Bbsi announces transfer of $116 million of claims liabilities and renewal of fronted workers' compensation program with lower retention levels

Bbsi announces transfer of $116 million of claims liabilities and renewal of fronted workers' compensation program with lower retention levels.barrett business services - agreement to remove all outstanding workers' compensation claims incurred between feb 1, 2014 & dec 31, 2017.barrett business services inc - transaction reduces bbsi's outstanding workers' compensation liabilities by approximately 27%.barrett business services inc - also announced renewal of fronted program effective july 1, 2020.barrett business services - renewed program includes reduction in loss retention from $5 million/occurrence to $3 million & multiyear commitment until 2022.barrett business services inc - third-party collateral requirements have also been reduced significantly.barrett business services - reductions will result in one-time increase in unrestricted cash & investments at june 30 of approximately $48 million.
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