BrickStreet Mutual Insurance Co. said it has retained its "A-" (excellent) financial strength rating with a stable outlook from A.M. Best Co., an independent insurance rating and information company.
BrickStreet, headquartered in Charleston, is the successor to the West Virginia Workers' Compensation Commission. BrickStreet began operating on Jan. 1, 2006, when the state began privatizing the workers' compensation insurance business.
Employers and insurance ratings look to A.M. Best's ratings to help assess the financial strength and creditworthiness of risk-bearing entities and investment vehicles.
This is the third year BrickStreet has received an A- rating.
Greg Burton, BrickStreet's president and chief executive officer, said, "We are enthusiastic about once again receiving this rating as well as the endorsements it presents to us."This is continued evidence of our strength and sustainability as an insurance provider, and allows us to move forward with our company goals of continuing to provide excellent service and expanding into new markets," Burton said. "I want to personally thank BrickStreet's staff, management and Board of Directors; we've all worked hard to get to this point, and we are excited for what the future holds for our company."