Badger Mutual Faces Severe A.M. Best Downgrade – Regional Property/Auto Insurers Under Pressure
The worsening plight of a number of smaller regional property & casualty insurers was on full display today as A.M. Best downgraded Milwaukee-based Badger Mutual Insurance Company (BMIC) three pegs from B+ (6th highest) to C++ (9th highest). This is remarkable given that the rating agency had just lowered BMIC’s rating from A- to B+ two months before.