BusinessFirst Insurance Co., a Florida-based workers’ compensation insurer, is continuing to expand in the southeast by offering coverage to South Carolina employers.
The Lakeland, Florida-based BusinessFirst, was established in 2003 by Summit Consulting, LLC, which serves as the insurer’s managing general agent and oversees its day-to-day operations.
BusinessFirst, along with its affiliated company RetailFirst Insurance Co., comprise the RetailFirst Insurance Group. In 2010, the group expanded into Kentucky, North Carolina and Tennessee.
The group insures 14,000 employers throughout the southeast.
RetailFirst Group reported in June that it had $300 million in total admitted assets and $149 million in policyholder surplus. In 2013, the group reported that combined BusinessFirst and RetailFirst represented $108 million in direct written premiums.
RetailFirst Group is rated B++ by AM Best Co. and has excess loss reinsurance coverage through the A+ rated Safety National Casualty Corp.
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