Washington Casualty Company (WCC), a medical professional liability firm, recently announced that it has earned the reinstatement of its license to underwrite insurance in Oregon.
The announcement coincides with the one-year anniversary of WCC’s acquisition by FinCor Holdings, Inc., a Lansing, Mich.-based provider of specialized insurance products and risk management and consulting services. Prior to the acquisition, the Issaquah, Wash.-based WCC was in receivership and operating under restricted licenses in Idaho and Oregon.
The Oregon reinstatement follows the June reinstatement of the company’s Idaho license. The organization now has more than $12 million in capital reserves and an expanding regional service area. During the past year, WCC has generated net new business of more than $1 million, the company written statement said.
A.M. Best Corp. has also upgraded WCC to a B+ (Good) rating with a stable outlook.
Source: FinCor Holdings
Topics Washington Casualty
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