Alliance National Insurance

 Alliance Nationwide Insurance Starts to Realign Writings Essay

Alliance Nationwide Insurance Starts to Realign Writings Essay

Alliance National Insurance Begins to Realign Writings 1888 PresRelease ­ Initiates push to write business outside of the State of New York. Fort Washington,  PA ­ Alliance National Insurance Company(ANIC) announced today that its first quarter? 2015 written premium in the state of New York is down 76% versus written premium for the quarter ending? March 2014.  Written premium in New Jersey and Pennsylvania increased 147% for the same time period. ? This is a result of senior management electing to shift its writing to states that are more favorable to? workers comp. Alliance National's president and CEO,  H.  James Agnew said " as a New York domiciled carrier,  we are? committed to providing coverage in our home state.  However,  due to the litigious claims environment and? the ability for claims to reopen without a statute of limitations,  we as management have decided to increase? our focus on non New York exposures. " Eric Bossard,  co­founder and principal of Alliance National added " the opportunities for business are readily? available outside of New York.  Our filings provide us very attractive loss cost multipliers and along with? debit/credit capabilities we have a greater opportunity for rate adequacy.  Industry rate adequacy is the? survival key of work comp carriers.  The timing of realignment resulted in a decrease to our earned premium? which in turn caused a small decrease in our surplus.…...

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