FORT WORTH, Texas, June 4, 2012 (GLOBE NEWSWIRE) -- Hallmark Financial Services, Inc. (Nasdaq:HALL) announced today that its subsidiaries, American Hallmark Insurance Company of Texas and Hallmark Specialty Insurance Company have appointed Accident Insurance Services, Inc. ("AIS") to market and produce insurance products for Texas employers that do not purchase workers compensation insurance (non-subscribers). The Hallmark subsidiaries have also appointed Caprock Claims Management, an affiliate of AIS, to provide administrative services and to handle claims on the subject business.
Mark J. Morrison, President and Chief Executive Officer, said, "We are pleased to initiate this relationship with the team of experienced insurance professionals at Accident Insurance Services. AIS has been a recognized leader in alternatives to workers compensation in Texas since 1988 and our appointment of AIS furthers Hallmark's business strategy of being a diversified underwriter of niche insurance products. Non-subscription products broaden our suite of commercial product offerings to businesses within our largest, most significant state."
Michael L. Davis, President and Chief Executive Officer of AIS, said, "Employers in Texas have always had the choice of 'opting-out' of workers compensation. Non-subscription insurance products offer the employer a responsible alternative to workers compensation insurance in which they are encouraged to manage their costs and provide a safer workplace to their employees. Our appointment with Hallmark as its facility for non-subscription insurance products provides AIS with expanded marketing opportunities and access to additional commercial insurance products. Everyone at AIS is very excited about the relationship with Hallmark."
Hallmark Financial Services, Inc. is an insurance holding company, which, through its subsidiaries, engages in the sale of property/casualty insurance products to businesses and individuals. Our business involves marketing, distributing, underwriting and servicing commercial insurance, non-standard personal automobile insurance and general aviation insurance, as well as providing other insurance related services. Our business is geographically concentrated in the south central and northwest regions of the United States, except for our general aviation business which is written on a national basis. The Company is headquartered in Fort Worth, Texas and its common stock is presently listed on NASDAQ under the symbol "HALL."
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