A review of the Seabright Health Insurance Company leads to the Seabright Holdings, Inc., which has been in business since July 1986. They offer a wide range of insurance plans including:
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With Seabright Holding’s assets equaling $736,933,751, net surplus of $272,201,569 and capital of $3,500,000, business has been good since opening their doors.
Seabright Insurance Company Ratings
According to A.M. Best ratings, Seabright Insurance Company is considered “secure” with a very positive rating. The company has an A- rating, which is known as an Excellent rating from A.M. Best. Ratings can fall anywhere between A++, which is considered Superior, to F, liquidation. Any rating between A++ and B+ is considered “secure.”
Seabright Insurance Company History
Opening in July of 1986 under the name of Heart of America Fire and Casualty Company, Seabright Holdings, Inc. has since grown and evolved to the organization it is today. Seabright bought out Lumbermens Mutual Casualty Company in 2003. This was funded by Summit Partners and top executives of Eagle Insurance Companies.
The purchase was positive and included transfer of Eagle Insurance staff members and also renewal rights and selected assets were included as well. Seabright Insurance added a new area of expertise. The expertise was in underwriting specialty workers’ compensation for maritime employers and construction contractors.
With the new expertise in maritime and construction, Seabright’s financial outlook became even more positive as capital grew as well as financial stability. Its parent company decided to change its name in May 2010 to Seabright Holdings, Inc. Their common shares are traded under the symbol SBX in the N.Y. Stock Exchange.
Seabright Insurance Company Products
Seabright Holdings, Inc. is the parent company of three different companies that specialize in three different areas. These companies are:
- Seabright Insurance Company
- Paladin Managed Care Services
- Pointsure Insurance Services, Inc.
Each company brings their own specialty to the table.
Seabright Insurance Company specializes in high hazard businesses and includes all in one policies that include companies that have cross state and multi-jurisdictional coverage. The following are their specialties:
- Expert claim management, loss control services and medical management
- State Act workers’ compensation (includes construction, manufacturing, health care, energy, refuse management and other specialty industries)
- Maritime employers’ liability
- Collectively bartered workers’ compensation in certain states
- U.S. Longshore and Harbor Workers (this includes Washington USL&H assigned risk coverage)
Paladin Managed Care Services, Inc. also has a large range of care solutions. This company offers high quality medical care of injured workers. This is beneficial for employers as well because Paladin also works to reduce claim costs for them.
Those who can use Paladin services are:
- Insurance companies
- Public entities
- Self-insured employers
- Third party claims administrators
- Specialty insurance programs
- Group health programs
Some of the services Paladin offers are the following:
- Utilization Review
- Medical Bill Review
- Case Management
- Medicare Set-Asides
- Comprehensive Claim Analysis
Pointsure Insurance Service, Inc. offers multi-line insurance products. On top of that, they are licensed in all 50 U.S. states as well as D.C. and Guam. Their services include:
- Workers’ compensation insurance (includes automobile dealers, health care, manufacturing, construction, refuse management, oil and gas employers, as well as other specialty industries)
- Marine insurance (includes U.S. Longshore and Harbor Workers and workers’ compensation) and maritime employers liability
- Commercial contractor’s general liability insurance
Specialty products including:
- Private company D&O insurance
- Professional liability coverage
- Coverage for recruitment
- Media coverage
- Hospitality programs
- Environmental liability coverage
- Employment and staffing agencies
Seabright Insurance Company Contact Information
Seabright Holdings, Inc.
1501 4th Avenue
Seattle, WA 98101
Seabright Insurance Company Customer Service and Claims
Well-qualified employees handle the multi-jurisdictional workers’ compensation claims that many firms come across. State of the art medical and disability management tools are utilized by Seabright in order to have a quick turnaround for workers. Companies and policyholders also can benefit from reduced costs in insurance and also better claim outcomes when utilizing Seabright’s policies.
The claims specialist will begin with careful analysis and find the most effective way to proceed with a claim. A Claims Examiner is chosen and handles the process from start to finish. Branch offices are contacted because of their localized knowledge and legal environment knowledge. All information is collected and placed in an online format for customers to view at any time.
With cutting edge technology, superior management, and handling of services and claims, Seabright is an excellent company in terms of health insurance.
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