History
Applied Underwriters was first founded in 1994 by Sid Ferenc and Steve Menzies as a profit-driven worker's compensation insurance company. Originally based in the San Francisco Bay Area, it has since expanded across the country, diversifying its products to suit the needs of clients in every state.
In 2001, Applied Underwriters brought its claims handling inhouse, establishing an operations center in Omaha, Nebraska.
In 2005, Applied Underwriters founded its own insurance carrier, called California Insurance Company. Upon doing so, A.M. Best immediately gave the new company an 'A-' rating to reflect its growing potential. It has since upgraded its rating to an 'A' for North American Casualty Group, which California Insurance became a member of shortly after Applied Underwriters went national.
In 2006, Applied Underwriters was acquired as a subsidiary by Berkshire Hathaway due its longtime association with another Berkshire Hathaway subsidiary, General Re. Upon the heels of this announcement, Applied Underwriters started its own PPO health provider, Promesa Health, to sell drugs, treatments, and coaching to its clients.
Read more about this topic: Applied Underwriters Inc.
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