Another Benefit of Securing a First Class Second Opinion? from Demotech!
Joseph Petrelli
We level the playing field for otherwise unrated and currently under-rated insurance companies by focusing on execution of their business models. Size is not a rating criterion.
Effective March 23, 2020, Fannie Mae Multifamily issued Guide Update 20-02: Insurance Carrier Rating Agencies adding Demotech, Inc. as an acceptable rating agency for all property and liability insurance carriers.
According to Joseph L. Petrelli, President and co-founder, Demotech, Inc., “Demotech is pleased to have completed the rigorous and thorough review of our process required by Fannie Mae Multifamily. Our review and analysis process, Financial Stability Ratings? (FSRs) and our exemplary record of identifying financially stable insurer options carried the day.
To be eligible to write habitational or multifamily business with Fannie Mae Multifamily as a stakeholder, insurers need an FSR of A or better as long as they have a policyholder’s surplus of $40 million or more. Carriers currently writing or interested in writing this class of business are no longer exclusively dependent on a single, privately-held insurer rating agency.”
To learn more about what this approval does for your business please contact Joe Petrelli here on LinkedIn. We look forward to serving you.