Best Upgrades First Guard Insurance Co.

September 30, 2004

Florida-based First Guard Insurance Company announced that A.M. Best Company has upgraded its financial strength rating from A- (excellent) to A (excellent). Best views the rating outlook on the company as stable.

“The rating reflects the company’s strong capitalization reflecting its very low underwriting leverage, excellent operating profitability and solid balance sheet liquidity,” said Best. As further basis for the upgrade, the rating agency also cited First Guard’s expertise in underwriting and servicing truck physical damage insurance for owner operator truckers.

First Guard Insurance Company operates as a direct writer of truck physical damage coverage. “The upgrade from Best only reinforces our commitment to this model,” commented First Guard’s President, Edmund Campbell, III. “Increasingly truckers prefer to deal directly with their insurance company, and insurers that cling to outdated marketing models will find it harder to compete.”

First Guard Insurance Company began operations as a reinsurer of truck physical damage insurance in 1997. It has evolved over the last year and a half into a direct writer of this same coverage. Presently the company holds licenses in 12 states with eight additional license applications pending.

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