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CRM Challenges Allegations in SWCB Suit
12/11/2009
intentionally understated the claims of its New York trusts to lowball premiums and attract more members to the trusts.
The board also alleged that CRM falsified reports to the board and failed to tell trust members of its ties to California-based workers' compensation carrier Majestic Insurance Co. Bermuda
Category: News
CRM's Public Offering Off to a Slow Start
12/23/2005
Shares of CRM Holdings Ltd. a manager of workers' compensation self-insurance trusts in New York and California closed at 13.05 Thursday just pennies ahead of the 13 price of its initial public offering Wednesday.
The company which is based in Hamilton Bermuda operates eight self
Category: News
Majestic and CRM Placed on Credit Watch
04/30/2008
Majestic's parent company and CRM's reinsurance subsidiary Twin Bridges as well as affiliates Embarcadero Insurance Holdings and CRM USA Holdings.
CRM Holdings carries a credit rating of "bbb-" from A.M. Best.
Despite assurances Majestic gave the California Insurance Department earlier this month that
Category: News
CRM Pays $3.2M in Dividends to Self-Insurers
08/01/2005
more than 1900 businesses across New York state in many major industry sectors. Currently the CRM trusts have gross written premiums of 180 million including the New York and California programs.
In New York state CRM offers workers' compensation trusts in eight distinct areas of trade
Category: News
CRM Holdings 2Q Profit Up 39%
08/08/2007
services revenues declined to 8.8 million from 9.9 million in the prior year. CRM said the decline is attributable to lower insurance rates in California and the closure by New York state regulators of one of its self-insured groups which lacked sufficient reserves. Reduced commissions on renewing
Category: News
CRM Faces New Suit Seeking More Than $34 Million
01/07/2011
excess insurance policies from its own affiliates while falsely telling the board that it had obtained competitive quotes. California law requires self-insured groups to buy excess insurance covering losses more than 500000 per occurrence and the complaint contends that CRM directed CAP's business to
Category: News
CRM Makes Changes in Top-Level Management
01/02/2007
and other services for workers' compensation self-insured groups in New York California and
Texas. CRM has been in the business of forming and managing self-insured
groups in New York since 1999.
CRM provides self-insured groups with a comprehensive range of
services including assistance in
Category: News
CRM Closing Two Self-Insured Groups, Citing Credit Market
01/13/2009
' compensation insurance on their own instead of continuing to pool their risks.
CRM still manages two other California self-insurance groups but its remaining business is a shadow of what was once an extensive network of self-insurance groups on both the East and West Coasts. Last year the New York State
Category: News
CRM Faked Messages on Yahoo Finance to Create Positive Spin
03/25/2009
in California and owns Majestic Insurance Co. a California-based workers' compensation carrier. CRM Holdings also owns reinsurer Twin Bridges in Bermuda.
But its former operation of eight group self-insured trusts by its subsidiary Compensation Risk Managers CRM has become the vortex of its
Category: News
N.Y. Attorney General Subpoenas CRM Records
04/18/2008
the attorney general has joined the SWCB in an ongoing investigation of failed trusts managed by Compensation Risk Managers CRM sent stock prices plummeting for Bermuda-based CRM Holdings which owns the Poughkeepsie N.Y. trust manager California-based Majestic Insurance Co. and reinsurer Twin
Category: News
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