AM Best has upgraded Prescient National Insurance Company’s Financial Strength Rating to A (Excellent). “The Company welcomes AM Best’s decision to upgrade the financial strength rating to A (Excellent),” stated Scott Grant, Treasurer and Chief Financial Officer of Prescient National. “This decision further testifies to Prescient National’s financial strength and is supported by average claim costs that consistently outperform the industry. Our A (Excellent) Rating would not have been possible without the dedication from our employees, the support from our agents, and the trust of our policyholders.”
Prescient National Insurance Company received an initial AM Best Rating of A- (Excellent) in 2019 with the rating reaffirmed in 2020. With the recent upgrade to A (Excellent) in 2021 and approval in 25 states, Prescient National’s long-term vision to become a standalone insurance company has come to fruition.
As part of our next chapter, Prescient National is quickly expanding state licenses. Since the start of 2021, Prescient National Insurance Company has added seven states to our territory and is on track to complete our push to a national market by the end of 2022. This expansion will allow the company to write business without fronting agreements. Our current fronting program is scheduled to end December 31, 2022. In addition, policies effective January 1, 2022 and after written under the MGA program will be transitioned to Prescient National Insurance Company. These actions complete our planned transition from our beginnings as an MGA to a highly rated national workers’ compensation insurance company.
Click here for the AM Best press release.
For the latest Best’s Credit Rating, access www.ambest.com
