Harleysville to restructure field offices, cut work force.Property/casualty insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. Harleysville Group Inc. said it would eliminate 5% of its work force as it makes some changes to how its field offices operate. During a second-quarter earnings conference call, Michael Browne Michael Cardinal Browne, OP (May 6, 1887—March 31, 1971) was an Irish prelate of the Roman Catholic Church. He served as Master General of the Dominicans from 1955 to 1962, and was elevated to the cardinalate in 1962. , president and chief executive officer, said Harleysville would create four regional organizations under which the current 13 field offices would be aligned. These regional organizations are to be based on how Harleysville's Northeast office operates, which Browne called the company's "most profitable and efficiently run field office." In addition to creating regional groups, Browne said the company would consolidate its commercial-lines processing activities, currently spread across its field offices, into two regional processing centers--one in Harleysville, Pa., and one in Worcester, Mass. The reduction of staff from the consolidation will result in an estimated $1 million in pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when charges for the third quarter of 2005, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. |
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