CRM Parent Posts $15.7 Million in Operating Losses for 3Q

CRM Holdings, the parent of California-based Majestic Insurance Co. and self-insured trust manager Compensation Risk Management of California (CRM), posted net operating losses of $15.7 million Thursday compared to the same three months of 2008 and announced its involvement with self-insured groups has diminished significantly.CRM Holdings also owns Bermuda-based reinsurer Twin Bridges.CRM Holdings is emerging from a lengthy battle with the New York State Workers' Compensation Board (SWCB) over allegations that CRM mismanaged New York self-insured trusts by underreserving for claims, issui...