Prime Earns ‘A’ Financial Stability Rating

July 30, 2004

  • July 30, 2004 at 1:48 am
    John Wethey says:
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    What is the Best’s rating of this company?

  • July 30, 2004 at 2:08 am
    Ken says:
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    Best’s Rating B- IV

  • July 30, 2004 at 2:23 am
    Denn Corby says:
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    The Prime syndicate is a vehicle of a firm located in Utah that runs several purchasing groups. We just ran across one recently which is called Transworld and which is for contractors. We have had no response from the CA DOI as to its legality because it does not appear to be registered in CA. CA contractors are flown to Utah to pay their premium and bind their policy. That is very strange. The contractors group is a nationwide basket limit that does not keep individual insured statistics which means that the group will not and cannot provide loss runs for their members. I would be extremely careful of Prime because a basket limit means that your claim only gets paid if their are funds to pay it. Caveat emptor.

  • July 30, 2004 at 3:16 am
    Joe Palumbo says:
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    It’s B- John, how have you been?

  • July 30, 2004 at 4:41 am
    Rick J Lindsey says:
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    Prime Insurance Syndicate, Inc and or (INEX) operates as an Insurance Company in most State’s. At this time Prime does NOT operate in CA. During the last year NV, Maine and Minnesota have been added to our list of State’s!

    Prime does have Insured’s that have traveled from CA and other State’s and have “self procure” coverage. The Insured have this right and option, all the rules regarding “self procurement” are followed.

    Prime Insurance Syndicate, operates as a surplus lines company in 40 State’s and US Territory’s. Prime reinsurance support from Gen Re and Lloyd’s is based on over 20 years of profitablity.

    Prime’s Holding comapny does have a number of RPG it conducts business. Priem is looking for NEW RPG’s it can work with. The RPG’s issue’s Lloyd’s London paper in many cases. Transworld has stopped issuing coverage for new memeber with Lloyds and renewals are being reviewed on a case by case basis.

    I would be happy to provide any additional inforamtion.

    Rick J Lindsey
    President
    Prime Insurance Syndicate, inc

  • July 26, 2005 at 9:15 am
    Rick J Lindsey says:
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    Prime current Bast Rating was jut increased B Stable



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