Raleigh, North Carolina-based Builders Mutual Group has had its “A” (Excellent) rating reaffirmed by A.M. Best Company.
The agency announced its decision last week, making the 17th consecutive strong rating for Builders Mutual.
“The ratings reflect the group’s strong risk-adjusted capitalization, profitable operating performance and stable loss reserving trends driven by effective loss control practices and aggressive claims management,” A.M. Best said in the release.
“The ratings also reflect the group’s local market expertise and affiliation with the North Carolina Home Builders Association, of which a majority of its members obtain workers’ compensation coverage through Builders Mutual.”
Builders Mutual, which writes commercial insurance for the construction industry in the Southeast and Mid-Atlantic, celebrated the news.
“At builders Mutual, we are dedicated to maintaining a stable and profitable environment for our stakeholders,” said John Boggs, president and chief executive officer for the insurer. “The A.M. Best ‘A’ rating reiterates the stability of our company and solidifies BMIC’s position as a leading carrier of insurance products for the construction industry.”
The company provides coverage to more than 19,000 policyholders through 4,000 insurance agents.
