FHM Insurance Company and Georgia Restaurant Mutual Captive Join Forces to Serve the Workers' Compensation Needs of Georgia's Hospitality Industry
Jacksonville, FL (October 2007) - FHM Insurance Company and Georgia Restaurant Mutual Captive Insurance Company (GRMCIC) today announced they have joined forces to offer workers’ compensation insurance for the hospitality industry in Georgia. FHM, who has been the leader in serving the hospitality industry in Florida for over 50 years, brings its financial strength and wealth of knowledge and experience to the Georgia market.
"We are delighted to align ourselves with FHM. To combine with another carrier that caters to the hospitality industry is a formula for success that can benefit current and future policyholders," said John Mamalakis, GRMCIC Program Administrator. "Throughout our 15-year history, our goal has always been to be a leader in workers' compensation in the hospitality industry, and we think this new venture helps solidify our position."
"FHM is very fortunate to be able to join forces with an organization whose philosophy of strong underwriting and loss control matches ours," said Bill Bond, Jr., FHM President. "We are excited to team up with John and the GRMCIC Board to oversee this program. This relationship is of real benefit to FHM, and we intend to bring to Georgia's hospitality industry our commitment to the same high level of service, loss control and claims management we have been delivering to policyholders in Florida for over 50 years."
Georgia Restaurant Mutual Captive Insurance Company (GRMCIC) was formed January 1, 1997 from the merger of two independently successful self-insurance trusts - Restaurant Owners Self- Insurance Association (ROSA) SIF and Georgia Fast Food Association (GAFFA) SIF. GRMCIC's philosophy is to underwrite properly and consistently, price adequately to ensure financial integrity, increase surplus through profitability that supports growth and ultimately return profits by plan year in the form of dividends to members. Under the FHM umbrella, the program in Georgia will be able to offer a group dividend as well as be written on a non-assessable contract protected by the GA Guaranty Fund. GRMCIC currently writes about $2,500,000 in Georgia business and about $800,000 in adjoining states, where coverage is provided for members' non-Georgia operations. Over $2,800,000 has been returned to policyholders in approved dividends since 1993.
FHM Insurance Company is Florida’s oldest and most experienced workers’ compensation company. Formed in 1954 by a group of hoteliers, FHM is dedicated to a philosophy of "A Policy To Do More." FHM leads the industry in delivering the "lowest ultimate cost" in workers’ compensation through cutting-edge cost containment, loss control, fraud and safety programs. In addition, FHM utilizes state-of-the-art technology to give policyholders and agents immediate access to the information they need to effectively manage their workers’ compensation programs. FHM is licensed to write workers’ compensation in Florida, Georgia and Alabama. For more information, visit www.fhmic.com.
Media Contact
Patricia Patterson, Patterson Marketing Group, 727-934-5320; pat@pattersonmarketing.com
John Mamalakis, CPCU, CWCP
Program Administration Specialists, Inc., 912-927-0005; john@grmcic.com
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