AM Best has given a solid rating to Previsor Insurance Company and its affiliates. The company, based in Centennial, Colorado, has received an A- (Excellent) Financial Strength Rating and an “a-” (Excellent) Long-Term Issuer Credit Rating. This news was announced on March 10, 2025, and reflects a stable outlook for the company.
The ratings apply to Previsor Insurance Company, as well as MEM Protect Insurance Company, MEM Shield Insurance Company, and MEM Secure Insurance Company. All these companies operate under an intercompany pooling agreement with MEM Mutual Insurance Company, which was previously known as Missouri Employers Mutual. They are also affiliated with MEM Mutual Insurance Group.
AM Best highlights the strong financial position of MEM Mutual, noting its very strong balance sheet. The company has shown adequate operating performance, although it has a limited business profile. It also has effective risk management practices in place.
MEM specializes in workers’ compensation insurance, primarily serving the Midwest. The recent ratings come as MEM is transitioning from being a public state-sponsored mutual insurance company to a private entity, a change that took effect on January 1, 2025. This shift aims to enhance customer service, expand operations, and streamline processes. Previsor has been part of MEM since it was acquired in 2011.
The strategic importance of these underwriting entities is clear, as they will benefit from internal reinsurance agreements and shared management resources with MEM. This move is expected to strengthen their overall operations and improve service to policyholders.
Source: AM Best