PARSIPPANY, N.J., Oct. 19 /PRNewswire/ -- GAB Robins, one of the world’s leading claims services firms, announced that it was selected to provide workers’ compensation claims services for Folksamerica Holding Company Inc. in nine western and mid-western states. GAB Robins has become a leader and partner of choice in the runoff of complex discontinued operations with Property and Casualty as well as Workers Compensation organizations, such as Atlantic Mutual Insurance Company and Empire Insurance Company.
Sierra Heath Services Inc., a diversified health care services company based in Las Vegas, sold its Workers’ Compensation subsidiary, California Indemnity Insurance Co. Inc. (CIIC), to Folksamerica Holding Co. Inc., a subsidiary of Bermuda-based insurance holding company White Mountains Insurance Group, Ltd. Under the terms of the agreement, GAB Robins will provide workers’ compensation claims services for CIIC and its related subsidiaries for a period of 15 years. GAB Robins’ will be handling approximately 5,000 claims during the CIIC run-off.
“This agreement further strengthens our reputation for excellence in managing large scale run-off solutions and Workers’ Compensation claims,” said Joseph M. Zubretsky, CEO and President of the GAB Robins Group of Companies. “We’re delighted to be working with Sierra and Folksamerica and look forward to a successful partnership.”
“We’re extremely pleased to have GAB Robins as a partner in managing the CIIC portfolio,” said John Liberator, President of Folksamerica Re Solutions, Ltd. “GAB Robins certainly has the capacity and the expertise to take on a runoff of this size and complexity.”
GAB Robins, which has affiliated operations in 51 countries, provides a comprehensive worldwide network of loss adjusting, third party administration and managed care services. With nearly 4,000 employees worldwide, GAB Robins handles approximately two million claims annually, providing seamless claims services domestically and globally for the property and casualty insurance market. For more information, visit http://www.gabrobinsna.com/.
Folksamerica, a multi-line broker market reinsurer, is a wholly owned subsidiary of White Mountains Insurance Group, Ltd. . With $1 billion in capital, the company ranks among the top U.S. broker market reinsurance companies. Additional information and other items of interest regarding Folksamerica are available at the company’s web site located at http://www.folksamerica.com/. Additional financial information and other items of interest regarding White Mountains are available at White Mountains’ web site located at http://www.whitemountains.com/.
Sierra Health Services Inc. is a Las Vegas-based diversified health care services company that operates health maintenance organizations, indemnity insurers, preferred provider organizations and multi-specialty medical groups. Sierra’s subsidiaries serve more than 530,000 people through health benefit plans for employers and individuals. For more information, visit the company’s Web site at http://www.sierrahealth.com/.
GAB Robins North America, Inc.
CONTACT: Janet Turoff of GAB Robins North America, Inc.,+1-973-993-3850, turoffj@gabrobins.com