Standard & Poor’s Ratings Services has assigned its ‘R’ financial strength rating to Interboro Mutual Indemnity Insurance Co. after the Supreme Court of the State of New York ordered the Superintendent of Insurance to take over as Rehabilitator.
Interboro Mutual is a 90-year-old property/casualty insurer based in Mineola, N.Y. It primarily wrote private passenger auto, homeowners, and general liability coverage.
It also wrote commercial auto and workers’ compensation coverage, though at a much smaller scale.
Was this article valuable?
Here are more articles you may enjoy.
Albertsons Reaches $774 Million Opioid Accord, Records Loss 
Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage 
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
