LANCASTER, Pa., Oct. 27 /PRNewswire-FirstCall/ -- Eastern Insurance Holdings, Inc. announced today that it has been named one of the Best Places to Work in Insurance by Business Insurance. EIHI was recognized as one of the top five employers in the small insurer (25-249 employees) category.
This is not the first time that the organization has been honored for excellence in its work environment. EIHI and its subsidiary Eastern Alliance Insurance Group have been recognized five times as one of the Best Places to Work in Pennsylvania.
"We are honored to be recognized as one of the Best Places to Work in Insurance," said Bruce Eckert, Chief Executive Officer of EIHI. "Our continued growth and success would not be possible without our exceptional employees, and we are committed to providing them with an excellent work environment. With EIHI's geographic expansion last year, we are particularly pleased that this national program includes employee survey results from our new regional offices in Indiana and North Carolina."
This is the first year for the Best Places to Work in Insurance recognition program, a joint program of Business Insurance and Best Companies Group. Open to insurers, agents and brokers, the two-part process is designed to gather detailed data about each participating company. It includes an employer questionnaire and an employee survey.
Information on the thirty-three companies selected as an elite group of employers is detailed in a special report in the October 19 issue of Business Insurance. Each company included on the list demonstrated "a minimum standard of excellence," said Peter B. Burke, President of Best Companies Group.
Some of EIHI's progressive benefits include an employee wellness program with an on-site fitness center and wellness coach at its Lancaster offices, immediate healthcare benefit coverage, flexible work arrangements, 401(k) with immediate vestment of company match, and an ESOP program. The company injects a sense of fun into its workday through informal celebrations, and EIHI's employee-led committees plan many events for its employees each year.
EIHI operates through its subsidiaries a domestic casualty insurance group specializing in workers' compensation, a domestic accident and life insurance company, a third-party claims administration company and a specialty reinsurance company. EIHI has regional offices in Lancaster, Pennsylvania, Charlotte, North Carolina, and Indianapolis, Indiana. EIHI's Web address is www.easterninsuranceholdings.com.
FORWARD LOOKING STATEMENTS
Some of the statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "project," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms or other terminology. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, therefore no assurance can be given that management's expectations, beliefs or projections will occur or be achieved or accomplished. Factors that could affect the Company's actual results include, among others, the fact that our loss reserves are based on estimates and may be inadequate to cover our actual losses; the uncertain effects of emerging claim and coverage issues on our business; the geographic concentration of our business; an inability to obtain or collect on our reinsurance protection; a downgrade in the A.M. Best rating of our insurance subsidiaries; the impact of extensive regulation of the insurance industry and legislative and regulatory changes, a failure to realize our investment objectives; the effects of intense competition; the loss of one or more principal employees; the inability to acquire additional capital on favorable terms; a failure of independent insurance brokers to adequately market our products; and the effects of acts of terrorism or war. More information about these and other factors that potentially could affect our financial results is included in our Form S-1 Registration Statement, filed with the U.S. Securities and Exchange Commission and in our other public filings with the U.S. Securities and Exchange Commission. Readers are cautioned not to place undue reliance upon these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statements. This press release also does not constitute an offer to sell, or a solicitation of an offer to buy, EIHI securities. Such an offer will be made only by means of a prospectus.
Eastern Insurance Holdings, Inc.
