PRZOOM - /newswire/ -
Harrisburg, PA, United States, 2011/06/20 - WPMIC has achieved 10 straight years of an “A- (Excellent)” rating by AM Best. WPMIC insures new home warranties from Residential Warranty Company, LLC (RWC) and GL insurance from the RWC Insurance Advantage (RIA) program.
For the tenth straight year, Western Pacific Mutual Insurance Company, a Risk Retention Group (WPMIC) has earned an AM Best rating of “A- (Excellent)”. WPMIC is the insurer for new home warranties provided by Residential Warranty Company, LLC (RWC) and for general liability insurance provided to home builders through the RWC Insurance Advantage (RIA) program. New home warranties issued by RWC affiliates, MHWC and Preferred Builders Warranty are also insured by WPMIC.
AM Best is a full-service credit rating organization dedicated to serving the financial services industries, focusing on the insurance sector. The “Excellent” rating is ascribed by AM Best to companies that, in their opinion,“have an excellent ability to meet ongoing obligations.”
WPMIC is domiciled in Colorado and has successfully maintained its "A- (Excellent)" rating by AM Best based on its performance to date. The rating reflects the risk retention group's sound capitalization, historically favorable operating performance, positive cash flow position, and conservative reserve levels. Additionally, the rating recognizes WPMIC's history of maintaining sufficient capital to support its ongoing obligations and the effective management of its long term exposure to loss.
This announcement comes on the heels of another big announcement by RWC: the celebration of its 30th Anniversary and 3 million homes warranted. Since 1981, RWC and its affiliates have provided approximately 3 million warranties to builders, remodelers and manufacturers across the country.
RWC’s goal is to provide a level of security to homeowners and Builders alike and has devoted three decades to that purpose across the country. Lynn Nelson-Probst, Vice President of Sales for RWC, with over 25 years of experience of her own remarks,“Being able to provide a variety of services to our customers is the result of much hard work and due diligence along the way. While many companies are forced to downsize and limit their offerings, RWC has been able to expand and offer an ever-increasing array of products and services to both homeowners and the home building industry. RWC has established itself as a rock solid leader in providing home protection. When you become part of one of the companies in the RWC "Family", you benefit from 30 years of leadership and experience that is unrivaled in the warranty industry.”
RWC (rwcwarranty.com) is a leading provider of third party insured warranties throughout the United States. Builders looking for options in coverage, for reliable warranty protection, and for assistance in dealing with complex customer service issues are looking to RWC and its Menu of Choices.