When FHM Insurance Co. decided to expand outside of Florida in 2008 and work with a wider variety of businesses, it wasn’t initially smooth sailing for the monoline workers’ compensation carrier.
The troubles, which were exacerbated by the economic downturn, culminated in 2012 with the company receiving a ratings downgrade from A.M. Best.
But a turnaround plan that included predictive analytics as an underwriting tool has improved results. FHM’s combined ratio last year was 104, and the company had a $500,000 surplus in the first half of this year, said Matt Whisen...
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