N14 | INSURANCE JOURNAL-NATIONAL REGION November 7, 2011 www.insurancejournal.com

By Douglas A. Powell

The Demotech Company Classification System catego-

rizes insurers into one of 11 catego-ries based on an analysis of data reported by the companies to the National Association of Insurance Commissioners (NAIC). The 11 categories that comprise the sys-tem are Nationals, Near Nationals, Super Regionals, Regionals, State Specialists, Coverage Specialists, Strategic Subsidiaries, Risk Retention Groups, Surplus Lines Carriers, Reinsurers and compa-nies with less than $1 million in direct written premium. To be categorized as a State Specialist, a carrier must be an individual, active company report-ing data to the NAIC using the P/C annual statement format at Dec. 31, 2010. It must write at least $1 mil-lion at Dec. 31, 2010, with 90 per-cent or more of its premium in one state. Further, it cannot be a sur-plus lines company, risk retention group or reinsurance company. In total, 814 companies were categorized as State Specialists for 2011. This is approximately 30 per-cent of the nearly 2,750 companies that reported data at Dec. 31, 2010.

Company Name State of 2010 Speciality TOTAL DPWTexas Mutual Insurance Co. TX 596,191Old American County Mutual Fire Insurance Co. TX 575,100SAIF Corporation OR 327,373St. Johns Insurance Co. Inc. FL 257,106Brickstreet Mutual Insurance Co. WV 239,951Farm Bureau Mutual Insurance Co. of Arkansas Inc. AR 218,667American Coastal Insurance Co. FL 203,696Nuclear Electric Insurance Limited DE 193,280Florida Peninsula Insurance Co. FL 179,272Hospitals Insurance Co. Inc. NY 174,889Royal Palm Insurance Co. FL 165,538Pioneer State Mutual Insurance Co. MI 164,492Indiana Farmers Mutual Insurance Co. IN 159,974United Property & Casualty Insurance Co. FL 157,870Louisiana Workers’ Compensation Corp. LA 152,321Adirondack Insurance Exchange NY 150,216Security First Insurance Co. FL 146,207Louisiana Farm Bureau Mutual Insurance Co. LA 141,938Rural Mutual Insurance Co. WI 141,190Mutual Insurance Co. of Arizona AZ 141,092American Transit Insurance Co. NY 124,220Homeowners Choice Property and Casualty Insurance Co. Inc. FL 116,063American Steamship Owners Mutual Protection & Indemnity Association Inc. NY 115,337Country-Wide Insurance Co. NY 112,251Missouri Employers Mutual Insurance Co. MO 109,670Kentucky Employers’ Mutual Insurance Authority KY 106,206American Integrity Insurance Co. of Florida FL 105,056Copic Insurance Co. CO 102,682Alliance United Insurance Co. CA 97,277First Protective Insurance Co. FL 96,205Olympus Insurance Co. FL 89,748Bear River Mutual Insurance Co. UT 88,212Southern Oak Insurance Co. FL 80,655New York Schools Insurance Reciprocal NY 79,331Fremont Insurance Co. MI 75,319Luba Casualty Insurance Co. LA 74,010Gulfstream Property and Casualty Insurance Co. FL 72,777Underwriters At Lloyd’s, London KY 67,002Wisconsin Mutual Insurance Co. WI 64,434Underwriters At Lloyd’s, London IL 63,977MDAdvantage Insurance Co. of New Jersey NJ 62,879Colorado Farm Bureau Mutual Insurance Co. CO 53,435Louisiana Medical Mutual Insurance Co. LA 53,231Erie and Niagara Insurance Association NY 52,362Academic Health Professionals Insurance Association-a Reciprocal Insurer NY 52,223Interboro Insurance Co. NY 50,168Sterling Insurance Co. NY 47,466Agrinational Insurance Co. VT 47,348Homeowners of America Insurance Co. TX 45,726Lawyers’ Mutual Insurance Co. CA 43,945Fiduciary Insurance Co. of America Inc. NY 43,549Ark Royal Insurance Co. FL 43,142IFA Insurance Co. NJ 43,020Dryden Mutual Insurance Co. NY 42,458New York Municipal Insurance Reciprocal NY 41,121School Boards Insurance Co. of Pennsylvania Inc. PA 41,059Wellington Insurance Co. TX 40,558Farmers Union Mutual Insurance ND 40,499Citizens United Reciprocal Exchange NJ 40,154Alabama Municipal Insurance Corp. AL 38,459Tri-State Consumer Insurance Co. NY 37,912Peoples Trust Insurance Co. FL 37,892Florida Doctors Insurance Co. FL 37,591Missouri Professionals Mutual MO 37,369Security Mutual Insurance Co. NY 37,299West Virginia Mutual Insurance Co. WV 35,550Germantown Mutual Insurance Co. WI 35,099Farmers Mutual Fire Insurance Co. of Salem County NJ 34,301Hamilton Insurance Co. TN 33,425Madison Mutual Insurance Co. IL 33,392Kingstone Insurance Co. NY 33,249Crusader Insurance Co. CA 32,698Unique Insurance Co. IL 32,388Kansas Medical Mutual Insurance Co. KS 32,011Hawaii Employers’ Mutual Insurance Co. Inc. HI 31,673Global Liberty Insurance Co. of New York NY 31,334Ram Mutual Insurance Co. MN 30,383Edison Insurance Co. FL 30,275Farmers Insurance Co. of Flemington NJ 28,409

