Washington Casualty Reinstated in Oregon

October 5, 2007

Medical professional liability insurer Washington Casualty Co. announced that it has earned the reinstatement of its license to underwrite insurance in Oregon, as determined by the Oregon Department of Insurance.

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 and is the latest reflection of the significant progress made by WCC under FinCor’s direction, it said. The organization is now financially stable and growing, with 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, according to company figures.

FinCor Holdings is a Lansing, Mich.-based integrated risk management corporation.

Source: FinCor Holdings

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