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.
Educators Alliance develops fronting programs for Pennsylvania-based associations and group consortiums.
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.
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.
Eastern Holding successfully negotiates the buyout of its joint venture owner of Educators Alliance and renames the company "Eastern Alliance Insurance Company" (Eastern Alliance).
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.
EAIG receives approval to offer Large Deductible and Retrospective Rating plans in Pennsylvania.
EAIG begins its state expansion project by offering workers' compensation insurance in Maryland and Delaware.
EAIG becomes part of the newly-formed Eastern Insurance Holdings, Inc. (EIHI). EIHI is a publicly-held company (Nasdaq: EIHI) that through its subsidiaries offers insurance products and services to businesses and organizations.
A.M. Best Company upgrades EAIG's financial strength rating to A- (Excellent).
Eastern Advantage Assurance Company is formed, beginning operations in 2008.
EAIG opens its first regional office in Charlotte, North Carolina, expanding EAIG's operational focus to the Southeast.
EIHI acquires Employers Security Holding Company and its subsidiaries, which include Employers Security Insurance Company (ESI), an Indianapolis-based, monoline workers' compensation underwriter. ESI is structured into EAIG as a fourth writing company, and EAIG expands its operations into the Midwest. ESI's Indianapolis headquarters becomes EAIG's Midwest regional office.
EAIG opens its first satellite office in Nashville, Tennessee, and a western PA satellite office in Wexford, Pennsylvania.