FCBI, a self-insurance fund founded 45 years ago to provide workers’ compensation plans to Florida citrus growers, is expanding well beyond the Sunshine State with the acquisition of MidSouth Mutual Insurance Co. in Tennessee.
MidSouth has been demutualized and has been renamed MidSouth Insurance, FCBI said in a news release.
FCBI, once known as the Florida Citrus Business & Industries Fund, has expanded beyond citrus growers over the last four decades and now provides workers’ comp insurance to construction-related employers.
MidSouth, headquartered in Brentwood, Tennessee, also has specialized in comp coverage for contractors and others in construction. It began in the 1990s when employers faced increasing costs in workers’ compensation insurance, the companies said.
It now offers coverage in 16 states in the Southeast and Midwest.
Topics
Florida
Mergers & Acquisitions
Workers’ Compensation
Tennessee
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