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Builders Mutual Announces A.M. Best Rating Reaffirmed

Thu May 6, 2010

Raleigh, N.C. – Builders Mutual Insurance Company is pleased to announce that our rating of A (Excellent) was reaffirmed by A.M. Best Company, the leading source for information on the financial condition and operating performance of insurance companies worldwide, on April 27, 2010.  According to A.M. Best, “The rating for Builders Mutual Insurance Group (BMIG) is based on the consolidation of Builders Mutual Insurance Company (BMIC), and its 100% reinsured subsidiary, Builders Premier Insurance Company (BPIC). The rating reflects the group's excellent capitalization, historically profitable operating performance and solid loss reserve development trends driven by effective loss control practices and aggressive claims management. The rating also reflects the group's local market expertise and affiliation with the North Carolina Home Builders Association (NCHBA), of which the majority of its members obtain workers' compensation coverage through BMIC.”

“We are proud to have maintained an A (Excellent) rating with A.M. Best for the past eleven years,” states John Boggs, President and Chief Executive Officer of Builders Mutual.  “Our ability to sustain the A rating given the current economic climate, with high unemployment and a decline in housing construction, is indicative of our stability, financial strength and ability to meet the needs of our policyholders.”

At Builders Mutual we believe in a strong safety culture and are committed to maintaining stability for our customers during these challenging times.  Our A rating from A.M. Best solidifies our position as the insurance company “where builders come first.”

Headquartered in Raleigh, Builders Mutual is one of the Southeast’s leading writers of commercial insurance for the residential and commercial construction industries and is rated A (Excellent) by A.M. Best Company.  Since its inception, Builders Mutual has broadened its territory beyond North Carolina to include the District of Columbia, Georgia, Maryland, Mississippi, South Carolina, Tennessee and Virginia.  The company provides coverage to more than 14,000 policyholders through more than 3,000 sales agents and employs more than 160 staff at its Raleigh headquarters. 

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