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| | One Carrier Leads to Another By Robert Warne - February 11, 2004With the news that a new work comp carrier is ready to enter the California market there’s hope that there will be a sequel to follow.
Whether or not Western Compensation Insurance’s recent application with the Department of Insurance (DOI) to write business in the state is the genesis of good things to come, one new carrier is definitely better than none.
Insurance Commissioner John Garamendi said that in the last six months, three or four carriers have sent official inquiries to the DOI regarding their interest in doing business in California, the Sacramento Business Journal reported.
As far as Western Compensation goes, realistically the earliest it could be up and writing new business would be in about four months. But if the company runs into any snags with the DOI during the approval process or if there’s any financial glitches along the way the opening could be delayed indefinitely.
According to the Journal, the company’s incorporation papers names Bill Trzos as its representative. As the president of Cypress Point Insurance Services, a work comp agency in San Diego, Trzos is well aware of what Western Compensation is getting into.
While some may be apprehensive about this company’s bold $100 million move into a market dripping in red ink, claims professionals can rest easy knowing that there’s going to be lots of work when the claims eventually do come to town. |