Stonetrust Workers’ Compensation Insurance Company will begin writing workers’
compensation coverage in Iowa, effective Oct. 1.
“We are excited to begin writing coverage in Iowa and Georgia and look forward to growing our brand in both states,” said CEO and President Michael G. Dileo in a statement. “This is a natural progression of our expansion strategy and these markets were the next logical choices.”
The insurance company recently had its Financial Strength Rating (FSR) upgraded to A- Excellent by AM Best. The ratings reflect Stonetrust Insurance Group’s “very strong” balance sheet strength, as well as its “adequate operating performance, limited business profile and appropriate enterprise risk management (ERM),” according to a release.
Stonetrust will also be expanding its coverage to Georgia next month, marking a dozen states in which the Baton Rouge-based company will provide workers’ compensation and employers’ liability insurance.
In 2021, Stonetrust expanded into Alabama and Kansas. Stonetrust is a Nebraska domiciled insurance company focuses on the construction, wholesale, retail and manufacturing sectors.