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EAIG will serve as the underwriter for the Program, which offers MBA members access to its tailored group workers' compensation insurance products and services. The MBA is a professional employers' organization with membership comprised of commercial, service and nonprofit organizations, as well as industrial members.
"We are extremely pleased to partner with the MBA, the largest association of its kind in the United States," said Michael Boguski, President and Chief Operating Officer of EIHI. "We believe our emphasis on proactive risk and claim management, industry-leading medical cost management tools, and return-to-work initiatives, will benefit the MBA membership."
"The MBA is committed to helping our members lower the cost of doing business whenever and wherever possible," said MBA President Ralph Pontillo. "We have teamed up with an exceptional partner to provide a group dividend workers' compensation program that will reduce claim costs and return their employees to work faster. EAIG's ParallelPay 'pay-as-you-go' program also protects businesses' cash flow in a challenging economy."
Businesses interested in the Program should contact EAIG for a list of independent insurance agents representing EAIG in their area.
Founded in 1997, EAIG specializes in providing workers' compensation products and services to businesses and self-insured clients. EAIG is a member of the publicly-held Eastern Insurance Holdings, Inc. (Nasdaq: EIHI | Quote | Chart | News | PowerRating) family of companies, with regional offices in Lancaster, Pennsylvania, Charlotte, North Carolina, and Indianapolis, Indiana. EAIG's Web address is www.eains.com.
Founded in 1905, the MBA provides information and services to more than 4,500 member companies located in Pennsylvania, Ohio and New York. The MBA is headquartered in Erie, Pennsylvania. The MBA's Web address is www.mbausa.org.
FORWARD LOOKING STATEMENTS
Some of the statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "project," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms or other terminology. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, therefore no assurance can be given that management's expectations, beliefs or projections will occur or be achieved or accomplished. Factors that could affect the Company's actual results include, among others, the fact that our loss reserves are based on estimates and may be inadequate to cover our actual losses; the uncertain effects of emerging claim and coverage issues on our business; the geographic concentration of our business; an inability to obtain or collect on our reinsurance protection; a downgrade in the A.M. Best rating of our insurance subsidiaries; the impact of extensive regulation of the insurance industry and legislative and regulatory changes, a failure to realize our investment objectives; the effects of intense competition; the loss of one or more principal employees; the inability to acquire additional capital on favorable terms; a failure of independent insurance brokers to adequately market our products; and the effects of acts of terrorism or war. More information about these and other factors that potentially could affect our financial results is included in our Form S-1 Registration Statement, filed with the U.S. Securities and Exchange Commission and in our other public filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance upon these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statements. This press release also does not constitute an offer to sell, or a solicitation of an offer to buy, EIHI securities. Such an offer will be made only by means of a prospectus.
SOURCE Eastern Insurance Holdings, Inc.
http://www.eains.com
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