Company Name State of 2010 Speciality TOTAL DPWGerman Mutual Insurance Co. OH 27,820Discovery Insurance Co. NC 27,791First Home Insurance Co. FL 26,595Prepared Insurance Co. FL 25,881Care West Insurance Co. CA 25,045Windhaven Insurance Co. FL 23,770Texas Lawyers’ Insurance Exchange TX 23,423Ascendant Commercial Insurance Inc. FL 23,274Lighthouse Property Insurance Corp. LA 22,767Sterling Casualty Insurance Co. CA 22,674National Automotive Insurance Co. LA 22,276NC Grange Mutual Insurance Co. NC 22,155Agent Alliance Insurance Co. NC 21,950Housing and Redevelopment Insurance Exchange PA 21,590Eveready Insurance Co. NY 21,567Center Mutual Insurance Co. ND 21,341Springfield Insurance Co. CA 21,256Bremen Farmers Mutual Insurance Co. KS 21,205NHRMA Mutual Insurance Co. IL 20,820League of Wisconsin Municipalities Mutual Insurance WI 20,784Conventus Inter-Insurance Exchange NJ 20,445CIFG Assurance North America Inc. NY 20,249Idaho Counties Risk Management Program ID 19,657Retailers Casualty Insurance Co. LA 19,268Professional Casualty Association PA 18,312Granada Insurance Co. FL 18,070Marysville Mutual Insurance Co. KS 17,787Seven Seas Insurance Co. Inc. FL 17,395Otsego Mutual Fire Insurance Co. NY 17,258Illinois State Bar Association Mutual Insurance Co. IL 16,925Farmers Union Mutual Insurance Co. MT 16,805Samsung Fire & Marine Insurance Co. Ltd. (US Branch) NY 16,773Mt. Morris Mutual Insurance Co. WI 16,731Harbor Insurance Co. OK 16,547Park Insurance Co. NY 16,231Upland Mutual Insurance Inc. KS 16,155Maya Assurance Co. NY 16,087Michigan Professional Insurance Exchange MI 15,986Interstate Bankers Casualty Co. IL 15,857Peachtree Casualty Insurance Co. FL 15,565Farm Credit System Association Captive Insurance Co. CO 14,498Sawgrass Mutual Insurance Co. FL 14,374US Lloyds Insurance Co. TX 14,335American Risk Insurance Co. Inc. TX 14,189New Jersey Physicians United Reciprocal Exchange NJ 14,110Baldwin Mutual Insurance Co. Inc. AL 14,090Midstate Mutual Insurance Co. NY 13,716Northern Mutual Insurance Co. MI 13,238The Responsive Auto Insurance Co. FL 13,092Allegany Co-Op Insurance Co. NY 12,811Southern Mutual Insurance Co. GA 12,790Nevada Mutual Insurance Co. Inc. NV 12,724Mennonite Mutual Insurance Co. OH 12,638Independent Nevada Doctors Insurance Exchange NV 12,608OHA Insurance Solutions Inc. OH 12,582The Farmers Fire Insurance Co. PA 12,468Wayne Cooperative Insurance Co. NY 12,356Avatar Property & Casualty Insurance Co. FL 12,056West Virginia Insurance Co. WV 12,033Usplate Glass Insurance Co. FL 11,799Florida Lawyers Mutual Insurance Co. FL 11,744Direct Auto Insurance Co. IL 11,731Lebanon Mutual Insurance Co. PA 11,622The USA Insurance Co. MS 11,525Fairmont Farmers Mutual Insurance Co. MN 11,077Medical Alliance Insurance Co. IL 11,011Farmers Mutual Fire Insurance Co. of Marble, Pennsylvania PA 10,843German American Farm Mutual TX 10,787Cities & Villages Mutual Insurance Co. WI 10,305Star & Shield Insurance Exchange FL 10,232Finger Lakes Fire and Casualty Co. NY 9,597Spring Valley Mutual Insurance Co. MN 9,258The Members Insurance Co. NC 9,235Oklahoma Attorneys Mutual Insurance Co. OK 9,153The Paramount Insurance Co. MD 8,905Insurance Placement Facility of Pennsylvania PA 8,859Healthcare Underwriters Group of Florida FL 8,836Positive Physicians Insurance Exchange PA 8,801Pennsylvania Physicians Reciprocal Insurers PA 8,779Nations Insurance Co. CA 8,769Bell United Insurance Co. NV 8,555

