VENICE, FL - First Guard Insurance Company announced that A.M. Best Company has upgraded its financial strength rating from A- (excellent) to A (excellent). Best views the rating outlook on the company as stable.
"The rating reflects the company's strong capitalization reflecting its very low underwriting leverage, excellent operating profitability and solid balance sheet liquidity," said Best. As further basis for the upgrade, the rating agency also cited First Guard's expertise in underwriting and servicing truck physical damage insurance for owner operator truckers.
First Guard Insurance Company operates as a direct writer of truck physical damage coverage. "The upgrade from Best only reinforces our commitment to this model," commented First Guard's President, Edmund B. Campbell, III. "Increasingly truckers prefer to deal directly with their insurance company, and insurers that cling to outdated marketing models will find it harder to compete."
