ManagedComp Enters WC Agreement

By Caroline McDonald

NU Online News Service, April 24, 11:14 a.m.EST?ManagedComp, Inc., an underwriter and third partyadministrator said it has signed a service agreement withCincinnati-based Mitsui Sumitomo Marine Management (U.S.A.), Inc.,a division of Mitsui Sumitomo Insurance Group of Tokyo.

The announcement was made last week. Under the agreement,Woburn, Mass.-based ManagedComp said it would manage workers' compservices including health and safety, claims and case management,beginning in Pennsylvania, New Jersey and Georgia.

"In today's hardening market, the field of quality workers'compensation carriers and service providers is diminishing," ChipClausen, vice president, strategic business development forManagedComp told the National Underwriter.

He said the relationship would combine, "the strength of an A++rated carrier with a TPA that delivers results significantly betterthan industry averages."

Nancy A. Froude, ManagedComp president and chief executiveofficer, said that with the hardening workers' comp market, "it'sour responsibility to manage our clients' losses by offering them afull set of TPA services backed by solid coverage options."

The relationship with Mitsui, she said, provides "a new, highlyrated insurance market for our clients."