A POLICY TO DO MORE ANNUAL REPORT

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Madeline Virginia Ryan
5 years ago
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1 2014 A POLICY TO DO MORE ANNUAL REPORT

BOARD AND EXECUTIVE STAFF Board of Directors Jack B. Healan, Jr., Chairman William Bond, Jr., Vice Chairman Walter L. Banks George D. Gabel, Jr. Mary Ann Richardson Joseph G.

2 BOARD AND EXECUTIVE STAFF Board of Directors Jack B. Healan, Jr., Chairman William Bond, Jr., Vice Chairman Walter L. Banks George D. Gabel, Jr. Mary Ann Richardson Joseph G. Seay FHM Management Team Matthew J. Lupino, President and Chief Executive Officer Jack Lemine, Executive Vice President Corporate Services Heather McCoy, Vice President Finance Sam R. Boone, Jr., President Claims Liz Morris, Vice President Claims Matt Whisenant, Vice President Insurance Services David Lawhorn, Director of Risk Management Walter L. Banks Mary Ann Richardson George D. Gabel, Jr. William Bond, Jr. Jack B. Healan, Jr. Joseph G. Seay 2

AGENCY PARTNERS I have done business with FHM since my first year in the business. They provide hands-on service from the initial review of a submission to the offering of products to prospects.

3 AGENCY PARTNERS I have done business with FHM since my first year in the business. They provide hands-on service from the initial review of a submission to the offering of products to prospects. They tailor solutions geared specifically to the client. After binding, they provide loss control and service that is exceptional. The best part of FHM is the easy access to decision makers and the speed of the reply. Rare in the insurance business, but appreciated! -Tom Cleary, Vice President Sihle Insurance Group I have represented and worked with FHMIC for over thirty years. Throughout all those years there has been an unwaivering constant--superior and excellent service. Whether it has been underwriting, claims, loss control or agency relations, FHMIC provides the highest quality of service to their customers and to their agents. I have known FHM to be consistent and consistently helpful. Their people are a true pleasure to work with. -M. Decker Youngman, Brown and Brown Insurance Service, claims, loss control, and underwriting are all top-notch and not only do I see it first hand, but even more importantly, so do our clients. And as mastercard says, that is priceless. I can t thank FHM enough for the work provided since day one with myself and SIA Group and I look forward to many more years to come! -Cliff Patterson, Vice President SIA Group Working with FHM Insurance has been an outstanding journey. Unlike other carriers, we feel that FHM is a true partner in writing Workers Compensation business. We can discuss and come up with a strategy for writing new business for any type of account. Our agency looks forward to continued growth with FHM Insurance. -Jimmie Robertson, IGO Insurance There is a big difference between a customer who is satisfied and one who is loyal. The FHM team of dedicated professionals understands the needs and expectations of the agent and policyholder, constantly building the satisfaction and loyalty levels. The entire team of underwriting, leadership management, policy services, claims and risk management associates continually exceed our expectations! We value the mutual partnership and hold our FHM team in high regard. -Teresa Boyd, Senior Vice President, Executive Director, Willis of Florida 3

4 PRESIDENT S MESSAGE Dear Policyholder, First and foremost I would like to thank you, our policyholder, for your business and for entrusting FHM with the responsibility of assisting your injured employees at their time of need and for partnering with us to help manage the costs associated with your workers compensation insurance. Providing high quality care to your employees while controlling the costs is a delicate balance and it is a challenge that requires capable and principled individuals. During my first several months at FHM, I have learned what is meant by A Policy to Do More. Quite simply it means doing whatever we can to ensure our policyholders and their employees have the services and care that they need every day to make a difference in the operation of their company and in the recovery of their employees from injury. I have travelled extensively during my first year in the position, meeting with our agents and policyholders. Universally, they have told me how much they enjoy their working relationship with the FHM team. They tell me that FHM is responsive, professional and passionate about what we do. I am very pleased to be associated with such a group of committed individuals as those that comprise the FHM team. In this report, I am also excited to share with you several testimonials from policyholders that have benefited from their partnership with FHM. I hope you enjoy reading these as much as I did. They are a direct reflection of our team members daily efforts to serve those who have entrusted us with their workers compensation business. I was moved when I recently read this passage that was shared with us by an employee of one of our insureds who was seriously injured on the job and is courageously battling a potentially lifelong disability as a result of his injuries. You all are helping me push along a tragic time in my life. I am sure the event will have a long term affect on me, but you all help me push forward. Thank you all for your support, help, and genuine care. You all are helping me move forward and appreciate the things that really matter in life. Thank you for being amazing people and professionals that actually care 4

