Monument LLC, Forms Cornerstone Comp to Serve Faith-based Schools

August 17, 2004

Monument LLC, a California-based design, implementation and management firm of self-insured workers’ compensation groups, announced that it has formed Cornerstone Comp Inc., a new, self-funded California-based insurance group to serve the workers’ compensation needs of faith-based schools and churches that have schools associated with them.

Cornerstone was founded in conjunction with Premier Church and School, an affiliate of San Joaquin Insurance Associates Inc., of Fresno, Calif. Cornerstone began operations on July 1, 2004, with an initial membership of 18 organizations and is expected to grow through a planned marketing approach.

With the creation of Cornerstone, Monument now has created four self-insured group programs in California, including healthcare, golf, automotive and schools. The firm has three additional self-insured group programs in formation. In these self-funded groups, members assume financial risk for their workers’ compensation insurance, rather than paying a pre-determined premium to an insurance carrier for a fully insured plan.

“Faith-based schools consistently outperform the market as workers’ compensation risks and we expect Monument to achieve the same planned growth, conservative underwriting and program discipline that we have seen in our other self-insured workers’ compensation groups,” said David Bramwell, managing director of Monument. “The partnerships that we formed with leading California brokers, including Premier Church and School, are a testament to the confidence that we have earned in this market.”

For more information, contact Mike Der Manouel, Jr., president of Premier Church and School, at (559) 447-4600.

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