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.
Was this article valuable?
Here are more articles you may enjoy.
New York Regulates Consumer Litigation Financing 
Private Equity Firms Expected to Unleash Middle-Market M&A Deals, Survey Says 
Good Times for US P/C Insurers May Not Last; Auto Challenges Ahead 
High-Net-Worth Risk Appetite Drops as Some Regions Show Stabilization 
