OLDWICK, N.J.--(BUSINESS WIRE)--Aug 1, 2018--A.M. Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of the members of the Doctors Company Insurance Group. The outlook of these Credit Ratings (ratings) is stable. (See below for a list of companies.)

The ratings reflect the Doctors Company Insurance Group’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The balance sheet strength is supported by strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), consistently favorable loss reserve development, reasonable liquidity and low financial leverage. The group’s underwriting performance also has been solid over the past number of years, with most return metrics in line with its peer group. The business profile assessment reflects the group’s standing as the second-largest medical professional liability (MPL) insurance provider in the United States, and the largest physician-owned MPL insurance provider. The group is endorsed by physician professional societies, representing more than 200,000 doctors, across the country. The group’s wide geographic diversification is partially offset by high product concentration, as nearly all of its business is in the MPL insurance line. With regard to its ERM, the group has a culture of risk awareness and a framework to identify and manage various different types of risks, a process A.M. Best views as appropriate for its risk profile.

Further positive rating action could result if key operating performance measurers outpace those of the peer MPL composite as the group manages through the current competitive cycle within the MPL insurance market while maintaining its balance sheet strength assessment at the strongest level. Negative rating action could result from adverse reserve development or unfavorable trends in claims frequency or severity that materially impair underwriting profitability and lead to deteriorating operating trends or cause weakening in risk-adjusted capitalization.

The Long-Term ICRs have been upgraded to “a+” from “a” and the FSR of A (Excellent) affirmed for the members of the Doctors Company Insurance Group:

Doctors Company, An Interinsurance Exchange TDC Specialty Insurance Company TDC National Assurance Company TDC Special Risks Insurance Company The Doctors Company Risk Retention Group, a Reciprocal Exchange

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view .

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Jieqiu Fan, +1 908 439 2200, ext. 5372

Senior Financial Analyst



Charles M. Huber, +1 908 439 2200, ext. 5122




Christopher Sharkey,+1 908 439 2200, ext. 5159

Manager, Public Relations



Jim Peavy, +1 908 439 2200, ext. 5644

Director, Public Relations





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PUB: 08/01/2018 10:29 AM/DISC: 08/01/2018 10:29 AM