New Calif. Comp Carrier Receives $50M in Capitalization

Applied Underwriters announced that it has provided $50MM in capital to its wholly-owned subsidiary, the California Insurance Company (CIC). Applied Underwriters acquired CIC in 2003 from General Electric’s Coregis Group. CIC is domiciled in the state of California and plans eventually to compete in California’s $20-billion workers’ compensation insurance market.

Applied Underwriters, the leader in integrated workers’ compensation solutions, has over 10 years’ experience underwriting in California. “We’re bullish on California,” said Carl J. DeBarbrie, Jr., senior vice president at Applied Underwriters. “We believe the recent series of legislative reforms makes this an excellent time to focus our resources on the California marketplace.” For additional information, contact Carl DeBarbrie at (415) 656-5000 or cdebarbrie@applieduw.com.