Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Employers Holdings Falls on California Costs

Feb. 20 (Bloomberg) -- Employers Holdings Inc. plunged the most since 2008 as the workers’ compensation insurer’s profit fell on California claims costs.

The insurer dropped 15 percent to $20.56 at 4:02 p.m. in New York. Employers slipped 3.3 percent in the past 12 months, compared with the 27 percent jump of the Russell 2000 Index.

Fourth-quarter net income dropped 84 percent to $14.2 million as claims costs increased, the Reno, Nevada-based company said late yesterday. Chief Executive Officer Doug Dirks has been raising rates and slowing growth in California after being burned by higher-than-expected expenses in the most populous U.S. state.

“Adverse loss trends in the Los Angeles area,” fueled the increase in costs, Dirks said in a statement. “We are continuing to implement a comprehensive review of our operations” to reduce expenses.

To contact the reporter on this story: Alexandria Baca in New York at

To contact the editor responsible for this story: Dan Kraut at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.