New Insurer Receives $20M to Develop WC 'Alternatives'

A one-year-old workers' compensation carrier insuring rural and suburban fire departments has taken out a $20 million credit line in an effort to develop a "workers' compensation insurance alternative" for its customers. Victory Park Capital is providing the $20 million revolving credit facility to 7710 Holdings, the workers' compensation carrier, according to a Wednesday press release. The statement said the money would be used to bring an insurance "alternative" to the market, but didn't elaborate on what that alternative might look like. "The facil...