AMERISAFE Announces Election of Philip A. Garcia to Board of Directors

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DERIDDER, La., Nov. 18 /PRNewswire-FirstCall/ -- AMERISAFE, Inc. AMSF, a specialty provider of high hazard workers' compensation insurance, announced today that Philip A. Garcia, age 53, has been elected to the Company's Board of Directors, effective January 1, 2010.

C. Allen Bradley, Jr., AMERISAFE's Chairman, President, and Chief Executive Officer, stated, "We are extremely pleased to welcome Phil to our Board of Directors. Phil has a remarkably wide range of insurance experience and a long history of performance excellence."

Jared A. Morris, the Chairman of AMERISAFE's Nominating and Corporate Governance Committee, said, "The Committee is pleased that Mr. Garcia accepted our invitation to serve on the AMERISAFE Board. We believe that Phil has both the financial background and insurance industry experience that we were seeking in a new director."

Mr. Garcia retired from the Erie Insurance Group in April, 2009, where he served as Executive Vice President and Chief Financial Officer for the last 12 years of his 28-year career with that company. Erie Insurance Group is the 14th largest writer of private passenger automobile insurance and the 18th largest writer of property/casualty insurance in the United States. At Erie Insurance Group, Mr. Garcia was involved in multiple aspects of management, including finance, accounting, auditing, and life insurance company operations. He began his career with Erie Insurance Group in 1981, after graduating from Grove City College in Grove City, Pennsylvania and becoming a CPA in 1980.

Mr. Garcia has been a member of the Board of Trustees of Hamot Health Foundation and Hamot Medical Center, a $400 million non-profit health system located in Erie, Pennsylvania since 2005, and has also served on the Board of Trustees of Grove City College.

AMERISAFE, Inc. is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, agriculture, logging, oil and gas and maritime. AMERISAFE actively markets workers' compensation insurance in 30 states and the District of Columbia. The Company's financial strength rating is "A-" (Excellent) by A.M. Best.

Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "anticipate," "expect," "estimate," or similar words are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE's plans and performance. These statements are based on management's estimates, assumptions and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from the results expressed or implied in these statements as the results of risks, uncertainties and other factors including, but not limited to, the factors set forth in the Company's filings with the Securities and Exchange Commission, including AMERISAFE's Annual Report on Form 10-K for the year ended December 31, 2008. AMERISAFE cautions you not to place undue reliance on the forward-looking statements contained in this release. AMERISAFE does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

    Contacts:  G. Janelle Frost, EVP & CFO
               AMERISAFE, Inc.
               337-463-9052

               Ken Dennard, Managing Partner
               Karen Roan, Sr.VP
               DRG&E  /  713-529-6600

SOURCE AMERISAFE, Inc.

Copyright 2009 PR Newswire

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