TeamStaff Inc., a healthcare staffing and specialty payroll services firm, announced Friday that Zurich American Insurance Company has agreed to release the $1.8 million letter of credit that provides security as part of TeamStaff's prior workers' compensation program.
Additionally, the board of directors appointed Peter Black of Wynnefield Capital Inc. to be a member of the board. Black's appointment was effective March 30.
"We are extremely pleased that Zurich has agreed to eliminate the letter of credit that provided security for our legacy PEO workers' compensation program," said T. Ken...
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