LANCASTER, Pa., March 6, 2013 /PRNewswire/ -- Eastern Insurance Holdings, Inc. (NASDAQ: EIHI) announced today the official opening of its Gulf South regional office in support of subsidiary Eastern Alliance Insurance Group ("EAIG"), a domestic casualty insurance group specializing in workers' compensation insurance. EAIG's Gulf South regional office will provide workers' compensation insurance products and services to policyholders in Mississippi, Alabama, Arkansas, and Louisiana.
"I'm pleased to officially announce the opening of our new Gulf South regional office in Madison, Mississippi," said Michael Boguski, President and Chief Executive Officer of EIHI. "The office enables us to offer the region's employers superior, locally-based service, in addition to our exclusive ParallelPay® and ecovery® programs, a full complement of workers' compensation products and services, and furthers EIHI's strategic geographic expansion initiatives."
The Madison, Mississippi office is fully staffed with underwriting, marketing, claims and risk management professionals. In July 2012, EIHI announced the appointment of Steven Weeks as Regional Business Executive for the Gulf South territory.
Founded in 1997, EAIG is a specialty underwriter of workers' compensation products and services for businesses and organizations in the Mid-Atlantic, Southeast, Midwest and Gulf South regions of the United States. EAIG is a member of the publicly-held Eastern Insurance Holdings, Inc. family of companies, with offices in Lancaster and Wexford, Pennsylvania, Charlotte, North Carolina, Carmel, Indiana, Franklin, Tennessee, Richmond, Virginia, and Madison, Mississippi. EAIG's Web address is www.eains.com.
EIHI operates through its subsidiaries a domestic casualty insurance group specializing in workers' compensation products and services and a segregated portfolio cell reinsurance business.
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, as amended. 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 similar 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. 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; 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 growth strategies and investment objectives; the further deterioration in the fixed income and equity security markets, the effects of intense competition; the loss of one or more principal employees; the geographic concentration of our business; the failure of independent insurance brokers to adequately market our products; and other factors described in our 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.
SOURCE Eastern Insurance Holdings, Inc.