Allied Trust Insurance Company (ATI) has initial capital and surplus twice that as required by the Texas Department of Insurance. Being an admitted and domiciled Texas carrier, ATI has $350,000 per risk coverage provided by the Texas Guaranty Association. That safety net is not expected to be needed as Allied Trust carries an “A” financial rating by Demotech. We take our financial stability very seriously to ensure that ATIC can meet its financial obligations to pay our claims.
Reinsurance is a critical component of Allied Trust’s financial stability. ATI is represented by two of the top four reinsurance brokers in the world with Aon Benfield and JLT Re. Our reinsurance program strategically spreads exposure among twenty-four highly-rated, highly-capitalized reinsurers around the globe Bermuda, London, Europe, Asian and domestic markets that are rated “A-“ or better by A.M. Best. Allied Trust has purchased reinsurance well beyond accepted minimum standards in order to mitigate against both severe and frequent losses to protect ATIC’s capital and surplus.
Catastrophe reinsurance safeguards the Company from incurring massive losses sustained from catastrophic events such as hurricanes, tornados, hail and other severe convective storms. ATI carries coverage sufficient to sustain multiple storms of at least 100+ year magnitude. Retention is at only $1,000,000 for the first storm and $750,000 thereafter. Allied Trust also carries aggregate coverage as well to handle multiple smaller storms with only a $500,000 aggregate retention. Finally, the Company also carries excess of loss coverage to cover any single loss over $250,000.
This diversified, conservative approach ensures policyholders are always well protected.