RTW Inc. has received a Minnesota insurance license for its new Bloomington Compensation Insurance Co. subsidiary, the company said today.
Bloomington, Minn.-based RTW said the new subsidiary will complement its existing insurance company, American Compensation Insurance Co.
American Compensation generally underwrites workers’ compensation insurance for employers whose previous compensation losses are worse than those of other companies in their industry. Once those businesses improve their loss performances and become more attractive to other insurance carriers, Bloomington Compensation will be able to offer more competitive rates than American Compensation.
Bloomington Compensation will begin writing policies in Minnesota on Oct. 1, and will likely also provide coverage in other geographic markets in the future, RTW said.
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