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ISBA Mutual earns higher rating of 'A'The ISBA Mutual Insurance Co., now in its 20th year of service to state bar association members, has learned that it's A.M. Best financial strength rating has been increased from A- to A. The upgrade takes into consideration ISBA Mutual's "strong operating performance" in 2007 and is in line with Best's prior acknowledgement of the company's "positive rating outlook." The new rating announcement last month recognized "ISBA Mutual's extensive knowledge of the Illinois legal community and the benefits it derives as the endorsed carrier of the Illinois State Bar Association." The company's management "has employed a conservative operating strategy over the years, which has contributed to (its) consistently favorable operating results and excellent risk-adjusted capitalization," Best said, also noting high policyholder retention levels. "An 'A' rating is difficult to obtain, and this upgrade is quite a compliment to our company," said ISBA Mutual President Jon W. DeMoss. "It is especially appropriate coming during our 20th anniversary." |
