Last $37.09 USD
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As of 4:00 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2301 Highway 190 West

DeRidder, LA 70634

United States

Phone: 337-463-9052

Fax: 800-450-1091

AMERISAFE, Inc. provides workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, manufacturing, and agriculture. The company provides coverage to employers under state and federal workers’ compensation laws. These laws prescribe wage replacement and medical care benefits that employers are obligated to provide to their employees who are injured in the course and scope of their employment. Its workers’ compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death and medical and hospital expenses. The benefits payable and the duration of those benefits are set by state or federal law. The benefits vary by jurisdiction, the nature and severity of the injury and the wages of the employee. As of December 31, 2012, the company had approximately 7,300 voluntary business policyholders. Targeted Industries The company provides workers’ compensation insurance primarily to employers in the following targeted hazardous industries: Construction: It includes a range of operations, such as highway and bridge construction, building and maintenance of pipeline and powerline networks, excavation, commercial construction, roofing, iron and steel erection, tower erection, and various other specialized construction operations. Trucking: It includes a spectrum of various operations, including contract haulers, regional and local freight carriers, special equipment transporters, and other trucking companies that conduct various short- and long-haul operations. Manufacturing: It includes a group of policyholders’ businesses, such as the production of goods for use or sale using labor and machines, tools, chemical and biological processing or formulation. Agriculture: It includes crop maintenance and harvesting, grain and produce operations, nursery operations, meat processing, and livestock feed and transportation. Oil and Gas: It includes various oil and gas activities, including gathering, transportation, processing, production, and field service operations. Maritime: It includes ship building and repair, pier and marine construction, inter-coastal construction, and stevedoring. Logging: It includes tree harvesting operations ranging from labor intensive chainsaw felling and trimming to mechanized operations using heavy equipment. Sales and Marketing The company markets its insurance in 30 states and the District of Columbia. It is licensed in an additional 17 states and the U.S. Virgin Islands. The company sells its workers’ compensation insurance through agencies. As of December 31, 2012, its insurance was sold through approximately 3,200 independent agencies and its wholly-owned insurance agency subsidiary, Amerisafe General Agency, Inc., which is licensed in 28 states. Strategy The company’s strategies are to focus on underwriting profitability; increase market penetration; prudent and opportunistic geographic expansion; and capitalize on development of information technology system. Regulation State Insurance Regulation: American Interstate and Silver Oak Casualty, Inc. are primarily subject to regulation and supervision by the Louisiana Department of Insurance and Workers’ Compensation Commission. American Interstate of Texas is primarily subject to regulation and supervision by the Texas Department of Insurance and Workers’ Compensation Commission. Federal Law and Regulations: The company is subject to the United States Longshore and Harbor Workers’ Compensation Act (the USL&H Act) and the Merchant Marine Act of 1920 (Jones Act). The company is also subject to regulations related to the USL&H Act and the Jones Act. History AMERISAFE, Inc. was incorporated in Texas in 1985.

 

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