Today’s issue of WorkCompRecap features a couple transactions, starting with BrickStreet’s announcement that it has finalized an agreement to acquire the workers’ compensation block of business from Pittsburgh-based HM Insurance Group (HM), a Highmark Company.
The transaction involves workers’ comp policies and accounts for approximately $120 million in premium. HM’s current workers’ comp employees will become BrickStreet employees effective August 1st and will remain in Pennsylvania, where BrickStreet already writes insurance along with 12 other states and DC. HM’s President & CEO described the scenario as a win-win, with customers benefitting from BrickStreet’s workers’ comp focus, and HM gaining the ability to focus on its other lines.
Find out more by clicking here!