Employers Direct Reaches $100 Million Milestone in Less Than 18 Months Commitment to fighting fraud and abuse cited among key factors for early success of new direct workers' comp carrier
WESTLAKE VILLAGE, CA – July 14, 2004 – Employers Direct Insurance Company,
one of California's fastest growing private companies, announced today that it has
surpassed $100 million in annual premiums. The company has been in business for 18
months and is the only new domestic workers' compensation insurance carrier approved
by the California Department of Insurance in a decade. The company also reported on the
outstanding claims performance of its policyholder base. Working with carefully selected
employers benefiting from Employers Direct’s direct customer relationships,
policyholders are reporting an average 30% reduction in claims losses compared with
their previous carriers.
"The crucial factor in the performance of our policyholder base is the fact that there are
no middlemen," stated Jim Little, Chairman/President and CEO of Employers Direct
Insurance Company, “As California's only home-based direct writer, we have a clear
advantage over insurance companies whose real customers are the brokers who sell their
programs. We work directly with our policyholders without the frictional costs required
to take care of the needs of intermediaries. This is the key to help them and us to manage
claims, keep employees healthy and on the job, and fight abuse and fraud at every turn."
Employers Direct Insurance Company has achieved profitability after only eight months
of operations and has been instrumental in partnering with its customers to expose fraud
and abuse of the State's beleaguered workers' comp system.
Little added, “Precise claims services and state-of-the-art loss control resources are the
solution to better service and fewer injuries. This all translates to lower workers'
compensation costs for a select group of employers as their experience modifications take
into account improvements in claims liability.” About EMPLOYERS DIRECT INSURANCE COMPANY
Employers Direct Insurance Company is California's only investor-owned direct writer of
workers' compensation insurance - with no agent or broker affiliation. Founded in 2003,
Employers Direct has been widely accepted by business owners throughout California as
a result of providing highly competitive rates, claims services designed to fight fraud and
abuse, and loss prevention services that assist employers to create safe work
environments. Employers Direct is proud that a growing number of California's best-run
privately-held companies count themselves as policyholders. Niche industries include
hotels, restaurants, country clubs, new car dealers, manufacturing companies, specialty
supermarket chains, and retailers. Visit Employers Direct online at www.employersdirect.com
Contact:
Employers Direct Insurance Company
Stephanie Hlad
818-575-8545 (Day)
shlad@employersdirect.com
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