Applied Underwriters appoints Bob Stafford as New Vice President of Finance

October 7, 2002: Applied Underwriters, a premier workers' compensation and financial services company, announced today the appointment of Robert L. Stafford to Vice President of Finance. In this new position, Mr. Stafford will lead the Finance Division of the rapidly growing company.

Mr. Stafford, 42, is a Certified Public Accountant and has been in senior financial positions within the insurance industry since 1986. From 1998 to 2000, he was Chief Financial Officer and Secretary for Berkshire Hathaway Homestate Companies, a group of six property and casualty insurance companies. Previous to his leadership role at Berkshire Hathaway, Mr. Stafford was Controller for Farmers Mutual Insurance Company of Nebraska, a property and casualty insurance company. Mr. Stafford received his B.S. in Finance and Accounting at the University of Nebraska.

"Bob's depth of industry expertise coupled with his financial operations acumen will perpetuate the company's continued growth and position as a financial leader. We are very excited about Bob's appointment," said Sid Ferenc, CEO of Applied Underwriters.

Mr. Stafford's promotion to Vice President coincides with the increased market demand the company is experiencing for its workers' compensation solutions. As other financial service organizations have continued to vacate the workers' compensation field, Applied Underwriters' intelligent, personalized solutions for small to medium-sized companies have become progressively more popular. With thousands of loyal customers and the company's unprecedented growth, the appointment of Mr. Stafford marks a key turn in Applied Underwriters' expansion. The company expects to continue its strong financial growth by doubling in size during 2002.

Applied Underwriters is a premier workers' compensation and financial services company. The company's three solutions – SolutionOne, Equity Comp, and Coverage Dynamics – integrate workers' compensation coverage with employer-related services to ensure the success of small to medium-sized businesses. Its A.M. Best rated A coverage solutions offer unparalleled dependability and reliability. Founded in 1994, Applied Underwriters is headquartered in San Francisco, with a national customer service center in Omaha, NE. Additional information about the company is available at www.applieduw.com.

Return to Press Releases