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Key Risk Insurance Co., a W.R. Berkley Corp. company, said that it formed a new division focused on providing workers compensation and United States Longshoreman and Harbor Workers Act insurance programs nationally.
Greensboro, North Carolina-based Key Risk is a provider of workers compensation insurance products and services for employers throughout the eastern U.S.
Seattle, Washington-based Steven Ritchie has been named director of underwriting for longshoreman and harbor workers. Previously, Mr. Ritchie was western region manager at American International Group Inc.
“We are excited to establish a national division and build upon a platform for Key Risk to serve employers seeking customized solutions in the specialty workers compensation marketplace. Steve’s experience and specialization will enable Key Risk to leverage our workers compensation expertise to develop both product and service offerings specific to the needs of employers who require USL&H solutions within their risk management programs,” Rob Standen, president of Key Risk, said in a Friday statement.
The Pension Benefit Guaranty Corp. said Tuesday it has paid out more than $284,000 — the first of what will be millions of dollars in payments — to cover benefits for 365 participants in two insolvent multiemployer pension plans.