Meadowbrook Insurance Group Inc., the insurer that had its rating cut this month by A.M. Best, said it received a waiver from lenders after violating two financial covenants.

The waiver is effective until Sept. 20 and allows the company to pay its scheduled common-stock dividend next week, the Southfield, Michigan-based company said in a statement distributed by PR Newswire.

Editor: Steven Crabill