Eastern Alliance Insurance Group History

1997

Educators Alliance Insurance Company (Educators Alliance), a Pennsylvania-based underwriter of workers' compensation insurance, is organized as a joint venture between Eastern Holding Company, Ltd. (Eastern Holding) and Educators Mutual Life Insurance Company.

1998

Educators Alliance develops fronting programs for Pennsylvania-based associations and group consortiums.

1999

Educators Alliance is assigned a B+ (Very Good) financial strength rating from A.M. Best Company - unusual at the time for such a young company.

2000

Eastern Holding acquires Employers Alliance, Inc. (founded in 1983 as Employers Compensation Services) to function as Educators Alliance's claims department, to generate fee-for-services revenue from Pennsylvania's self-insured community of large employers, and to participate in the fronted/captive alternative marketplace.

2001

Eastern Holding successfully negotiates the buyout of its joint venture owner of Educators Alliance and renames the company "Eastern Alliance Insurance Company" (Eastern Alliance).

2002

Allied Eastern Indemnity Company (Allied Eastern) receives approval to underwrite workers' compensation insurance in Pennsylvania. Employers Alliance, Eastern Alliance, and Allied Eastern are restructured under the umbrella of "Eastern Alliance Insurance Group" or "EAIG."

Eastern Alliance Insurance Group's A.M. Best rating is upgraded to B++ (Very Good), accompanied by a very positive rating rationale highlighting EAIG's "improved capitalization, strong operating performance, and superior agency relationships."

Employers Alliance receives approval to provide workers' compensation claims and risk management services to self-insured employers in Maryland.

In November 2002, EAIG moves to its current headquarters at 25 Race Avenue in Lancaster, Pennsylvania.

2003

EAIG receives approval to offer Large Deductible and Retrospective Rating plans in Pennsylvania.

2005

EAIG begins its state expansion project by offering workers' compensation insurance in Maryland and Delaware.