ATLANTA, Sept. 13 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

The U.S. Small Business Administration announced today that certain Private NonProfit organizations (PNP) in Puerto Rico that do not provide critical services of a governmental nature may be eligible to apply for low-interest rate disaster loans. These loans are available following a Presidential disaster declaration for Public Assistance resulting from damages caused by Hurricane Irma that began on Sept. 5, 2017.

PNPs located in the municipalities of Adjuntas, Canovanas, Carolina, Culebra, Guaynabo, Juncos, Loiza, Luquillo, Orocovis, Patillas, Utuado and Vieques in Puerto Rico are eligible to apply. Examples of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

PNP organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The interest rate is 2.5 percent with terms up to 30 years. Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.

The SBA also offers Economic Injury Disaster Loans to help meet working capital needs, such as ongoing operating expenses to PNP organizations. Economic Injury Disaster Loan assistance is available regardless of whether the organization suffered any physical property damage.

PNP organizations are urged to contact their municipalities Emergency Manager for information about their organization. The information will be submitted to FEMA to determine eligibility for a Public Assistance grant or whether the PNP should be referred to SBA for disaster loan assistance.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or sending an email to [email protected]. Loan applications can also be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to submit applications for physical property damage is Nov. 9, 2017. The deadline to submit economic injury applications is June 11, 2018.

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” (Excellent) of the property/casualty subsidiaries and affiliated insurance companies of Kemper Corporation (Kemper) [NYSE: KMPR], collectively referred to as Kemper Property & Casualty Group (Kemper P&C or the group). AM Best also has revised the outlooks to negative from stable and affirmed the FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) of Kemper’s life subsidiaries, collectively referred to as Kemper Life Group (Kemper Life) (Chicago, IL). Concurrently, AM Best has revised the outlook to negative from stable and affirmed the Long-Term ICR of “bbb-” (Good), the Long-Term Issue Credit Ratings (Long-Term IRs) and indicative Long-Term IRs of Kemper, the ultimate parent, headquartered in Chicago, IL. (See below for further discussion and a detailed listing of all companies and Credit Ratings [ratings].)

Lastly, AM Best has withdrawn the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Kemper Financial Indemnity Company (KFIC) (Chicago, IL), each with a stable outlook. KFIC was previously a subsidiary of Kemper and was sold on Sept. 1, 2026.

The ratings of Kemper P&C reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The negative outlooks reflect Kemper P&C’s earnings deterioration through late 2025 and early 2026, driven by the group’s concentrated business profile and exposure to the California auto insurance market. Furthermore, the negative outlooks account for California’s challenging regulatory environment, which may prolong the group’s ability to achieve rate adequacy and improve operating results. Results have been impacted by California’s increase in auto insurance liability limits in early 2025, which doubled bodily injury coverage minimums and tripled property damage limits. As the group’s business is primarily non-standard auto, a majority of its policyholders hold coverage at the minimum limits. As a result, Kemper P&C has experienced elevated claim severity due to the increase in limits and an increase in attorney attachment. AM Best notes there has been sequential improvement in underwriting results through the first half of 2026 but such results remain unprofitable. At the parent level, Kemper has experienced an increase in financial leverage, primarily as a result of a decline in shareholders equity. As of June 30, 2026, adjusted financial leverage (which considers equity credit for hybrid securities issued), stood at 28.6%, per AM Best’s calculation. In addition to underwriting losses, Kemper was impacted by a non-cash goodwill impairment and reciprocal surplus note credit loss allowance in the second quarter of 2026.

Management continues to implement strategic initiatives to correct performance. Kemper P&C has been pursuing rate adequacy actively through approved and pending California personal auto rate increases. The company had a 6.9% rate increase approved with an effective date in April 2026 and an additional 3.0% rate increase approved with an effective date in June 2026. As these rate increases continue to be filed and approved, AM Best expects a gradual improvement in performance.

The ratings of Kemper Life reflect the group’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile, appropriate ERM, as well as consideration of the group’s affiliation with lead rating unit, Kemper P&C. The negative outlooks for Kemper Life reflect the overall negative outlooks for Kemper and its insurance subsidiaries.

The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed with the outlooks revised to negative from stable for the members of Kemper Property & Casualty Group:

• Trinity Universal Insurance Company
• Alpha Property & Casualty Insurance Company
• Capitol County Mutual Fire Insurance Company
• Charter Indemnity Company
• Financial Indemnity Company
• Infinity Insurance Company
• Infinity Assurance Insurance Company
• Infinity Auto Insurance Company
• Infinity Casualty Insurance Company
• Infinity Indemnity Insurance Company
• Infinity Safeguard Insurance Company
• Infinity Select Insurance Company
• Infinity Standard Insurance Company
• Infinity County Mutual Insurance Company
• Kemper Independence Insurance Company
• Merastar Insurance Company
• Mutual Savings Fire Insurance Company
• Old Reliable Casualty Company
• Response Insurance Company
• Response Worldwide Direct Auto Insurance Company
• Response Worldwide Insurance Company
• Union National Fire Insurance Company
• United Casualty Insurance Company of America
• Unitrin Advantage Insurance Company
• Unitrin Auto and Home Insurance Company
• Unitrin County Mutual Insurance Company
• Unitrin Direct Insurance Company
• Unitrin Direct Property & Casualty Company
• Unitrin Preferred Insurance Company
• Unitrin Safeguard Insurance Company
• Valley Property & Casualty Insurance Company
• Warner Insurance Company

The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed with the outlooks revised to negative from stable for the members of Kemper Life Group:

• United Insurance Company of America
• Mutual Savings Life Insurance Company
• The Reliable Life Insurance Company
• Union National Life Insurance Company

The following Long-Term IRs have been affirmed with the outlooks revised to negative from stable:

Kemper Corporation—

-- “bbb-” (Good) on $400 million 2.4% senior unsecured notes, due 2030
-- “bbb-” (Good) on $400 million 3.8% senior unsecured notes, due 2032
-- “bb” (Fair) on $150 million junior subordinated debentures, due 2062

The following indicative Long-Term IRs under the shelf registration have been affirmed with the outlooks revised to negative from stable for the shelf registration:

Kemper Corporation—

-- “bbb-” (Good) on senior unsecured debt
-- “bb+” (Fair) on subordinated debt
-- “bb” (Fair) on preferred stock

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20260911885899/en/

Cristian Sieira, CFA, CPCU
Senior Financial Analyst
+1 908 882 2315
[email protected]

Alan Murray
Director
+1 908 882 2195
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Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
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Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
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Source: A.M. Best Rating Services, Inc.