Highlander Specialty Insurance Company (HSIC) operates as a Chicago-based insurer that provides property and casualty insurance products to niche markets. The Clear Blue Insurance Group includes HSIC and several other companies that use a joint management and reinsurance structure. HSIC established itself in 2020, and AM Best granted it credit ratings in the same year. The company’s financial strength rating is A- (excellent), and its long-term issuer credit rating is A-1. However, we are reviewing the ratings with negative implications due to the potential impact of the COVID-19 pandemic on our group’s operating performance and balance sheet strength.
This article will closely examine Highlander Specialty Insurance Company. We will discuss the history, products, and ratings of the company. We will also provide the company’s contact information.
What Are the Newly Assigned Credit Ratings for Highlander Specialty Insurance Company (HSIC)?
AM Best, a prominent global credit rating agency, has recently assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Highlander Specialty Insurance Company (HSIC), based in Chicago, Illinois. A stable outlook accompanies these ratings, indicating a positive and consistent performance forecast.
How Does AM Best Evaluate HSIC’s Financial Strength and Performance?
AM Best’s ratings assigned to HSIC reflect the company’s strong financial foundation. AM Best categorises HSIC’s balance sheet strength as’very strong’. Additionally, the agency recognises HSIC’s ‘adequate’ operating performance. These evaluations are critical to understanding HSIC’s capability to meet its ongoing insurance obligations.
What is HSIC’s business profile, and how does it manage risk?
HSIC’s limited business profile is well-known. However, it’s worth noting that this is within its overall strength and stability. Furthermore, industry experts have acknowledged HSIC for its appropriate enterprise risk management strategies, which are essential in the dynamic insurance field.
What is the significance of ASIC’s inclusion in the Clear Blue Insurance Group?
A critical factor in HSIC’s ratings is its Clear Blue Insurance Group membership. Several elements support this relationship, including HSIC’s role and importance within the group’s overall strategy, shared ownership and management, explicit and implicit support (including participation in a significant reinsurance program), and the anticipation of continued financial and operational support from the group.
Highlander Specialty Insurance Company Overview
Clear Blue Specialty Insurance Company founded Highlander Specialty Insurance Company in 2020 as a surplus lines insurance company. Clear Blue Specialty Insurance Company is the parent organisation of the subsidiary, Clear Blue Insurance Company. 16777 is the company’s NAIC number.
Highlander Specialty Insurance Company Insurance products
Highlander Specialty Insurance offers many insurance products:
- Excess liability insurance covers claims above the limits of your primary liability policy.
- Umbrella liability insurance offers coverage for claims related to bodily harm, property damage, or personal injury.
- Professional liability insurance safeguards professionals like doctors, lawyers, and accountants from liability claims related to their services.
- Cyber liability insurance protects firms from legal claims resulting from data breaches, cyberattacks, and other cyber disasters.
- Surety bonds provide financial guarantees to ensure a party fulfils their contractual obligations.
- Workers’ compensation insurance protects employees from occupational injuries or illnesses.
- Speciality insurance covers risks related to aviation, marine, or environmental exposures.
Surplus lines insurer Highlander Specialty Insurance Company does not sell directly to consumers. Insurance brokers market its products.
Since 2020, the Guaynabo, Puerto Rico-based enterprise has operated. Clear Blue, a renowned surplus lines insurer, owns the subsidiary.
Highlander Specialty Insurance Company reviews
Highlander Specialty Insurance has some pros and cons.
Here are several advantages:
- A.M. Best gave it a financial rating.
- offer a variety of insurance products.
- licenced to operate in multiple states.
- admitted to doing business in Puerto Rico.
Here are some cons.
- Traditional insurance is less expensive than surplus lines insurance.
- You may need to become more familiar with the company’s business needs.
- Getting a claim approved may be difficult.
What is the phone number for Highlander Specialty Insurance Company claims?
You can reach Highlander Specialty Insurance at 787-339-2100. The Clear Blue Insurance Group has a different phone number: (980) 299-9520. The company is licenced to write excess lines and surplus lines insurance in Missouri, and AM Best rates its financial strength as A- (excellent). The company is located at B7 Tabonuco Street, Suite 912, Guaynabo, PR 00968.
Highlander Specialty Insurance Company address
The address of Highlander Specialty Insurance is:
The address is 225 W. Washington St., Ste. 2550, Chicadepart, IL 606061.
They hold licenses to write excess and surplus lines insurance in several states, including Florida, Missouri, and Mississippi. Their home office address is where they operate.
Highlander Specialty Insurance Company losses
Highlander Specialty Insurance Company incorporated in Illinois in 2020 and commenced its business in June 2020. It has not written any premiums or incurred any losses in Texas in 2021. HSIC had a capital and surplus of $108,796,000 and earned a net unfollow tax of $193,000 in 2022 as of September 30.