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August 25, 2009 at 08:00 PM
GNW-Evergreen Insurance Services L.L.C. has agreed to acquire the assets of eDirect Insurance Services Inc. from Employers Direct Corp.
GNW-Evergreen, Encino, Calif., an insurance broker, also is acquiring the servicing and renewal rights for the directly placed workers’ compensation insurance policies of Employers Direct Insurance Company.
EDirect, which does business as Plenary Insurance Services, and Employers Direct Insurance are subsidiaries of Employers Direct Corp., Agoura Hills, Calif.
Employers Direct, a unit of Alleghany Corp., New York, has been writing workers’ comp insurance in California and other western states.
Employers Direct has had difficulty writing profitable workers’ comp business in California at current prices, and it announced plans earlier this year to drop direct workers’ comp sales and focus on selling coverage through independent agents and brokers.
