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LAWPRO awarded A (Excellent) financial strength rating for 5th year
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Toronto, ON, January 5, 2005 - Lawyers' Professional Indemnity Company (LAWPRO) has earned its fifth consecutive "A (Excellent)" financial strength rating from A.M. Best Co., a leading rating agency.
A.M.Best cited the company's favourable underwriting and operating performance, its historically favourable loss reserve development, as well as its strong capital position as key indicators that earned LAWPRO the "A" rating.
"Historically, operating performance has comfortably supported both the growth in capitalization and (LAWPRO's) level of risk tolerance," A.M. Best Co. commented.
The five consecutive 'A" ratings from A.M. Best represent a major milestone for LAWPRO, which in 2005 marks its 10th year of independent operations. "Throughout the past decade, we have focused on two priorities: To ensure the long-term economic viability of the insurance programs we offer; and to offer lawyers innovative programs that respond to their needs, present and future," said LAWPRO President & CEO Michelle Strom. "These five "A" ratings are an important measure of the success of the strategies we have put into place since 1995, when we reorganized the operation. Now, on the eve of this 10th anniversary, these five consecutive "A" ratings provide yet another reason to celebrate."
Lawyers' Professional Indemnity Company (LAWPRO) is a wholly Canadian-owned insurer providing a diverse range of insurance-related programs, services, and resources, including title insurance, to support the legal community in numerous jurisdictions across Canada.
A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source.
January 31, 2018