Wayne Metcalf, the Hawaii Insurance Commissioner, announced in March that the Insurance Division has authorized four new insurers to write workers’ compensation insurance in Hawaii.
The authorization for General Casualty Company of Wisconsin and Regent Insurance Company will be effective April 5, 2001, and the authorization for AIG Hawaii Insurance Company and American Pacific Insurance Company will be effective May 1, 2001.
“The authorization of these insurers to write workers’ compensation insurance in Hawaii provides increased stability in the Hawaii market, while also creating greater competition and providing businesses with new options,” Metcalf said.
Earlier in the year, three insurers writing workers’ compensation insurance in Hawaii, Fremont, HIH America Insurance Co. of Hawaii Inc., and Eagle Insurance Group, left the state.
Metcalf said, “Those carriers left not because of Hawaii’s environment, but because of losses incurred writing in other states,” adding that there are a number of companies that have made filings to enter the workers’ compensation market here and others considering such actions.
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