The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers

State Specialists SPECIAL REPORT

2011 State Specialist Property/Casualty Insurers

continued on page N16

For more information

877.247.9772

theone@crumpins.com

www.crumpins.com

We’ve Got ‘Em.

We not only have access to a variety of markets, but we have numerous solutions.

Whether your clients need the specialized services of a program designed for their

industry, a brokered solution that calls for a combination of complex coverages or

a simple online solution for basic insurance protection, we have the right answer.

Pick up the phone and give us a call today.

There are over 50 Crump offi ces throughout the U.S., waiting to hear from you.

Strength and Stability Matter

Pro

pe

rty

& C

asu

alt

y

■

L

ife

■

R

eti

rem

en

t S

erv

ice

s

IJ_Want Ad_Oct _2011.indd 1 10/21/11 1:57 PMCRUMP15465.indd 1 10/25/11 2:11 PM2011-11-07 NATIONAL.indd 14 11/1/11 2:12 PM

N16 | INSURANCE JOURNAL-NATIONAL REGION November 7, 2011 www.insurancejournal.com

This group wrote about 15 percent of the industry’s direct written premium in 2010. “State Specialists are typically the independent agent’s most reliable and consistent markets. These companies are dedicated to a geographic area, understand it and consistently strive to serve it. Demotech is pleased to provide State Specialists with the attention they deserve,” said Demotech’s President Joseph Petrelli. As space limitations precluded an enumeration of each of the 814 State Specialists, the accompanying list includes the 341 State Specialist insurers that are not affiliated with a group. A full list of State Specialists is available by contacting dpowell@demotech.com.

Powell is a senior financial analyst with Demotech Inc., the official research partner of Insurance Journal. Founded in 1985, Demotech is a Columbus, Ohio-based financial analysis firm that provides services to regional insur-ance companies, title underwriters and spe-cialty insurance markets. Demotech has been assigning Financial Stability Ratings® (FSRs) to these markets since 1992. FSRs of A or bet-ter are accepted by the secondary mortgage marketplace, as well as virtually all mortgage lenders, an increasing number of umbrella insurance markets and some writers of insur-ance agents errors and omissions insurance. Web site: www.demotech.com.

