Lancaster, PA – Eastern Alliance Insurance Group (Eastern Alliance), a subsidiary of Eastern Insurance Holdings, Inc. (NASDAQ: EIHI), and Westfield Insurance (Westfield) recently announced the creation of EastWest Alliance, a multi-line captive program for mid-to large-size employers.
The EastWest Alliance program offers a multi-line product, including workers’ compensation, general liability and commercial automobile coverage. The EastWest Alliance brand reflects the alignment of Eastern Alliance, a specialty underwriter of workers’ compensation products and services, and Westfield, a super-regional property and casualty insurance group, who with the employers will be joint owners of the multi-line captive.
“EastWest Alliance provides a unique product for employers committed to gaining more control over their insurance costs,” said Michael Boguski, President and Chief Executive Officer for EIHI. “The program provides a long-term, stable market solution backed by two well-respected regional carriers rated “A” (Excellent) by A.M. Best Company. Eastern Alliance will underwrite the workers’ compensation line and bring their proven specialization in underwriting, risk management and claims administration. Westfield will underwrite and provide their respective proven expertise in underwriting, risk management and claims administration for the general liability and commercial auto lines of business.”
“Eastern Alliance and Westfield share an intense focus on delivering superior service that is customer relationship-oriented on a local basis,” said Steve Fisher, Westfield Mid-Market Leader. “The EastWest Alliance program offers a unique product where two insurance carriers with expertise in their respective lines have combined to launch a brand and fully-bundled service offering for mid to large employer groups.”
The multi-line captive program is domiciled in Grand Cayman through Eastern Re, Ltd. SPC, a subsidiary of EIHI. The program will launch with a group of Mid-Atlantic agents mutually appointed by Eastern Alliance and Westfield and will later expand to additional operating regions of both companies.
Source: EAIG