LANCASTER, Pa., June 25 /PRNewswire-FirstCall/ -- Eastern Insurance Holdings, Inc. (Nasdaq: EIHI) announced today it has established a satellite office in western Pennsylvania in support of its subsidiary Eastern Alliance Insurance Group (EAIG), a domestic casualty insurance group specializing in workers' compensation insurance.
"EAIG's new satellite office will allow us to better serve and further expand on our already significant client base in the western Pennsylvania territory," said Bruce Eckert, Chief Executive Officer of EIHI.
The Wexford, Pennsylvania site is a satellite location of EAIG's Lancaster-based Mid-Atlantic regional office, and is staffed with marketing, underwriting, claims and risk management professionals. 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 has become one of the top ten providers of workers' compensation insurance in Pennsylvania, writing casualty insurance products in the state through subsidiaries Eastern Alliance Insurance Company, Allied Eastern Indemnity Company, and Eastern Advantage Assurance Company.
In addition to the Lancaster and Wexford offices, EAIG has a Southeast regional office in Charlotte, North Carolina and recently opened a satellite office in Tennessee. EAIG also has a Midwest regional office in Indianapolis, Indiana. 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.