North Country Insurance Co. NY 8,429Capitol Insurance Co. PA 8,416Farmers Union Mutual Insurance Co. AR 8,360Manufacturing Technology Mutual Insurance Co. MI 8,332Chautauqua Patrons Insurance Co. NY 8,157Physicians Insurance Co. FL 8,113McMillan Warner Mutual Insurance Co. WI 8,103Casualty Corp. of America Inc. OK 8,010Associated Mutual Insurance Cooperative NY 7,625Kansas Mutual Insurance Co. KS 7,624Halifax Mutual Insurance Co. NC 7,520Battle Creek Mutual Insurance Co. NE 7,454American Fellowship Mutual Insurance Co. MI 7,364Physicians’ Insurance Program Exchange PA 7,328Texas Hospital Insurance Exchange TX 7,327Physicians Professional Indemnity Association MO 7,323Dealers Choice Mutual Insurance Inc. NC 7,259Georgia Mutual Insurance, a Stock Co. GA 7,176CEM Insurance Co. TX 7,159Nazareth Mutual Insurance Co. PA 7,136Farmers Mutual Fire Insurance Co. OK 7,115Kensington Insurance Co. NY 7,048ARECA Insurance Exchange AK 7,031Southern Eagle Insurance Co. FL 7,025Farmers Mutual of Tennessee TN 6,909Waco Fire & Casualty GA 6,859Reamstown Mutual Insurance Co. PA 6,735Lawyers Mutual Insurance Co. of Kentucky KY 6,650Mid-Hudson Co-Operative Insurance Co. NY 6,398Elephant Insurance Co. VA 6,350Leatherstocking Cooperative Insurance Co. NY 6,344Union Mutual Insurance Co. OK 6,316Synergy Insurance Co. NC 6,312Districts Mutual Insurance WI 6,171American Millennium Insurance Co. NJ 6,047Healthcare Underwriters Group Mutual of Ohio OH 6,039Healthcare Underwriters Group of Kentucky KY 6,022Callicoon Co-Operative Insurance Co. NY 6,015First Benefits Insurance Mutual Inc. NC 5,938Ohio Bar Liability Insurance Co. OH 5,841Broome Co-Operative Insurance Co. NY 5,670Oswego County Mutual Insurance Co. NY 5,484Fulmont Mutual Insurance Co. NY 5,477Georgia Dealers Insurance Co. GA 5,426Alaska Timber Insurance Exchange AK 5,365Farmers Mutual Insurance Co. WV 5,363Central Co-Operative Insurance Co. NY 5,324Comptrust AGC Mutual Captive Insurance Co. GA 5,318First Mutual Insurance Co. NC 5,250Hospitality Mutual Insurance Co. MA 5,172Delta Lloyds Insurance Co. of Houston, Texas TX 5,156Interstate Auto Insurance Co. Inc. MD 5,107Victory Insurance Co. Inc. MT 5,094Laundry Owners Mutual Liability Insurance Association PA 5,037Texas Builders Insurance Co. TX 4,952Workers Compensation Exchange ID 4,844Alliance Mutual Insurance Co. NC 4,841Manitowoc Mutual Insurance Co. WI 4,823Hartland Mutual Insurance Co. ND 4,822Maple Valley Mutual Insurance Co. WI 4,808Wisconsin Lawyers Mutual Insurance Co. WI 4,740AGIC Inc. FL 4,725Juniata Mutual Insurance Co. PA 4,717Americas Insurance Co. LA 4,692Merced Mutual Insurance Co. CA 4,682Health Care Insurance Reciprocal MN 4,667Bedford Grange Mutual Insurance Co. PA 4,542Genesee Patrons Cooperative Insurance Co. NY 4,473Wisconsin Municipal Mutual Insurance Co. WI 4,379Ontario Insurance Co. NY 4,378Freedom Advantage Insurance Co. PA 4,304Trans City Casualty Insurance Co. AZ 4,282Springfield Fire & Casualty Co. IL 4,266Preferred Auto Insurance Co. Inc. TN 4,254Briar Creek Mutual Insurance Co. PA 4,234Farmers Mutual Fire Insurance Co. of McCandless Township PA 4,233Health Care Mutual Captive Insurance Co. GA 4,232Texas Medical Insurance Co. TX 4,216Capacity Insurance Co. FL 4,211Missouri Valley Mutual Insurance Co. SD 3,976Farmers and Merchants Mutual Fire Insurance Co. MI 3,954Madison Mutual Insurance Co. NY 3,777Great Lakes Mutual Insurance Co. MI 3,767Building Industry Insurance Association Inc. VA 3,751Gem State Insurance Co. ID 3,748Midrox Insurance Co. NY 3,713Normandy Harbor Insurance Co. Inc. FL 3,654California Mutual Insurance Co. CA 3,654Community Mutual Insurance Co. NY 3,629Sheffield Insurance Co. TN 3,553National Home Warranty Inc. NV 3,551Sunderland Marine Mutual Insurance Co. Ltd. AK 3,516

