Fire Districts of New York Mutual Insurance Co., Inc. (FDM) has maintained its AM Best “A-” rating in the Financial Strength and Long-Term Issuer Credit Rating categories for the fourth consecutive year.
“AM Best has assigned a Financial Strength Rating of ‘A-’ (Excellent) and a Long-Term Issuer Credit Rating of ‘A-’ (Excellent) to FDM. The outlook assigned to these Credit Ratings (ratings) is stable,” reported AM Best. “The ratings reflect FDM’s very strong balance sheet, strong operating performance, and its appropriate marginal enterprise risk management (ERM).”
AM Best is one of the world’s oldest and authoritative insurance rating organizations. The “A-” rating indicates that FDM is fiscally sound, is able to fulfill its financial obligations, and has a stable outlook for future business. FDM has a longstanding history of maintaining stability and excellence; its initial Financial Strength Rating was issued in 1990, and its initial Issuer Credit Rating was issued in 2007.
“We are pleased to maintain our AM Best ‘A-’ rating, an achievement that is the result of our commitment to excellence and a testament to the strength and stability of our organization,” shared FDM EVP/COO Roy Denny. “Despite being smaller than other mutual insurance companies — and our niche market — this rating signifies our financial strength and our capability to take on more business.”
FDM is a mutual insurance company specializing in Volunteer Firefighters’ Benefits Law (VFBL)/New York State Workers’ Compensation Law that provides maximum benefits claims services to Volunteer Fire Services across New York State.
To learn more about FDM, visit fdmny.com. For the latest AM Best Credit Ratings, access ambest.com.
ABOUT FDM: Fire Districts of New York Mutual Insurance Co., Inc. founded in 1978, specializes in Volunteer Firefighters’ Benefits Law and Workers’ Compensation Law in New York State. FDM prides itself in providing superior claims service to Volunteer Fire Services across New York State by providing coverage based upon 100% earning capacity for all its member policyholders. It is a company formed and owned by volunteers for the service of volunteers.