West Virginia state agencies will have a new workers’ compensation insurance provider beginning next month.
Zurich Insurance Co. submitted the winning bid of $19 million for the one-year contract. Zurich will replace BrickStreet Mutual Insurance Co.
Acting Insurance Commissioner Michael Riley tells the Charleston Daily Mail that Zurich offered a better deal than BrickStreet.
BrickStreet had provided the coverage since the Legislature created it in 2005 to replace a state-run workers’ compensation system. BrickStreet spun off as a private company the following year, and competing insurers entered the workers’ compensation market in 2010.
Zurich will take over workers’ compensation coverage for state agencies on Oct. 1.
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