San Francisco, CA December 7, 2010 – On November 9, 2009, the Insurance Commissioner issued a decision approving several changes to the experience rating formula including updated credibility values (“B” and “W” values) and a revised mechanism for segregating claims into their primary and excess components. These changes were proposed by the WCIRB at the… [Read more]
AUSTIN, Texas — Texas Mutual Insurance Company announced a $195,811 dividend to the Texas Green Industry (TGI) purchasing group today. The workers’ compensation dividend was based largely on the group’s loss ratio. TGI has earned $2,838,848 in Texas Mutual dividends since 2005. By committing to workplace safety and helping injured workers return to productive employment,… [Read more]
RENO, Nev., Dec. 6, 2010 – EMPLOYERS®, America’s small business insurance specialist®, has selected SolutionSet to drive its national integrated direct marketing programs including: strategy, creative, production and analytics.Focused on driving growth heading into the next decade, EMPLOYERS is expanding its pipeline by appointing additional agents in the newer states where it does business and by deploying its underwriting technology into those markets to make it
FORT LAUDERDALE, Fla., Dec. 6, 2010 – Patriot Risk Management, Inc. announced today that it has spun-off Patriot Underwriters, Inc. and Patriot National Insurance Group, Inc., parent of Guarantee Insurance Company. Following the spin-off, both Guarantee Insurance Company and Patriot Underwriters will be wholly owned subsidiaries of Patriot National Insurance Group. Guarantee Insurance Company specializes in traditional and alternative market workers’ compensation
FORT LAUDERDALE, FL. – (PRNewswire) – Guarantee Insurance Company, a workers’ compensation insurance specialist, announced today that it has closed on an $8.0 million equity infusion.
Steven M. Mariano, Chairman and Chief Executive Officer, said: “This capital will be used to support our growth, expand into new geographic markets, and improve operations. It is a testament to our management team and our operating strategy
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of “a” of Mercer Insurance Group (MIG) and its members. Concurrently, A.M. Best has placed under review with negative implications the ICR of “bbb” of Mercer Insurance Group, Inc. (Mercer,… [Read more]
HARLEYSVILLE, Pa.–(BUSINESS WIRE)–Harleysville Group Inc. (NASDAQ:HGIC) and Harleysville Mutual Insurance Company have amended their intercompany pooling agreement as it relates to their workers compensation business, effective January 1, 2011. The amendment was approved by the Harleysville Group/Harleysville Mutual Coordinating Committee, and ratified by each company’s full board of directors. The amendment also was approved by… [Read more]
WAYNE, PA. & PHILADELPHIA, – (BUSINESS WIRE) – GENEX Holdings, Inc. (“GENEX”) today announced it has completed its acquisition of International Rehabilitation Associates, Inc.’s (“Intracorp”) workers’ compensation and disability case management business from CIGNA Corporation /quotes/comstock/13*!ci/quotes/nls/ci (CI 37.78, -0.22, -0.57%) , the parent of Intracorp. As announced on November 4, 2010, GENEX will continue its… [Read more]
BATON ROUGE, LA – (PRNewswire) – Retailers Casualty Insurance Company, a workers’ compensation insurer managed by Summit Consulting Inc., has received all regulatory approvals from the Texas Department of Insurance to begin offering workers’ compensation coverage in the state of Texas. Retailers Casualty currently insures more than 2,000 businesses throughout Arkansas, Louisiana and Mississippi and is rated A- (Excellent) by A.M. Best Company.
Retailers Casualty chairman, Carl Carstens, says, “With prudent underwriting, strategically managed assets and outstanding customer service, Retailers Casualty is well positioned to provide Texas employers with a strong workers’ comp program option.Texas is an exciting place to do business, and we’re optimistic about the possibilities that lie ahead.”
Hank Chiles, vice president of Summit’s Southwest Region, agrees. “We’ve always
JERSEY CITY, N.J. – (GLOBE NEWSWIRE) – Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, announced today it has signed an agreement to acquire Crowe Paradis Services Corporation (Crowe Paradis), a premier provider of claims analysis and compliance solutions to the property/casualty insurance industry. Crowe Paradis was purchased from New York-based private… [Read more]