Lancaster, PA -(PRNewswire)- Eastern Alliance Insurance Group (“EAIG”) announced today that the Pennsylvania Builders Association (“PBA”) Workers’ Compensation Program (“the Program”) is expanding into the New Jersey marketplace. EAIG is a member of the publicly-traded Eastern Insurance Holdings, Inc. (“EIHI”, NASDAQ: EIHI) family of companies.
The PBA, through its subsidiary Builders Services Inc. (“BSI”), established the Program to provide its Pennsylvania members with a long term workers’ compensation solution. EAIG has served as the underwriter and service provider for this home builders and remodeling program since 1999. The Program has grown to more than $6.5 million in annual direct written premium and expanded into the Maryland marketplace in 2008 to include members of the Home Builders Association of Maryland, Eastern Shore Builders Association and Frederick County Builders Association. The expansion of the Program into New Jersey is through a newly established relationship with the Builders League of South Jersey (“BLSJ”).
“We are excited to expand the Program into the New Jersey marketplace in support of EIHI’s geographic expansion initiatives,” said Michael Boguski, President and Chief Executive Officer of EIHI. “We welcome the opportunity to partner with the Builders League of South Jersey and continue to value our long term relationship with the PBA.”
Established in 1940, BLSJ is a trade association consisting of professional builders, developers, remodelers and associated businesses in southern New Jersey, including Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester and Salem counties. BLSJ’s partnership with the PBA Workers’ Compensation Program is effective as of April 1, 2012. To access the Program, applicants must be an active member of the BLSJ or another eligible association, or become a member within 15 days of their policy’s effective date.
“We are excited to establish a partnership with the PBA and EAIG to support the growth of the PBA Workers’ Compensation program,” said Richard Van Osten, Executive Vice President of BLSJ. “We are pleased to offer a dynamic Workers’ Compensation solution to our membership.”
Benefits of the Program include stable rates, competitive pricing, innovative claim and medical cost management programs, and high quality risk management services. The Program also offers flexible billing options, including EAIG’s exclusive ParallelPay® “pay-as-you-go” program, which enables policyholders to pay premiums as they pay their employees.
“The PBA Workers’ Compensation Program has been one of the most consistent and successful programs for the PBA,” said John Maleno, President of the PBA’s Workers’ Compensation Committee. “For years, it has brought our members stable pricing, value added service, and now has matured to the point where dividends are being earned through consistent, profitable results.”
McConkey Insurance & Benefits assumed Program Administrator duties in 2005 and is endorsed by the PBA to market the Program. The York, Pennsylvania-based independent insurance agency acts as a liaison between the PBA, partner associations and EAIG, assisting in the annual Program renewal process, development of marketing plans, and is a sales resource for the agents authorized to conduct business for the Program.