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Last week, AM Best, a global credit rating agency, announced it had given California Healthcare Insurance (CHI) Company Inc., a Risk Retention Group, a rating increase to a Positive outlook.
The company achieved an AM Best rating of A- with a Stable outlook in 2005, and the rating has remained the same since. The Positive outlook for CHI is the first step toward achieving an A rating. The rating reflects CHI’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile, and appropriate enterprise risk management.
CHI was launched in 1988 when nine CHA member hospitals came together to form a hospital professional liability insurance company. As the first and only hospital professional liability insurance company in California that is owned by those it insures, CHI has become one of the most successful captive insurance companies of its type in the world.