The ratings for CUMIS
recognize its supportive level of risk-adjusted capitalization, conservative balance sheet, overall operating profitability and well-established niche position in the credit union and multi-peril crop insurance segments.
Group Enables End-Users to Drive Down into Details and Make Better Business Decisions
The upgrading of the ratings for ProAg is based on the revision of a quota share reinsurance agreement with its affiliate, CUMIS
said it reported Fortson to law enforcement, but did not say how law enforcement had responded.
Carlos Molina, risk management consultant in the Credit Union Protection's Risk Management Division at CUMIS
, said credit unions, as member-focused service providers, are considered easier prey because they often sacrifice security to provide service.
A member of the CUNA Mutual Group, CUMIS
is a leading provider of equipment maintenance insurance to credit unions, and Great American expects this transaction to expand its market share in equipment management for the credit union and financial services segments.
Best affirmed the financial strength rating of CUMIS
Insurance Society at "A" (excellent) and also upgraded the financial strength rating of Producers Agriculture Insurance Co.
has revised the outlook to stable from negative and affirmed the financial strength ratings (FSR) of A (Excellent) and issuer credit ratings (ICR) of "a" of CUNA Mutual Insurance Society (CMIS)as well as CUMIS
Insurance Society Group (CUMIS
) and its members, CUMIS
Insurance Society, Inc.
Asked to comment for this article, CUNA Mutual, whose CUMIS
unit had been the insurer for WesCorp principals until the NCUA cancelled coverage after it put the institution into conservatorship, had not responded by press time.
Partially offsetting these strengths are Co-operators Life's challenges to successfully penetrate the Quebec market, transition issues as it integrates the CUMIS
General Insurance Company (CUMIS
) acquisition and competition from larger competitors.
Because WesCorp's CUMIS
policy did not cover Lane for "any liability" as promised by Policy 21, WesCorp breached its promise.
DCR) has upgraded the claims paying ability rating of Century Life of America (CLA) from 'AA-' (Double-A-Minus) to 'AA' (Double-A) and reaffirmed the claims paying ability ratings of both CUNA Mutual Insurance Society (CUNA Mutual) and its wholly owned property and casualty subsidiary, CUMIS
Insurance Society, Inc.