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 Employers Direct – The First of the Specialty Workers' Comp Entrants – Insures Over $150 Million in Annual Premiums As a Proud Benchmark of How the Market has Changed Since the Sweeping Reforms of 2004, Employers Direct Announces Steady Growth and Lower Rates within California AGOURA HILLS, CA – April 25, 2005 – Employers Direct Insurance Company today reports its continuing growth and success, which are attributable to its rock solid financial strength and ability to lower workers' compensation rates, as a result of the reforms in 2004, which were championed by the Governor. As the first domestic specialty carrier to receive a Certificate of Authority from the California Department of Insurance to write workers' compensation insurance in California in over ten years, Employers Direct Insurance Company announces, that after only two years of operations, it now insures over $150 million in annual premium. "We are very proud of our accomplishments. Our growth is the result of experienced senior executives, rock solid financial strength, and a better business climate for private workers' comp insurers in the State of California," said James E. Little, Chairman/President and CEO of Employers Direct Insurance Company, “We were the first specialty workers' comp insurance carrier to receive authority from the State to write workers' comp insurance in over ten years, and since then have led the market in reducing rates for California employers. The reforms passed last year not only allowed us to reduce our rates but are more conducive to competition among carriers. By July of this year, it looks as if rates will be similar to those of over a decade ago in 1993, which is the payoff the Governor was looking for – lower costs for employers." 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 |
