The Nebraska Insurance Department says two affiliated companies plan to base operations out of Omaha after having called Louisiana home, hiring as many as 10 people as part of moving to a state with one of the nation’s lowest taxes on premiums collected by insurers.
Insurance Department Director Bruce Ramge said his office approved American Interstate Insurance Co. and wholly owned subsidiary Silver Oak Casualty. Both are property and casualty insurers and subsidiaries of Amerisafe Inc.
American Interstate, the department said, sells workers’ compensation to construction, manufacturing, trucking and agricultural operations in 30 states and the District of Columbia. Silver Oak does the same in 11 states.
“These companies are opening an office in Omaha which will serve as headquarters,” Ramge said. “They expect to hire approximately five to 10 employees who will be resident in the Omaha office. Primary operations will continue from the current office in DeRidder, La.”
C. Allen Bradley Jr., Amerisafe’s chief executive, has said he looks forward to a long working relationship with Nebraska, Ramge said.
Nebraska’s tax on premiums collected by insurance companies is 1 percent, Ramge said, which he termed among the lowest in the country.
He said insurers wishing to become “domiciled” in Nebraska — choosing the Cornhusker State as the primary regulator of safety and soundness — apply in writing and agree to an extensive financial examination before moving.
“We want to make sure they are a good fit for the state,” Ramge said.
He said both companies are financially sound, have a long history of selling policies in Nebraska and are “experts in a very specialized field of insurance.”