BusinessFirst Insurance Company Expands to Offer Workers’ Compensation Insurance Coverage in Indiana

(October 1, 2018)–BusinessFirst Insurance Company has received all regulatory approvals from the Indiana Department of Insurance to begin offering workers’ compensation insurance coverage in the state of Indiana.

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Appointed agents may quote Indiana business with BusinessFirst for policies with effective dates starting October 1, 2018.

Thomas S. Petcoff, president of BusinessFirst, notes, “We are pleased to begin offering workers’ compensation coverage in Indiana. Agents and policyholders can count on tailored loss prevention services, comprehensive claims management, responsive customer service and competitive dividend plans.”

Florida-based BusinessFirst also does business in Georgia, Kentucky, North Carolina, South Carolina and Tennessee and is rated B++ (Good) with Positive Outlook by A.M. Best. BusinessFirst and affiliate RetailFirst Insurance Company comprise the RetailFirst Insurance Group. During 2017, the Group reported more than $135 million in combined direct written premium, and as of June 30, 2018, the Group had more than $359 million in total admitted assets and more than $180 million of policyholder surplus. The Group is rated B++ (Good) by A.M. Best and has excess of loss and terrorism reinsurance coverage through A or higher rated reinsurers.

“Our companies only write workers’ compensation insurance, and independent agents can count on us to offer competitive products backed by the financial stability of the RetailFirst Insurance Group, which has taken a disciplined approach to underwriting that focuses on long-term profitability and growth for more than 40 years,” says Petcoff.

The Group currently insures more than 13,000 businesses throughout Florida, Georgia, Kentucky, North Carolina, South Carolina and Tennessee. Day-to-day operations of the Group are managed by Summit®, the people who know workers’ comp®, a managing general agent with more than 40 years of experience in workers’ compensation.