Battered by Losses, PatNat Turns Focus to Core Comp Services

Patriot National on Tuesday reported a $20.3 million loss for the fourth quarter of 2016 and an $800,000 net loss for the full year. That compares to a net loss of $5.4 million for the prior-year quarter and net loss of $5.4 million for the full year 2015. Patriot National Chief Executive Officer Steven Mariano acknowledged that the results for the quarter and full year were disappointing. Mariano said the company would focus this year on its core businesses — workers’ compensation insurance services and technology. “We believe a focused approach combined with improve...