AMERISAFE Inc is a holding company and was incorporated in Texas in 1985. The Company is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, mainly construction, trucking, manufacturing, oil and gas and agriculture. It provides coverage to employers under state and federal workers' compensation laws. These laws prescribe wage replacement and medical care benefits that employers are obligated to provide to their employees who are injured in the course and scope of their employment. Its workers' compensation insurance policies provide benefits to injured employees for, among other things, temporary or permanent disability, death and medical and hospital expenses. The benefits payable and the duration of those benefits are set by state or federal law. The benefits vary by jurisdiction, the nature and severity of the injury and the wages of the employee. It employs a proactive, disciplined approach to underwriting employers and providing comprehensive services intended to lessen the overall incidence and cost of workplace injuries. It provides safety services at employers' workplaces as a vital component of its underwriting process and to promote safer workplaces. It utilize intensive claims management practices that it think permits it to reduce the overall cost of its claims. In addition, its premium audit services ensure that its policyholders pay the appropriate premiums required under the terms of their policies and enable it to monitor payroll patterns that cause underwriting, safety or fraud concerns. The Company provides workers' compensation insurance mainly to employers in the following targeted hazardous industries: Construction, Trucking, Manufacturing, Agriculture, Oil and Gas, Maritime and Logging. The Company sells its workers' compensation insurance through agencies. As of December 31, 2013, its insurance was sold through more than 3,175 independent agencies and its wholly-owned insurance agency subsidiary, Amerisafe General Agency, which is licensed in 27 states. Its competitors include other insurance companies, individual self-insured companies, state insurance pools and self-insurance funds.
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