PRESIDENT S MESSAGE about their patients. Thank you for everything. It is very gratifying to know that you work with team members that can have a profound effect on an individual s life.

As we look to the future, we know that the workers compensation industry is constantly evolving.

5 PRESIDENT S MESSAGE about their patients. Thank you for everything. It is very gratifying to know that you work with team members that can have a profound effect on an individual s life. Under my leadership, FHM will remain committed to doing what we can to further enhance a level of service to which our customers and agency partners have become accustomed. As we look to the future, we know that the workers compensation industry is constantly evolving. In the coming months and years our industry will face legal challenges questioning the foundation of our workers compensation system as well as the benefit levels paid to injured employees and the fees paid to their attorneys. In addition, the nature of who is an employee and what is a workplace continues to evolve and will certainly lead to new questions about what a compensable injury is. The FHM team is poised to face these challenges head-on. In the days and months ahead I promise to work tirelessly to reinforce existing relationships with our agency partners and their insureds. I, along with the rest of the FHM team, will continue to seek out new opportunities to achieve profitable and sustainable growth. Finally, I will commit to you that our team will make practical investments in infrastructure and staff to ensure our ability to meet the continued needs of our agents and their policyholders. I am thankful to those of you that have put your faith in FHM, some of you for many years. I am enthusiastic about the future of our company and I look forward to sharing our successes with you in future reports. Best Regards, Matthew J. Lupino President and Chief Executive Officer 5

2014 CONTINUING A POLICY TO DO MORE FHM Insurance Company was formed in 1954.

industry. FHM proudly serves policyholders in seven states throughout the Southeast.

6 2014 CONTINUING A POLICY TO DO MORE FHM Insurance Company was formed in Building on a reputation of excellent service, FHM remains the oldest workers compensation insurer based in Florida and continues to maintain its stature as a leader in the workers compensation industry. FHM proudly serves policyholders in seven states throughout the Southeast. Not only does FHM assist businesses in keeping their workers compensation costs low through cutting-edge claims and risk management, fraud and safety programs, and state-of-theart technology FHM builds lasting relationships as our policyholders safety partner. First Sun Management Corporation First Sun Management has been a customer of FHM for several years now. We really appreciate the fact that they treat us like real partners as well as good customers. When we report an accident, FHM s followup is the best. FHM keeps us in the loop with constant communication, and they always seek to help us become better. Joseph J. Turner, CEO Toyota of South Florida I am very happy with the service provided by FHM to Toyota of South Florida. Their help with insurance reviews and site inspections is greatly appreciated. Thanks for looking out for our dealership. Don Savasta, Facility Manager Washington Duke Inn & Golf Club I have enjoyed our relationship with FHM and the professional way that FHM Insurance handles our account. The risk assessment visits are very thorough and help us be a better full service hotel by helping us be in a proactive mode of operation versus a reaction scenario. The online materials are great also. The relationship between SIA Group and FHM Insurance has been a vast improvement to insurance relationships we have had in the past. We are very grateful to FHM for this. Thank you. Rich Nelson, Director of Finance 6 Sam Boone Matt Whisenant David Lawhorn Liz Morris Heather McCoy Matt Lupino Jack Lemine

SINCE 1954 ALWAYS EXCEPTIONAL SERVICE Hooters of South Florida Hooters of South Florida has partnered with FHM Insurance Company for over 20 years.

