AM Best, a global credit rating agency specializing in the insurance industry, has upgraded the Financial Strength Rating of Chesapeake Employers’ Insurance Company to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-”. The outlook of these Credit Ratings (ratings) has been revised to stable from positive.
Chesapeake Employers’ Insurance Company is Maryland’s largest writer of workers’ compensation insurance. It is a nonprofit, non-stock, private corporation. Chesapeake Employers has served as a continuous, guaranteed source for fairly priced workers’ compensation insurance since 1914.
“Earning an upgrade from AM Best affirms the financial strength and long-term strategy of our company,” says Tom Phelan, CEO of Chesapeake Employers. “I want to thank the members of our Board of Directors and the leadership team for their support and sound guidance. I also want to thank all of our employees who work hard every day to provide our agents, policyholders, and injured workers with the service they need and deserve” (press release).
“We are the safety net Maryland employers rely on to provide fairly priced workers’ compensation coverage,” says Paige Beck, President of Chesapeake Employers. “We have been in business for more than 100 years. Our commitment to Maryland has never wavered. Chesapeake Employers will continue to be a reliable source of protection for Maryland business owners now and well into the future” (press release).
Chesapeake Employers also provides numerous free safety resources to policy holders such as seminars and trainings, a drug testing program, and a safety video streaming library.
Learn more about Chesapeake Employers’ safety resources.
Join us at MACo’s Summer Conference to hear from Chesapeake Employers Insurance Company at their Solutions Showcase:
From Pandemic to Progress: A Look at the Changing Workplace Through the Lens of Maryland’s County Employers and Employees
Presented by Chesapeake Employers’ Insurance Company
Join Chesapeake Employers in a discussion of the strengths and opportunities of working remotely through COVID-19. Experts will also discuss the changing landscape of the workplace in a post-COVID world.
Date/Time: Friday, August 20, 2021 | 12:15 pm – 12:45 pm
Learn more about MACo’s Summer Conference: