POST FALLS, Idaho--(BUSINESS WIRE)--Command Center, Inc. (OTCBB: CCNI) (http://www.otcmarkets.com/stock/CCNI/quote), a national provider of on-demand and temporary staffing solutions, announced it has contracted with Zurich American Insurance Company, a subsidiary of Zurich Financial Services Ltd, to provide Command with its workers’ compensation coverage nationwide. Zurich Financial Services Ltd is one of the world’s largest top-rated insurance carriers, operating globally in more than 170 countries.
The company said that the new insurance program is a guaranteed cost policy with zero deductible. Command’s management is confident that the new program will “greatly limit its risk of employing thousands of individuals, while at the same time reduce its cash flow requirements for workers’ compensation insurance when compared with the company’s previous program.”
“This is a significant step forward in the development of our company into a top-notch risk management organization,” said Command’s Chief Financial Officer, Jeff R. Mitchell. “We continue to upgrade our workers’ compensation program to a higher level. With this guaranteed cost plan, we will not have to post collateral to fund future claims nor will we have any lingering tail liability.”
Mr. Mitchell added, “Controlling insurance costs without compromising safety is a major challenge for all labor and staffing companies. I’m thrilled that we have found a solution with an A+ rated company like Zurich that significantly lowers our risk, benefits our cash flow and increases the quality and scope of our insurance coverage.”
About Command Center, Inc.
The company provides on-demand employment solutions to businesses in the United States, primarily in the areas of light industrial, hospitality and event services, as well as other assignments. Additional information on Command Center is available at www.commandonline.com.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, the severity and duration of the general economic downturn, the availability of worker's compensation insurance coverage, the availability of capital and suitable financing for the Company's activities, the ability to attract, develop and retain qualified store managers and other personnel, product and service demand and acceptance, changes in technology, the impact of competition and pricing, government regulation, and other risks set forth in the Form 10-K filed with the Securities and Exchange Commission on March 16, 2011 and in other statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.