Retailers Insurance Company has upped its Financial Stability Rating (FSR) from “A Prime Exceptional” to “A Prime Unsurpassed” by Demotech, Inc.

Retailers Insurance Company (RIC) reached this level due to its “unsurpassed financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves and realistic pricing,” according to Demotech, Inc.

Ninety-nine percent of insurers countrywide with the rating of Unsurpassed expect to have a positive surplus as of 18 months from the initial rating date, regardless of the severity of a general economic downturn.

Retailers Insurance Company provides cost-saving workers’ compensation insurance, credit, and dental insurance to a wide array of businesses, non-retail and retail, through a statewide network of insurance agencies.

Headquartered in Lansing, the company was launched by the Michigan Retailers Association in 1981 to help members navigate the complex world of workers’ comp. Policyholders are members of MRA, the largest state retail association in the nation and a trusted resource for more than 5,000 businesses.

RIC’s policyholders range from agriculture to manufacturing to retail and beyond. The company is known for offering unusual features:

  • $2 million employers’ liability limit, rather than the standard $500,000;
  • Automatic $100,000 in EFT Guard protection against online banking theft and cyber extortion; and
  • Automatic terrorism coverage.

Go to for more information or to find an agent.

Columbus, Ohio-based Demotech, Inc., is a financial analysis firm that specializes in evaluating the financial stability of regional/specialty insurers.

RIC held the Exceptional rating since 2006.

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