LANCASTER, Pa., June 28 /PRNewswire-FirstCall/ -- Eastern Insurance Holdings, Inc. (Nasdaq: EIHI) announced today that Joe Adams has joined Eastern Alliance Insurance Group (EAIG) as a Marketing Executive in its Tennessee territory. EAIG, a domestic casualty insurance group specializing in workers' compensation insurance, is an indirect wholly-owned subsidiary of EIHI.
Adams will be based out of EAIG's new Franklin, Tennessee office, a satellite location of EAIG's Charlotte, North Carolina regional office. Earlier this year, EAIG announced the opening of the office to service its recent expansion into the Tennessee workers' compensation market place.
"We welcome Joe to the Eastern family of companies," said Bruce Eckert, Chief Executive Officer of EIHI. "His experience in commercial insurance lines and relationships in the Tennessee territory are a tremendous asset to Eastern as we extend our full line of workers' compensation products and services to the territory."
Adams has more than twenty years of underwriting, marketing and management experience in Tennessee's property and casualty insurance industry. He most recently served as a Territory Manager for the Liberty Mutual and Wausau Insurance companies and previously served in various roles for Travelers, Hartford Insurance and Willis. Adams serves on the Board of Trust for Cumberland University in Lebanon, Tennessee. He graduated from Centre College in Danville, Kentucky with a Bachelor of Arts degree and has earned the Chartered Property Casualty Underwriter designation.
EAIG provides a complete line of workers' compensation products and services, as well as its exclusive ParallelPay® "pay-as-you-go" premium payment option. Founded in 1997, EAIG is one of the top ten providers of workers' compensation insurance in Pennsylvania. In addition to its Southeast offices, EAIG has Mid-Atlantic and Midwest regional offices and a satellite office in western Pennsylvania. EAIG distributes its products and services through independent insurance agencies.
EIHI operates through its subsidiaries a domestic casualty insurance group specializing in workers' compensation, a third-party claims administration company and a specialty reinsurance company. EIHI's Web address is www.eihi.com. EAIG's Web address is www.eains.com.
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.