Florida Citrus, Business & Industries Fund (FCBI) has moved its corporate headquarters from Alachua, Florida, to Orlando. FCBI provides workers’ compensation insurance to more than 7,000 policyholders in Florida, and for more than 40 years, has been one of the state’s most financially secure and consistent Funds.
FCBI recently completed its most profitable quarter in the history of the Fund, writing more policies and more premiums than any other first quarter. The Fund has also paid out more than $20 million in dividends back to policyholders in just the last five years.
“FCBI has always focused on serving small businesses that form the backbone of Florida’s economy,” said Debra C. Ruedisili, CEO FCBI. “We are a Florida-grown, Florida-focused company, that deeply cares about this state, its people and its economic health.”
FCBI’s recent relocation has created more than two dozen jobs and it remains committed to growing its workforce in the coming years.
Earlier this year, FCBI, which was formerly marketed as FUBA Workers’ Comp, brought all its marketing and underwriting functions in-house. This move means FCBI will become more efficient, financially stronger and better able to serve its members through a variety of offerings that include medical management, cost containment services and knowledgeable in-house underwriters with an average of 21 years of experience.
“As we look ahead to the next 40 years, FCBI will continue to make changes to benefit its agents and policyholders with an eye toward technology, and one-stop services to help businesses focus on what they do best,” said Jim Emerson, former FCBI CEO and current member of the FCBI Board of Trustees.
The company began its operations as a group self-insurance Fund back in 1977, focusing entirely on providing coverage to the citrus industry. Today, FCBI is a diversified Fund with more than $102 million in assets that partners with retailers, construction firms, artisan contractors and service providers. Since joining FCBI in 2016, Ruedisili, along with 20-year tenured CFO Sam Oswald and the new, talented Orlando based team of employees, has helped to grow FCBI’s policyholder surplus to $25 million in 2017 and to $35 million in 2018.
Emerson added, “FCBI is fortunate to have a multi-faceted leader like Debra, who has decades of insurance experience and who continues to drive this organization to greatness.”
FCBI CEO Ruedisili is one of the few female CEOs in the workers’ compensation industry. In addition to the prominent positions she has held over the past few decades, Debra is also a community leader who has been recognized for her many contributions by such groups as the March of Dimes, Boy Scouts of America, and several educational institutions. She also serves as the Board Chair of the ARC of Palm Beach County, an organization that benefits children and adults with developmental disabilities.
For more information about FCBI, visit fcbifund.com.