Company Name State of 2010 Speciality TOTAL DPW

Company Name State of 2010 Speciality TOTAL DPW

Indemnity National Insurance Co. KY 3,497Agents Mutual Insurance Co. AR 3,470Tank Owner Members Insurance Co. TX 3,429Retailers Mutual Insurance Co. MI 3,381Transit Mutual Insurance Corporation of WI WI 3,358Utah Business Insurance Co. Inc. UT 3,332Petroleum Marketers Management Insurance Co. IA 3,321Synergy Comp Insurance Co. PA 3,250Doctors Direct Insurance Inc. IL 3,249Ethio-American Insurance Co. Inc. GA 3,248Safe Insurance Co. WV 3,245Little Black Mutual Insurance Co. WI 3,199Penncommonwealth Casualty of America Corp. PA 3,195Arrow Mutual Liability Insurance Co. MA 3,153US Insurance Co. of America IL 3,145Northern Plains Insurance Co. SD 3,136Friends Cove Mutual Insurance Co. PA 3,112CBIA Comp Services Inc. CT 3,090Carolina Farmers Mutual Insurance Co. NC 3,088Piedmont Mutual Insurance Co. NC 3,076National Direct Insurance Co. NV 3,057Wilmington Insurance Co. DE 3,054Hay Creek Mutual Insurance Co. MN 3,021United Frontier Mutual Insurance Co. NY 3,017New Mexico Property and Casualty Co. NM 3,004National Heritage Insurance Co. IL 2,982Geneva Insurance Co. IN 2,901Whitecap Surety Co. MN 2,892United Casualty and Surety Insurance Co. MA 2,878American Alliance Casualty Co. IL 2,745Galen Insurance Co. MO 2,658Garden State Indemnity Co. Inc. NJ 2,610Road Contractors Mutual Insurance Co. TN 2,565Farmers Mutual Insurance Co. KS 2,556Washington County Co-Op Insurance Co. NY 2,542Town and Country Mutual Insurance Co. AR 2,499Mound Prairie Mutual Insurance Co. MN 2,483Integra Insurance Inc. MN 2,439Vasa-Spring Garden Mutual Insurance Co. MN 2,425Pan Handle Farmers Mutual Insurance Co. of West Virginia WV 2,416Bloomfield Mutual Insurance Co. MN 2,416Quality Casualty Insurance Co. Inc. AL 2,402Heartland Mutual Insurance Co. MN 2,393Mt Carroll Mutual Insurance Co. IL 2,385Mutual Insurance Co. of Lehigh County PA 2,355First Jersey Casualty Insurance Co. Inc. NJ 2,320United Business Insurance Co. (a Mutual Captive) GA 2,301Alamance Farmers Mutual Insurance Co. NC 2,293Great Plains Casualty Inc. IA 2,221Ellington Mutual Insurance Co. WI 2,207Western Mutual Fire Insurance Co. MN 2,159Centre County Mutual Fire Insurance Co. PA 2,143British American Insurance Co. TX 1,994Palmetto Surety Corp. SC 1,895Lincoln Mutual Insurance Co. NC 1,809Hannahstown Mutual Insurance Co. PA 1,774Tift Area Captive Insurance Co. GA 1,714Otsego County Patrons Co-Operative Fire Relief Association NY 1,700Primeone Insurance Co. MI 1,698Farmers’ Mutual Insurance Co. MI 1,694Benefit Security Insurance Co. IL 1,649TPA Captive Insurance Co. GA 1,627Farmington Mutual Insurance Co. WI 1,575Black Diamond Insurance Co. NV 1,544Indiana Old National Insurance Co. IN 1,498Commonwealth Mutual Insurance Co. of America MD 1,481Distributors Insurance Co. TN 1,471First Surety Corp. WV 1,469Conemaugh Valley Mutual Insurance Co. PA 1,441Professional Insurance Exchange UT 1,416Transit General Insurance Co. IL 1,400Slavonic Mutual Fire Insurance Association TX 1,397Club Insurance Co. OH 1,395Wall Rose Mutual Insurance Co. PA 1,389Mower County Farmers Mutual Insurance Co. MN 1,379Legal Mutual Liability Insurance Society of Maryland MD 1,368Farmers & Mechanics Mutual Insurance Association of Cecil County Inc. MD 1,326Peninsular Surety Co. FL 1,234Yel County Insurance FL 1,198Physicians Insurance Mutual MO 1,182Professional Aviation Insurance Reciprocal NV 1,167Medmal Direct Insurance Co. FL 1,141Bondex Insurance Co. NJ 1,137Canonsburg Mutual Fire Insurance Co. PA 1,121Clearfield County Grange Mutual Fire Insurance Co. PA 1,095Farmers Mutual Fire Insurance Co. of Branch County MI 1,084Columbia Federal Insurance Co. DC 1,045Grange Mutual Fire Insurance Co. PA 1,031Atlantic Bonding Co. Inc. MD 1,025

State Specialists SPECIAL REPORT

Demotech, continued from page N14

AMIG_IJ_FLPG_NOV .indd 1 9/30/2011 2:20:33 PMAMERGRP15408.indd 1 10/3/11 3:37 PM2011-11-07 NATIONAL.indd 16 10/31/11 10:27 AM