Their regular site inspections have provided us with some very experienced eyes to help identify potential safety issues or unsafe workplace practices.

Paul Lynch, Vice President & Treasurer Precision Franchising FHM has been great to work with.

7 SINCE 1954 ALWAYS EXCEPTIONAL SERVICE Hooters of South Florida Hooters of South Florida has partnered with FHM Insurance Company for over 20 years. FHM has been very active with us in maintaining a safe work environment for our employees. Their regular site inspections have provided us with some very experienced eyes to help identify potential safety issues or unsafe workplace practices. Our management teams at all locations welcome this input because they realize that Hooters and FHM share the same goal of keeping safety a main priority. Paul Lynch, Vice President & Treasurer Precision Franchising FHM has been great to work with. Their comments and recommendations from personal center visits have enabled us to keep our claims to a minimum. Their website is very user friendly and claims representatives are attentive. David Sanderson, CEO Super Source When I arrived at Super Source 18 months ago and learned FHM Insurance was our workers compensation provider, I just smiled. Having used FHM before, I knew we were in great hands. Their thoroughness, time sensitivity and concern for our best interest is far above reproach. In addition, having the risk management consultant for many years is like having another talented member on your team. Scott E Mahr, President Compass HRM FHM has provided a number of our customers with exceptional service and support. FHM staff have exceeded expectations as it relates to helping our clients proactively manage workers compensation claims and cases; as well as ultimately positively effecting the bottom line costs associated with workers comp. Many vendors talk about partnership, but FHM executive leadership are partners -they walk the talk. Fred Gibbons, President 7

8 2014 FINANCIAL SUMMARY ADMITTED ASSETS $94,927,652 NET INVESTMENT GAIN $2,834,999 POLICYHOLDER SURPLUS $36,150,433 NET WRITTEN PREMIUM $33,271,833 DIVIDEND PAYOUT $2,330,000 FHM has paid 100% of policyholder s dividends since NET PREMIUM WRITTEN TO POLICYHOLDER SURPLUS RATIO 0.92 Net Premium Written to Policyholder Surplus: This ratio is calculated by dividing net premiums written by surplus. This is a key indicator of a company s premium capacity and surplus protection. The acceptable range for this ratio is below 2.0. The lower the ratio, the greater writing capacity and surplus protection the company possesses. OVERALL LIQUIDITY Overall Liquidity: This ratio is calculated by dividing total admitted assets by total liabilities. It indicates the company s ability to cover net liabilities with total assets. The normal range for this ratio for long-tailed liability insurers is 100% to 150%. The higher the percentage, the greater the company s ability to cover net liabilities. 8

9 JUST A FEW OF FHM SUPPORTERS 9

FHMconnect - PART OF FHM S POLICY TO DO MORE: Manage Your Claims Data Quicker, Easier, & More Efficiently at www.fhmic.

com and register for access or just log in if you ve already registered.

10 FHMconnect - PART OF FHM S POLICY TO DO MORE: Manage Your Claims Data Quicker, Easier, & More Efficiently at Complete First Report of Injury Online Quickly Pay Bills and Submit Payroll Online Go to and register for access or just log in if you ve already registered. A POLICY TO DO MORE VI RG IN IA KENTUCKY A NO RT H CA RO LIN SOU TH CAR OLIN A ALABAMA GEO RGI A INSURANCE SERVICES OFFICE P.O. Box , Orlando, FL Phone Toll Free CORPORATE SERVICES OFFICE FLOR IDA 4601 Touchton Road East, Suite 3150, Jacksonville, FL Phone W W W.FHMIC.COM

19COMP SINCE WORKERS A POLICY TO DO MORE FHM annual report INSURANCE COMPANY

19COMP SINCE WORKERS A POLICY TO DO MORE FHM annual report INSURANCE COMPANY A POLICY TO DO MORE WORKERS 54 19COMP SINCE FHM 2005 annual report INSURANCE COMPANY letter from the administration Dear Policyholder: 2005 was FHM s most successful year since 1996, the year we converted