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Insurance Carriers
U.S. Rankings
for Top 12 Workers' Compensation Insurance Companies in
Terms of
National Market Share
|
Company |
National Ranking |
Location (state) |
| State Compensation Insurance Fund |
No. 1 |
San Francisco, CA |
| Liberty Mutual Fire Insurance Co. |
No. 2 |
Boston, MA |
| Transportation Insurance Co. |
No. 3 |
Chicago, IL |
| Transcontinental Insurance Co. |
No. 4 |
Chicago, IL |
| National Union Fire Insurance Co. |
No. 5 |
Pittsburgh, PA |
| Continental Casualty Co. |
No. 6 |
Chicago, IL |
| Lumbermens Mutual Casualty Co. |
No. 7 |
Long Grove, IL |
| California Compensation Insurance
Co. |
No. 8 |
Rancho Cordova, CA |
| American Protection Insurance Co. |
No. 9 |
Long Grove, IL |
| Travelers Indemnity Co.of IL |
No. 10 |
Lisle, IL |
| Legion Insurance Co. |
No. 11 |
Philadelphia, PA |
| Insurance Co. of the State of Pennsylvania |
No. 12 |
New York, NY |
Company profiles for some of the
top Workers Compensation Insurance Companies
1. Texas Workers Compensation Insurance
Fund (Insurer Profile dated February 8, 1999)
-
Location: 221 W 6 Street Suite
300 Austin, TX 78701,
(512) 404-7972
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Texas Workers Compensation Insurance
Fund is licensed only in Texas. The company was created by the Texas legislature
in 1991 to provide a stable competitive source of workers' compensation
insurance for Texas employers, and to act as insurer of last resort. The
following factors were incorporated in the rating of 'BBBpi': Capitalization
is extremely strong, as measured by Standard & Poor's capital adequacy
ratio of over 300%. Return on revenue has averaged a satisfactory 14.8%
over the past five years. High geographic and product line concentrations
are limiting factors. Historical instability in premium revenue impacts
negatively on the rating.
-
-
States
where the company is licensed to do business
The
company's Major Lines of Business
Five-year
History ($ Mil)
2. Clarendon National Insurance (Insurer
Profile dated December 20, 1999)
Five-year
History ($ Mil)
3. Continental Casualty Group (Insurer
Profile dated June 30, 1999)
-
Location: CNA Plaza Chicago, IL
60685 Chicago, IL 60685
The company,
established in 1897, is a wholly owned
subsidiary
of CNA Financial Corp. CNA is owned by Loews
Corp.,
which holds more than 85% of
all
outstanding shares. Continental Casualty Group is the
second-largest
writer of commercial insurance in the U.S. based on
premiums
written. As a leading multi-line insurer of commercial risks, the
company
like many of its peers has experienced a drop in profitability as
market
conditions in the commercial lines market remain soft. The company
sells
its product primarily through independent agents. Management
believes
this helps the company meet customer needs. Standard & Poor's
financial
strength rating of 'A+', Strong Financial Security, is assigned to
Continental
Casualty Group
-
-
States
where the company is licensed to do business
The
Company's Major Lines of Business
Five-year
History ($ Mil)
4. FCCI Insurance Co. (Insurer Profile
dated November 29, 1999)
-
Location: 2601 Cattlemen Road Sarasota,
FL 34232 (941) 951-3603
FCCI Insurance Co. is based in Sarasota, FL and licensed in Florida,
Mississippi and Pennsylvania. Its major line of business is workers'
compensation. Formerly FCCI Mutual Insurance Co., it converted from a
mutual insurance company to a mutual insurance holding company
structure in September 1998 and changed its name. FCCI Insurance Co.,
which commenced operations in 1959, markets itself primarily through
independent general agents. Although the company is a member of FCCI
Insurance Group, a large insurance group, the rating does not include
additional credit for implied group support. Major Rating Factors:
Capitalization is extremely strong, as indicated by a Standard & Poor's
capital adequacy ratio of 295.1% at year-end 1998. However, even
greater capitalization would be required for a higher rating, given the
company's level of geographic and product line concentration. Operating
performance is extremely strong, with the average return on revenue
from 1994-1998 at 21.0%. The company has more reinsurance
recoverables from nonaffiliated companies relative to surplus, than most
higher rated insurance companies. The company's geographic and
product line concentration is high, with potential exposure to economic,
legal and regulatory risk. Currently, 100% of net premiums written are
in
Florida. The company has a history of volatility in its premium revenue.
States where the company is licensed to do business
The company's major lines of business
Five-year history ($ Mil)
5. SAIF Corp. (Insurer Profile dated
February 8, 1999)
-
Location: 400 High St SE
Salem, OR 97312, (503) 373 -3728
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Company background
-
SAIF
Corp. is licensed only in Oregon. The company is a not-for-profit, publicly
owned worker's compensation company. SAIF was created by an act of the
Oregon legislature to make inexpensive worker's compensation available
to Oregon employers. SAIF is the largest worker's compensation writer in
the state of Oregon. The following factors were incorporated in the rating
of 'BBBpi': Capitalization is extremely strong, as indicated by Standard
& Poor's capital adequacy ratio of 250.7%. Profitability is strong
and return on revenue averaged 16% over the past five years. High geographic
and product line concentrations are limiting factors. The ratio of two-year
loss development to surplus has displayed volatility over the past five
years. Standard & Poor's financial strength rating of 'BBBpi' (Rated
Good) on SAIF Corp. was assigned.
The states where the company is licensed to do
business
The company's major lines of business
Five-year history ($Mil) |
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