Amerisafe Net Income, Premiums Slide in 3rd Quarter

Amerisafe, a high-hazard workers' compensation insurer, reported Friday net income of $4.36 million in the third quarter, down from $15.1 million in the third quarter of 2009."We are disappointed with our third-quarter results, which reflect increasing claims frequency and severity in the quarter," stated Chairman and Chief Executive Officer Allen Bradley. "I am concerned that state-mandated loss costs and premiums may not accurately reflect the claims trends in some of the states in which we operate.  We have launched a number of initiatives relating to underwriting and pricing to fu...