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‘A-‘ Rating Assigned to Illinois Workers’ Comp Carrier Pekin Select Insurance February 3, 2021
The outlook is stable.
PSIC, which writes preferred workers’ compensation business, is a newly formed member of the Pekin Insurance Group, AM Best said. Pekin’s other subsidiaries include: Farmers Automobile Insurance Association (FAIA), a reciprocal exchange that was formed in 1921; Pekin Insurance Co. (PIC), a stock company founded in 1961 whose shares are wholly owned by FAIA; and Pekin Life Insurance Co. (PLIC).
Both FAIA and PIC offer a full array of personal and commercial property/casualty insurance products. Based in Illinois, the companies operate in more than 20 states.