[MLT] North American And Bermudian Insurers See Little Change In ERM Scores Despite Significant Catastrophe Losses And Macroeconomic Uncertainty Apr 12
- Language: English
- Published: April 2012
- Region: Bermuda, North America, United States
The insurer financial strength ratings on Hochheim Prairie Farm Mutual Insurance Assoc. (HPFM) and its wholly owned subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC), reflect HPFM's relatively small capital base regarding its large probable maximum loss exposure, limited market breadth in Texas, and earnings volatility due to severe weather catastrophe and occasional intense competition. However, mitigating these negative factors is the company's strong relationship with its independent agents and customers, the flexibility it has to change rates and forms because of its Texas mutual insurance company status, and its historical profitability. HPFM's competitive position is adequate within its target niche. The company insures homes, automobiles, and businesses in small towns in Texas. The company's heavy concentration in rural Texas exposes...
Companies mentioned in this report are: Hochheim Prairie Farm Mutual Insurance Assoc.
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Hochheim Prairie Farm Mutual Insurance Assoc.