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Member Companies of Builders Insurance Group Rated "A" (Excellent) by AM Best

Member Companies of Builders Insurance Group Rated "A" (Excellent) by AM Best
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Florida Man Accused of Failing to Pay $193K in Workers' Comp Premium

Florida Man Accused of Failing to Pay $193K in Workers’ Comp Premium
May 13, 2021
A Florida man has been arrested for workers’ compensation premium fraud and additional charges for allegedly concealing payroll information to avoid paying more than $193,000 in workers’ compensation premiums, according to a statement from the Florida Department of Financial Services.
Julio Enrique Maldonado, owner of G.G.M. Construction LLC, faces charges of workers compensation fraud, under reporting payroll greater than $100,000, workers compensation fraud – false statements on application greater than $100,000, and Florida communication fraud aggregated value of $50,000 or more.
The charges follow an investigation by the DFS Division of Investigative & Forensic Services (DIFS), Bureau of Workers Compensation Fraud that found Maldonado claimed $120,000 in annual payroll to Builders Insurance Co. for the policy periods of February 2018 to ....

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Builders Insurance Group Names Todd M. Campbell President and CEO

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ATLANTA, March 8, 2021 /PRNewswire/ Builders Insurance Group today announced the appointment of Todd M. Campbell to assume the role of President and Chief Executive Officer. He will join the Company effective April 5, 2021. In this position, Mr. Campbell will lead the Company and will provide strategic direction to its operations.
Todd brings 30 years of leadership and business expertise to our Company, and we are very pleased to welcome him to our team, said Allen Richardson, Chairman of the Board of Directors of Builders Insurance Group. He has a tremendous record of successful leadership of high growth companies, and his strategic, operations, and financial insights will be invaluable as we grow the Company and strengthen our ability to provide outstanding products and services to our agents and policyholders. ....

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AM Best Assigns Credit Ratings to Specialty Builders Insurance Company

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AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a to Specialty Builders Insurance Company (Specialty Builders) (Atlanta, GA). The outlook assigned to these Credit Ratings (ratings) is stable. Specialty Builders is a newly formed subsidiary of Builders Insurance (A Mutual Captive Company), which is a member of Builders Insurance Group.
The ratings reflect Specialty Builders balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).
Specialty Builders is fully owned by Builders Insurance (A Mutual Captive Company), and the parent maintains responsibility for this company. Specialty Builders primarily provides workers compensation and general liability insurance with a focus on the construction industry. Specialty Builders leverages the knowledge and expertise of the group s mana ....

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