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AM Best Assigns Credit Ratings to Universal Fire & Casualty Insurance Company and Its Subsidiary
AM Best has assigned a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Universal Fire & Casualty Insurance Company (UFCIC) (headquartered in Waterford, MI) and its wholly owned subsidiary, Shield Indemnity Incorporated (Shield) (Dublin, OH). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect the execution of an intercompany pooling agreement between UFCIC and Shield. These companies are collectively referred to as Universal Shield Insurance Group (USIG).
Merger Forms New Insurance Holding Company, Universal Shield Insurance Group
UIM Holding Company and its subsidiary Universal Fire & Casualty Insurance Company (UFCIC) has merged with Shield Indemnity, Inc. (Shield Indemnity), to form a new property and casualty (P&C)-focused holding company, Universal Shield Insurance Group, Inc. (Universal Shield or USIG).
UFCIC Becomes First U.S. Insurer to Accept Cryptocurrency for Premium Payments
Universal Fire & Casualty Insurance Company (UFCIC), a multi-line admitted property and casualty (P&C) insurance company and insurtech innovator, is pleased to announce the company is now the first U.S. insurer to accept cryptocurrency for premium payments.
UFCIC Expands into New P&C Markets with ClarionDoor
ClarionDoor, provider of the most intelligent insurance product distribution software, is pleased to announce that Michigan-based property and casualty (P&C) insurer Universal Fire and Casualty Insurance Company (UFCIC) is now live with ClarionDoor’s rating and quoting for three new commercial insurance products.
Universal Fire and Casualty Insurance Company Selects ClarionDoor to Launch New Commercial Products
Property and casualty (P&C) insurers, like Michigan-based Universal Fire and Casualty Insurance Company (UFCIC), are leveraging modern technology to differentiate themselves in an overwhelmingly competitive market. By selecting ClarionDoor, provider of the most intelligent insurance product distribution software, UFCIC is investing in state-of-the-art rating, quoting, and policy issuance to rapidly and cost-effectively launch new products for General Liability, Commercial Property, Business Owner Package, and Inland Marine.
