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The once attractive California workers’ compensation insurance business has lost its appeal in recent months. Calco Insurance Brokers & Agents, Inc. is the latest to divorce its WC line of business.

adjustercom.com learned from a well-placed source that Calco plans to announce the sale of its WC line Wednesday, June 6. According to the source, Calco doesn’t need the WC business to carry the company. Calco’s strength currently is in its other lines of insurance including Property & Liability, Group Health Plans, Directors and Officers Liability, Cyber Liability, Employment Practices Liability, Dental, LTD, Life and Vision.

The Wednesday announcement of the purchaser of the WC book of business will be made in a meeting with managers. It is not clear if examiners will be offered jobs at the purchasing company. Supposedly, there will be some nice severance packages on the table for examiners.

Calco is a privately owned, regional insurance brokerage that provides California-based companies with a full array of insurance and employee benefits products and services that cover its clients’ national and international exposures.