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CRD-A on NYSE

CRAWFORD & CO

CRAWFORD & CO is an American insurance agents company, incorporated in Georgia.1 It is headquartered in Peachtree Corners, Georgia.1 Its shares trade on NYSE under the symbol CRD-A.1

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Last updated Oct 21, 2026.

Overview

$1.3BRevenue, fiscal 20252
$19.6MNet income, fiscal 20252

Compare with Baldwin Insurance Group, