Employers Insurance Company of Nevada (EICN) announced that its wholly-owned subsidiary, Fremont Employers Insurance Company (FEIC) is unaffected by the California Department of Insurance (DOI) decision to take into conservancy the separate business entity of Fremont Indemnity Company (FIC).
“Today’s announcement by the Department of Insurance does not affect our company, its subsidiaries or our current book of business,” said EICN Chief Executive Officer Douglas Dirks. “Unlike FIC, Fremont Employers Insurance Company is financially strong, continues to enjoy a successful year, and remains a thriving business.”
In July 2002, EICN purchased FIC’s ongoing book of business. As a result of that transaction, EICN formed a new company, Fremont Employers Insurance Company, which received its certificate of authority from the California DOI in Aug. 2002. FEIC assumed the renewal rights to FIC’s book of business, and also began writing new business.
Was this article valuable?
Here are more articles you may enjoy.