Expanded Footprint Increases Company’s Competitiveness Across the South and Midwest
SAN DIEGO, Sept. 29, 2016—ICW Group Insurance Companies, a group of property and casualty carriers announced today that it has actively begun writing workers’ compensation insurance in four new states—Michigan, Oklahoma, Tennessee and Virginia. The move bolsters the company’s strong presence across the Midwest and Southern regions of the U.S. market, while enabling it to better serve agents with clients that have multistate operations.
“Over the last several years, we’ve expanded into Indiana, Texas, Georgia and the Carolinas, and we’re proud to build on those successes with this new growth,” said Kevin Prior, president and CEO of ICW Group. In 2015, the company wrote $822 million in work comp direct written premium (DWP), up 27 percent and 56 percent from 2014 and 2013, respectively. Earlier this year, ICW Group was named to the prestigious Ward’s 50® Group of top performing P&C companies for the 10th time.
“We attribute our consistent and sustainable growth in the work comp sector to the valuable relationships we have with our agent/broker partners and our ability to consistently deliver customers a high level of service at an affordable price,” said Prior. Compared to industry averages, ICW Group’s customers have fewer and less costly claims which lower their ex-modification factors and help them achieve long term premium savings.
The company has expanded the scope of current territory managers, whom will oversee each of the new markets. Keith Guccione, head of ICW Group’s Illinois, Indiana and Wisconsin markets will oversee Michigan. Gina Douglas, head of the Texas branch will oversee Oklahoma. Gary Morin, head of Florida, Georgia and the Carolinas, will oversee Tennessee. Beverly Bisazza, head of Pennsylvania and New Jersey, will oversee Virginia.
“We look forward to helping our agents and brokers offer their clients that may have business operations in neighboring states a new, more competitive work comp option,” said Prior.
ICW Group now actively writes workers’ compensation insurance in 16 states. In 2015, the company was named the 17th largest work comp carrier by the National Association of Insurance Commissioners, as well as the number one in DWP growth for the largest 25 work comp groups by A.M. Best.
About ICW Group
Based in San Diego, ICW Group Insurance Companies is the largest privately held group of insurance companies domiciled in California. Quoting more than $3 billion annually, ICW Group represents a group of Property, Auto and Workers’ Compensation insurance carriers, including Insurance Company of the West and Explorer Insurance Company. ICW Group is recognized nationally as an industry leader in helping policyholders achieve fewer and less costly claims, and is committed to meeting the needs of its policyholders and elevating the trusted agents and brokers who advise them.