FCBI, a Florida-based workers’ compensation fund, is acquiring Tennessee-based MidSouth Mutual

FCBI, a self-insurance fund founded 45 years ago to provide workers’ compensation plans to Florida citrus growers, is expanding far beyond the Sunshine State with the acquisition of MidSouth Mutual Insurance Co. from Tennessee.

MidSouth was demutualized and renamed MidSouth Insurance, FCBI said in a news release.

FCBI, once known as the Florida Citrus Business & Industries Fund, has expanded beyond citrus growers over the past four decades and now provides workers’ compensation insurance to construction employers.

MidSouth, based in Brentwood, Tenn., also specialized in workers’ compensation coverage for contractors and others in the construction industry. It began in the 1990s, when employers faced rising costs in workers’ compensation insurance, the companies said.

It now offers coverage in 16 states in the Southeast and Midwest.

TOPICS
Florida Mergers and Acquisitions Tennessee Workers Compensation