STAR Mutual RRG Earns Prestigious B+ (Good) Rating from A.M. Best

Knoxville, TN — August 30, 2024

STAR Mutual Risk Retention Group (RRG) proudly announces its Financial Strength Rating of "B+" (Good) with a stable outlook awarded by A.M. Best. The global credit rating agency is well-known for its comprehensive evaluation of the insurance industry.

Only 31.2% of all active RRGs carry a financial rating today. The “B+” marks a significant milestone for the insurance carrier. It indicates a strong financial position and the ability to meet policyholder obligations. At the same time, a stable outlook underscores confidence in STAR Mutual’s ability to sustain its financial health and operational performance while carefully growing its portfolio.

The rated stability is a testament to Star Mutual's mission and commitment, ensuring a steady trajectory for the company and instilling a sense of security in its operations for its policyholders.

The “B+” (Good) rating is a huge milestone for STAR Mutual. It is proof of our dedication to always putting our members first and staying financially strong to deliver our services. We’re here to drive reliable, affordable insurance solutions that meet the needs of commercial auto operators.

The rating from A.M. Best, along with a stable outlook, highlights STAR Mutual’s:

• Solid financial footing,

• Smart risk management strategies,

• And the ability to meet ongoing insurance obligations.

In their review, A.M. Best underscores STAR Mutual's consistent growth, cautious investments, and effective reinsurance program. These factors ensure the insurance carrier is prepared for risks and remains steady and secure for its policyholders. The evaluation also notes that the company’s operating performance aligns with companies of similar ratings in the commercial auto liability sector.

STAR Mutual RRG specializes in monoline commercial auto liability coverage, which is designed specifically for owner-operators and small- to medium-sized fleets. This enables the insurer to address the sector's unique challenges effectively. The company stays ahead of the industry trends by bringing practical, effective tools to help its members thrive. The A.M. Best recognition strengthens STAR Mutual’s status as a dependable partner for its stakeholders.

Since its inception, the insurance carrier’s defining strength has been its approach to risk. The members receive guidance on industry best practices, as well as tools to help them identify and mitigate potential risks. This proactive mindset has proven essential to maintaining the company’s financial health and the stability of its coverage offerings.

The ”B+” reflects how STAR Mutual RRG prioritizes the long-term success of its members while navigating the complexities of the commercial auto insurance sector. The earned rating is more than just a validation of the insurer's financial standing; it's a reaffirmation of the trust and partnership it shares with its members.

The rating is a shared achievement, made possible by the trust and support of our members. Together, we're building a secure, dependable future in commercial auto insurance.

STAR Mutual RRG believes that earning an A.M. Best rating is just the beginning. The company remains committed to continuous improvement—whether enhancing its coverage options, investing in new technologies, or further strengthening its financial position. The insurance carrier is dedicated to making sure their members feel secure and supported as they navigate the challenges of today’s transportation industry.

For more details about STAR Mutual's AM Best rating, visit the official AM Best company profile. To read the full AM Best press release, click here.

About STAR Mutual Risk Retention Group

STAR Mutual RRG provides liability coverage for small to medium fleet operators in the commercial auto sector. STAR Mutual RRG aims to empower transportation companies to achieve improved operations, long-term stability, and overall growth by supporting them with sound risk management practices and a technology-driven approach.

For more information, visit STAR Mutual RRG's About page.

Contact Information:

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