||New York Schools Insurance Reciprocal was issued a secure rating by the A.M. Best Company.
Following another successful year for NYSIR, insurance analyst A.M. Best has affirmed the reciprocal’s Long-Term Issuer Credit Rating to ‘a+’ and has affirmed the Financial Strength Rating of the company as A (Excellent).
According to A.M. Best, “the ratings reflect NYSIR’s excellent risk-adjusted capitalization, long-standing market presence and positive operating results over the past five years.” The reciprocal, the agency added, has consistently outperformed the commercial property and casualty industry and has maintained high subscriber retention rates.
NYSIR executive director Robert W. Lulley, Jr. said “the strong rating reflects the company’s overall strategy of providing comprehensive, school focused coverages and services at pricing that is actuarially sound and competitive.”
“We’re gratified by A.M. Best’s positive ratings,” he added, “and look forward to continuing to provide our schools and member districts with high-quality, cost-effective coverage.”