HARRISBURG, Pa., May 17, 2012 /PRNewswire/ -- A recent A.M. Best report showing market share for workers' compensation carriers in Pennsylvania ranks HM Workers' Compensation, a product of HM Insurance Group, as 11th in Pennsylvania, moving the carrier up nine positions in the last five years.
"This report supports our claim that HM Workers' Compensation is one of the fastest growing carriers in the Commonwealth, with a five-year increase of 89 percent in direct premiums written," said Matthew Piroch, senior vice president, Workers' Compensation, HM Insurance Group. "A.M. Best's report clearly demonstrates that our ranking continues to climb -- from 20th in 2007 to 15th in 2009; 12th in 2010 to 11th in 2011."
Released in April by A.M. Best, the leading provider of information about the worldwide insurance industry, the report includes a five-year comparison of premiums and loss experience by state and line for leading property and casualty insurance carriers. Included in the information are direct premiums, written and adjusted loss ratios, and three- and five-year adjusted loss ratio averages.
"We are gaining PA market share every year while growing in the right way -- using sound underwriting principles to ensure our growth is sensible and sustainable," said Piroch. "Our success can be directly attributed to our exemplary service model and administrative results -- including a 96 percent client retention rate, greater than 99 percent technical and financial accuracy, and overall client satisfaction of 3.47 on a four-point scale for account management, claims and loss control."
HM Workers' Compensation is a trusted name in the workers' compensation industry in Pennsylvania. In 2011, the company successfully negotiated aggressive discounts for physician services, pharmaceuticals and physical therapy, generating more than 56 percent savings in 2011 which then go back to clients in the form of lower overall losses that positively affect their ratings for the following year.
SOURCE HM Insurance Group