single-state insurers in the United States 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. They are continually prioritizing product and customer service enhancements to improve policies to better fit insured’s needs.
Dan Merk, Rural Mutual executive vice president & CEO, credits the company’s success to its strong reputation built on years of success, excellent products and unwavering service that its employees and agents provide to their customers.
“Reaffirming our Superior rating is not something we take for granted. It’s been a tough year for many carriers due to several factors,” said Merk. “We’re very fortunate to remain financially stable with a positive financial outlook. Our employees and agents continue to show their dedication to protecting Wisconsin.”
Rural Mutual has protected Wisconsin farmers, families and business owners since 1934. The company does business in only one state, so premiums paid here, stay here to keep Wisconsin strong.
