Chicago, IL, June 9, 2022 — Prime Insurance Company announced today that it has been assigned a Financial Stability Rating® of A′′ (A Double Prime), Unsurpassed, from Demotech, Inc.
Demotech, Inc., is a financial analysis firm that provides Financial Stability Ratings® (FSRs) for Property & Casualty insurance companies, Title underwriters, and other risk-bearing entities.
In addition, Prime Insurance Company’s affiliate Prime Property & Casualty Insurance Inc. has been assigned a Financial Stability Rating® of A, Exceptional, from Demotech, Inc.
According to Demotech, “regardless of the severity of a general economic downturn or deterioration in the insurance cycle, underwriters receiving an A” (A Double Prime) or an A, Exceptional rating possess unsurpassed financial stability related to maintaining positive surplus as regards policyholders.” “We couldn’t be more pleased,” says Rick J. Lindsey, President, CEO and Chairman of Prime Insurance Company, “as Demotech’s ratings reflect our unyielding commitment to our customers and growth.”
Prime Insurance Company provides innovative liability solutions for specialty risks. For over 40 years, Prime Insurance Company has been a leader in excess and surplus lines insurance, providing coverage for many who would otherwise be forced to go uninsured or self-insure their risk.
Prime Property & Casualty Insurance Inc. writes commercial auto coverage on an admitted basis in the following states: Florida, Illinois, Kansas, Kentucky, Massachusetts, Minnesota, North Carolina, New Jersey, New Mexico, Nevada, and South Carolina.
Adds Lindsey, “With more than 40 years behind us, we’ve handled over 70,000 claims. We look forward to continuing to serve our customers with our proven partnership approach and financial stability they can count on.”
The Prime Insurance Companies have offices in Salt Lake City, UT; Chicago, IL; Naples, FL and Exton, PA. For more information visit www.primeis.com.
Contact: Rick J. Lindsey, President, CEO and Chairman, RJL@primeis.com or call 801-304-5510.
- Prime Insurance Company – https://www.demotech.com/company/12588/
- Prime Property & Casualty Insurance Inc. – https://www.demotech.com/company/14371/
The most current Financial Stability Rating® must be verified by visiting www.demotech.com
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick J. Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Read more…