05/16/2019 | Press release | Distributed by Public on 05/16/2019 06:25
Columbus, OH, May 14, 2019: Worldwide Business with kathy ireland® recently aired an exclusive interview with Joseph Petrelli, President, and Sharon Romano Petrelli, Vice President of Demotech to discuss how Demotech evaluates and identifies hundreds of insurance company options that may have otherwise been overlooked.
According to Sharon Romano Petrelli, CPCU, AIAF, CCP, ARC, 'Demotech was the first to review and rate regional and specialty insurance companies. This is important because they represent over 55% of the insurance industry and were being ignored. This is how we approach financial ratings … it's our focus.'
'What motivated us was that the legacy insurer rating organizations were unable or unwilling to do it, so we said let's do it,' says Joseph Petrelli, ACAS, ASA, MAAA (MBA). 'We had the insurance professionals, and the credentialed people on staff that understood the insurance business and the workings of an insurance company. There was a need in the marketplace, and the legacy rating agencies were ignoring them.'
The segment was aired as sponsored content on Bloomberg and Fox Business Network. It is available at https://www.youtube.com/watch?v=DEGPbSnQDHw. Or, you can search YouTube using 'Kathy Ireland Demotech.'
According to Joe Petrelli, President and co-founder, Demotech reviews and rates more than 400 insurers writing every line of insurance in every state, as well as Puerto Rico and U.S. possessions. Kathy Ireland summarized Demotech's role when she stated that Demotech 'identifies hundreds of financially stable insurance company options that might have otherwise been overlooked.'
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for more information.
About Demotech's I LEAD Conference 2019: Facets of Leadership
Demotech presents I LEAD Conference on August 18 - 20, 2019 at the Hilton Columbus at Easton. I LEAD is the premier conference for C-Suite insurance leaders. Demotech's program features exceptional speakers presenting facets of leadership of vital concern to carriers who will lead the industry. Service providers: There is no vendor registration. To attend, you must be a sponsor. For information on sponsorship, call Victoria Dimond, 614/526-2172, or [email protected]. Visit www.ileadinsurance.com for event details.