A.M. Best Assigns and Affirms Ratings of Physicians Insurance Company of Wisconsin, Inc.; Removes Rating From Under Review

A.M. Best Co. has assigned an issuer credit rating of “a-” and affirmed the financial strength rating (FSR) of A- (Excellent) of Physicians Insurance Company of Wisconsin, Inc. (PIC Wisconsin) (Madison, WI). The FSR has been removed from under review with negative implications, and both ratings have been assigned a stable outlook.

These rating actions follow regulatory approval and subsequent implementation of a stop-loss reinsurance agreement between PIC Wisconsin and The Medical Assurance Company Inc. (TMAC), both of which are subsidiaries of ProAssurance Corporation (both of Birmingham, AL) [NYSE: PRA]. This agreement, which covers accident year 2006 and prior claims, successfully addresses A.M. Best’s concern over PIC Wisconsin’s risk-adjusted capital position, which previously was not supportive of the FSR.

For Best’s Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.