Demotech, Inc. Reaffirms STAR Mutual RRG's "A" (Exceptional) Financial Stability Rating

Knoxville, TN — September 27, 2024

Demotech, Inc., a prominent financial analysis firm focused on assessing the financial stability of regional and specialty insurers, has reaffirmed STAR Mutual's previously awarded Financial Stability Rating® (FSR) of "A" (Exceptional) for 2024.

Reaffirming of "A" (Exceptional) FSR reflects STAR Mutual’s unwavering commitment to addressing policyholders' financial needs and ensuring their long-term wellbeing. It strongly supports the company's resilience and focus on long-term stability, even amidst sometimes challenging economic conditions.

The “A” (Exceptional) by Demotech speaks to the strength of our financial strategies and our promise to protect and support our members with steadfast reliability. We’re honored to receive this recognition, which highlights our dedication to maintaining the trust and security of our insureds.

Demotech is a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission. It evaluates insurers for this level of FSR based on factors such as:

• Maintaining surplus adequacy for policyholders,

• Ensuring asset liquidity,

• Managing financial leverage prudently,

• Holding sufficient reserves for losses and adjustments,

• And implementing realistic pricing strategies.

The organization's FSRs offer an impartial evaluation of an insurer's financial health, independent of broader economic trends or the underwriting cycle's phase. These ratings are based on statutory financial data and adhere to guidelines set by the National Association of Insurance Commissioners.

The reaffirmation of "A" (Exceptional) showcases STAR Mutual's strong financial foundation and dedication to offering reliable and consistent coverage to its members. The rating reflects the insurer’s ability to adapt and sustain long-term stability, even during periods of economic uncertainty.

For policyholders, the FSR of “A” offers tangible reassurance:

• Robust Reliability: It injects confidence that claims will be handled promptly and efficiently.

• Long-Term Stability: It assures that STAR Mutual RRG is here to protect the transportation businesses for the future.

• Affordable Solutions: It supports offering cost-effective coverage without compromising quality.

STAR Mutual RRG understands the importance of trust in the commercial auto sector. Since its establishment, the insurer has continually enhanced its capacity to adapt to the evolving needs of owner-operators and small to medium-fleet operating transportation businesses by expanding its coverage across the states and insuring a wide range of business classes.

The reaffirmation of "A" (Exceptional) rating strengthens STAR Mutual’s standing as a reliable partner for its members and reinforces the company’s mission to deliver affordable and effective insurance solutions. The recognition also affirms that STAR Mutual RRG is able to uphold its financial obligations while fostering a safe and secure environment for its members.

STAR Mutual’s members remain at the core of everything the company does. The Exceptional rating reflects our promise to provide reliable and consistent support so that our policyholders can build a future they planned.

For more details about STAR Mutual’s Financial Stability Rating from Demotech, Inc., visit Demotech’s official website.

About STAR Mutual Risk Retention Group

STAR Mutual RRG provides auto liability coverage tailored to small to medium fleet operators in the commercial auto sector. Being focused on innovative and technology-led risk management analysis, STAR Mutual RRG helps transportation businesses thrive in a currently challenged industry landscape.

To learn more about STAR Mutual RRG, visit our About page.

Contact Information:

STAR Mutual RRG
Email: info@starrrg.com
Phone: (855) 569-7827