Paula Insurance Co. has announced that it will cease writing new workers comp business immediately.The company says it made the move due to worsening claims reserve development on the 1997 through 1999 accident years.In a news release, Paulas chairman, Jeff Snider, says that prior years loss development ruined the momentum the company was getting from better pricing during the last two years. Other factors leading to the decision included poor reinsurance availability after Sept. 11
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