Interboro Mutual Indemnity Gets Bad Grade from S&P After Entering Rehabilitation
Standard & Poor’s Ratings Services has assigned its ‘R’ financial strength rating to Interboro Mutual Indemnity Insurance Co. after the Supreme Court of the State of New York ordered the Superintendent of Insurance to take over as Rehabilitator.
Interboro Mutual is a 90-year-old property/casualty insurer based in Mineola, N.Y. It primarily wrote private passenger auto, homeowners, and general liability coverage.
It also wrote commercial auto and workers’ compensation coverage, though at a much smaller scale.
Popular Today
- CCC Intelligent Solutions Agrees to $6.1B Take-Private Deal with GTCR, Elliott
- Burned by Fire, Malibu’s Million-Dollar Mansions Face a New Threat: El Niño
- Adjuster Created Law Firm and Fake Claim to Defraud Insurer of $1M, Officials Charge
- PVC Pipes Swept Away by Helene Still Dominate Cleanup of NC River