11. Source: A.M. Best Co.'s Impairment Rate and Rating Transition Study dated May 1, 2009; complement of page 4, Exhibit 2. Demotech, Inc.’s Serious About Solvency updated for data as of 12/31/2008 .
12. Source: A.M. Best Co.'s Impairment Rate and Rating Transition Study dated May 1, 2009; complement of page 4, Exhibit 2. Demotech, Inc.’s Serious About Solvency updated for data as of 12/31/2008 .
13. Source: A.M. Best Co.'s Impairment Rate and Rating Transition Study dated May 1, 2009; complement of page 4, Exhibit 2. Demotech, Inc.’s Serious About Solvency updated for data as of 12/31/2008 .