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Florida self-insurance fund acquires MidSouth

FCBI, an Orlando, Florida-based group self-insurance fund providing workers compensation insurance to construction and agricultural policyholders, said Thursday that it has acquired MidSouth Mutual Insurance Co.

MidSouth, which is based in Hendersonville, Tennessee, will now go by MidSouth Insurance Co., and will operate as a subsidiary of FCBI, which stands for Florida, Citrus, Business and Industries.

FCBI, which has about 6,500 member policyholders, started off offering workers comp insurance to Florida citrus growers but later expanded to offer coverage to construction companies. It now services policyholders in 16 states.

About 40 employees would be involved with the acquisition, according to an FCBI spokesman. He said MidSouth was previously operated by a third-party administrator.