Employers Holdings and Wells Fargo Bank Enter First Amendment to Third Amended and Restated Credit Agreement
January 03, 2014 at 04:17 pm EST
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On December 31, 2013, Employers Holdings, Inc. and Wells Fargo Bank, National Association entered into a First Amendment to Third Amended and Restated Credit Agreement. This Amendment changed certain terms and conditions in the Third Amended and Restated Credit Agreement as follows: (1) modified Section 4.1 (Punctual Payments) to better suit the amortizing nature of the revolver; (2) modified Section 4.10 (Financial Condition) to reduce the liquidity requirements to 5% of the aggregate commitment amount of the Line of Credit; and (3) deleted Section 5.6 (Pledge of Assets), without substitution.
Employers Holdings, Inc. is a holding company. The Company, through its wholly owned insurance subsidiaries, Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC), Employers Assurance Company (EAC), and Cerity Insurance Company (CIC), is engaged in the commercial property and casualty insurance industry, specializing in workers compensation products and services, which are focused on small and select businesses engaged in low-to-medium hazard industries. Workers' compensation provides insurance coverage for the statutorily prescribed benefits that employers are required to provide to their employees who may be injured or suffer illness in the course of employment. Its Insurance Operations segment represents the traditional business offered through its agents, including business originated from the Company's strategic partnerships and alliances and direct-to-customer business.
EMPLOYERS HOLDINGS, INC. 
