Business Moves

Republic Group, FirstComp Underwriters

Dallas-based Republic Companies Group Inc. entered into a managing general agency agreement with FirstComp Underwriters Group Inc., making the Omaha-based monoline workers’ compensation group one of Republic’s key relationships.

Under terms of the contract, certain Republic insurance subsidiaries will serve as policy issuing insurers for business produced and administered by FirstComp.

The FirstComp book of business to be written by the Republic companies is estimated to be $80 million of gross premium in the 2006/2007 underwriting year. These risks are written through FirstComp’s network of independent insurance agencies for small- to medium-size businesses primarily in rural and suburban towns of several states.

Consistent with the operating strategy of Republic’s Program Management segment, Republic will cede a portion of the business under a new quota share reinsurance
agreement. For the 2006/2007 year of account, the Republic companies will retain 35 percent of the net premium and underwriting risk of FirstComp’s production. The Republic Companies Group will receive fee income for the 65 percent quota share reinsurance placements.

FirstComp Underwriters Group provides workers’ compensation insurance coverage for more than 50,000 “main street” businesses through more than 5,200 independent insurance agencies nationwide. With headquarters in Omaha, Neb., and an East region office in Providence, R.I., FirstComp currently operates in 25 states.

Source: Republic Companies Group

HCC, Novia

Houston-based HCC Insurance Holdings Inc. reached an agreement to acquire Indiana-based Novia Underwriters Inc. for an undisclosed amount.

Currently writing $20 million in premium, Novia is an underwriting agency based in Indianapolis that specializes in medical stop loss insurance and has been in business since 1997.

According to HCC’s written statement, the company is a leader in the medical stop loss business and its subsidiaries HCC Life Insurance Company and Perico Life Insurance Company write more than $500 million of annual premium in this line. Following the acquisition, Novia’s business will be included in Perico Life.

Source: HCC Insurance Holdings Inc.

Stroman Consulting Group

Mike Stroman announced the formation of Houston-based Stroman Consulting Group, an insurance agency management consulting firm, to work with insurance agencies on issues including sales and marketing management, COO training and coaching, sale preparation, retained agency search, and crisis management.

Stroman’s 26 years in the insurance industry include experience in underwriting, insurance company operations, sales/production, marketing, sales and marketing management and agency ownership.

His industry involvement includes past president of the Independent Insurance Agents of Houston.

Source: Stroman Consulting Group

The Logistics Trust of Texas

The Logistics Trust of Texas, a workers’ compensation self-insurance group administered by First Cardinal of Texas Ltd, received approval from the Texas Department of Insurance to begin offering coverage.

According to First Cardinal, the program will provide statutory workers’ compensation and employers liability coverage to qualifying Texas employers in the logistics industry, including trucking, distribution, warehousing, wholesale, moving and storage, and related services.

The Logistics Trust of Texas is co-sponsored by the Texas Warehouse Association and the Texas Grocery & Convenience Association, and is the eighth workers’ compensation trust approved by the TDI since the model became available in 2004.

It is the third Texas program available from First Cardinal, joining The Mercantile Trust of Texas (retail exposures) and The CompPAC Trust of Texas (artisan contractors). Eligibility requirements for all First Cardinal programs are available online at www.FirstCardinal.com.

Source: First Cardinal of Texas

CAA, LKL

Combined Agents of America LLC, based in Austin, Texas, announced that Lynn, Kiecke, Lackey Insurance Group Inc. in Bellville, Texas, joined the organization as its 35th member agency.

Founded in 1928, LKL Insurance is headquartered in Bellville with a second location in Sealy. The independent insurance agency serves not only Austin county but surrounding counties writing all lines of insurance, including commercial business, personal, and life and health policies.

Founded in 1997 Combined Agents of America comprised of 35 independent insurance agencies located throughout the state. To date, CAA has generated over $326,000,000 in combined property and casualty annual premiums, and works with 16 of the largest insurance companies in the nation.

Source: CAA

LWCC

Louisiana Workers’ Compensation Corp-oration (LWCC) announced it has launched a new corporate Web site, www.lwcc.com.

The site features dedicated sections for employers, insurance agents and injured workers to obtain important information to manage their workers’ compensation needs. The employers’ section provides articles about workplace safety, legal issues, claims management and cost-saving strategies. The agents’ section offers information about LWCC’s online quoting and other e-business programs, and injured workers can learn about workers’ comp benefits and the claims process as well as health and safety topics.

The site, designed by Redstick Internet Services of Baton Rouge, has a new look and more customer-focused, user-friendly navigation, the company said.

Source: LWCC

MHBT

McQueary Henry Bowles Troy LLP (MHBT), based in Dallas, announced that its Austin office, with 20 employees, recently placed 11th in the Austin Business Journal’s ranking of the “Best Places to Work” in Austin, in the small-size employers category.

MHBT’s Austin office opened in April 2005, so this is the first year the agency has been eligible for recognition in Austin’s “Best Places to Work” competition.

MHBT has been recognized as one of the “Best Places to Work” in the Dallas/Fort Worth market by the Dallas Business Journal for the past three years, including two consecutive years ranked in the top five medium-size employers. Texas Monthly, in conjunction with the Texas Association of Business and the Society for Human Resource Management – Texas State Council, also honored MHBT this year as one of the “Best Companies to Work for in Texas,” in the inaugural statewide competition.

Source: MHBT