Financial Stability

Accident Fund Insurance Company of America, the largest writer of workers compensation in Michigan, is rated A (Excellent) by A.M. Best. The rating includes Accident Fund’s subsidiaries: Accident Fund National Insurance Company, Accident Fund General Insurance Company and United Wisconsin Insurance Company—doing business as United Heartland. Together all four companies operate as Accident Fund Group.

In awarding this rating, A.M. Best cites Accident Fund Group’s

• Strong earnings

• Excellent capital position

• Quality investment portfolio

• Leadership position in the Michigan workers compensation market.

The rating also acknowledges enhanced operating synergies with our securely rated parent, Blue Cross Blue Shield of Michigan. Accident Fund has improved underwriting results and maintained its strong market share despite rate decreases implemented over the past few years in response to competitive pressures and improved loss cost trends. The Company's solid underwriting performance and strong investment income has allowed for generally sizable surplus growth over the past five years.

Accident Fund has also expanded nationally, currently operating in 13 core states.

Based on these new initiatives, the strong financial results and continued strong surplus growth, A.M. Best view the Company's rating outlook as stable."

For more information about insurance ratings, visit the A.M. Best web site: www.ambest.com