Dear Policyholder  Annual Report now available as a pdf. go...
2007 was another year of continued profitability and financial stability for FHM. Once again, the company
completed the year in a strong financial position with year-end financials showing our largest ever surplus
of $49.3 million.
Coupled with our strong financial results and outstanding achievements was the loss of our long-time friend and leader, Board Chairman James E. “Jimmy” Brock on September 11, 2007. The memories of Mr. Brock and the experiences we shared with him will always be with us as a constant reminder of how he cared for us and touched our lives. FHM is part of the living legacy of this industry giant who stood tall as a man of honor and
a caring and compassionate human being.
Jack Healan, President of the Amelia Island Plantation Company, became FHM’s new Board Chairman with
a commitment to continue enhancing the company’s ability to maintain its position as an industry leader.
During 2007, we achieved two technology-related milestones. The first milestone came in August 2007, when the last FHM policyholder converted from receiving hard copy loss runs to retrieving them via the FHM website. All FHM agents and policyholders can access claim information online whenever it’s needed and in a variety of formats to meet their individual needs.
The second milestone occurred November 1, 2007 when we completed our conversion to Tropics, a state-of-the-art software system designed for the workers’ compensation industry. Tropics provides greater flexibility to FHM, policyholders and agents for collecting, managing and reporting information. In the very near future, we will be making available to you, the ability to access your policy information on-line.
In October 2007, we joined forces with the Georgia Restaurant Mutual Captive Insurance Company (GRMCIC) whose philosophy is to underwrite properly and consistently, price adequately to ensure financial integrity
and provide high quality loss control, policy and claims servicing to its policyholders – a perfect fit with FHM. As the year came to an end, we rolled GRMCIC’s accounts into our book and began to look for further
opportunities to expand our horizons. I am pleased to report that in April, 2008, FHM received its license to write business in Alabama.
The end of 2007 saw us preparing for another sizeable rate decrease in Florida by developing a strategy to ensure we identify and capitalize on opportunities to enhance our book of business with quality accounts
while maintaining our strong financial position.
As we look forward to 2008, we pause to say a final fond farewell to our long-time friend and leader and to thank each of our policyholders and agents. Your continued willingness to work with us to create and maintain safe workplaces, provide quality care for injured workers, find newer and better ways to manage your workers’ compensation program and explore new horizons. We appreciate your continuing trust and confidence and want you to know we stand firm in our commitment that “A Policy To Do More” is more than just a slogan . . . it’s the way we do business.
Sincerely,
| Bill Bond, Jr. |
Jack B. Healan, Jr. |
Jack Lemine |
| President |
Chairman |
Chief Operating Officer |
|
