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AM Best Upgrades Credit Ratings of Hospitals Insurance Company, Inc.; Affirms Credit Ratings of Doctors Company Insurance Group’s Members

AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Hospitals Insurance Company, Inc. (HIC) (New York, NY). Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of the members of Doctors Company Insurance Group (TDC). The outlook of these Credit Ratings (ratings) is stable. (See below for a list of TDC’s companies.)

The ratings reflect HIC’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

The ratings upgrade for HIC reflects the implicit support from its parent organization, TDC. HIC has been fully integrated into the group’s operations and is viewed as one of TDC’s four strategic business units. The company is critical to the group’s strategy and is a material contributor to the group’s premiums and earnings. Furthermore, the parent has indicated its willingness to provide explicit support if needed.

The ratings of TDC reflect the group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate ERM.

TDC’s balance sheet strength continues to be supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). In addition, the group benefits from consistently favorable loss reserve development and a solid liquidity position. The group’s underwriting performance has shown improvement in recent years, with rate actions taken amid hardening market conditions within the medical professional liability (MPL) insurance segment. TDC maintains a strong market position as the second largest MPL writer in the United States, based on 2022 direct premiums written. Further, an appropriate ERM program is in place with a well-defined framework and risk management capabilities that are closely aligned with the group’s risk profile.

The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed for the following members of the Doctors Company Insurance Group:

  • The Doctors Company, An Interinsurance Exchange
  • TDC National Assurance Company
  • TDC Specialty Insurance Company
  • TDC Special Risks Insurance Company
  • The Doctors Company Risk Retention Group, a Reciprocal Exchange

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


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