REINSURANCE TREATIES RENEWED

American Mining Insurance Company has renewed its Primary and Excess Workers’ Compensation reinsurance treaties effective July 1, 2006 thru July 1, 2007.  Overall, there were no significant coverage or rate changes.

The Primary Treaty (Workers Compensation – first $10 Million, General Liability, Automobile Liability and Inland Marine) was renewed with American Re-Insurance Company, the expiring reinsurer.  AmRe has been AMIC’s primary reinsurer since July 1, 2003.

The Excess Workers’ Compensation Reinsurance Treaty which covers WC claims over $10 Million has been renewed in the brokerage reinsurance market with most of the same expiring reinsurers (Aspen Re,Hannover Re,Odyssey Re).  This coverage is placed through Benfield, a reinsurance broker.  Benfield has placed the Excess WC treaty since 2003 and previously placed all reinsurance coverage from 1993 thru 1996.

Commercial Umbrella policies are reinsured by General Reinsurance Corporation under a continuous contract basis(no set expiration date). GenRe has been our sole Umbrella reinsurer since 1989.

Reinsurance costs are our Company’s second largest expense.

To learn more about American Re, visit their website.
You can also view information about them from a factsheet.

Kim Edsall, Johnstown, PA Office Talks About Claims, Inland Marine and Cheerleading

Your 10th Anniversary with AMIC was not too long ago? How have things changed in the insurance industry since you started? And more specifically, how have things changed at AMIC?
I celebrated my 10th anniversary with a lunch at the City View Restaurant, and for the record, my gift was beautiful… Since I started working at AMIC things have changed tremendously.  When I started, we did outside adjusting work under CGH Claims Service.  This was mostly personal lines work that included auto appraising and homeowner’s claims and you can throw in a few farm/barn claims.  This was my first experience working in the field and I loved doing that.  Getting out and meeting people was really an enjoyable part of my job.  As we phased out the Claim Service, I started handling auto, general liability, pollution and worker’s compensation claims for American Mining.  At first, especially with my outside files, everything was done by hand.  There was no computer system for the outside work.  Little by little I started doing work on the computer for AMIC.  This was a great help, especially since I came from a computerized office.  Now we are looking forward to the challenge of paperless files.

Did you work in insurance before you started with AMIC? Where did you work? How long have you been in the industry?
Prior to working at AMIC, I worked for a personal lines carrier, Anthem Casualty Insurance, for 6 1/2 years.  I handled auto liability and homeowner’s claims.  I have worked in the insurance industry for almost 17 years.  Before that, I handled bookkeeping and payroll for the different companies I worked for.

What do you think you’d be doing if you weren’t working for AMIC?
Hopefully working for another insurance company.  I am one of the rare breeds, or so I’m told, because I enjoy handling claims.  While some people feel it is the same thing day in and day out, I like the challenges that go along with the job.  There is rarely a day that goes by that I do not learn something.

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