Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
FLEMINGTON, NJ – The A.M. Best Company has affirmed its Secure Financial Strength Rating and Stable Outlook for Farmers Insurance Company of Flemington.
The A.M. Best rating is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The rating is based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance and business profile.
“The Secure rating from A.M. Best provides our Policyholders with a level of confidence that their assets are well protected when they insure with us. In late August 2011, we experienced Hurricane Irene, the worst catastrophic loss to strike New Jersey in decades, yet we were able to quickly pay our Policyholders’ claims without calling on our reinsurers to help cover the losses. We think that speaks volumes about our financial strength and superior claims service,” said Donald Applegate, the President and Chief Executive Officer of Farmers Insurance Company of Flemington.
“As a Mutual company, we aren’t in business to make a profit for stockholders like publicly traded insurers are. Our only focus is on our Policyholders and how to improve our ability to protect and serve their interests. The thorough review and analysis of our operation that A.M. Best has completed lets our Policyholders know that we will be there when they need us just like we have been for over 150 years,” said Scott St. Angel, the company’s Vice President of Operations.
About Farmers Insurance Company of Flemington
Farmers Insurance Company of Flemington is a full service Mutual property and casualty insurance company focused exclusively on the New Jersey market.
Established in 1856, Farmers of Flemington markets its personal and commercial insurance products through a network of professional Independent Insurance Agents who provide service, advice and advocacy to its twenty thousand New Jersey policyholders. The Company holds a Secure rating from the A.M. Best Company. More information is available on the company’s website at www.farmersofflemington.com.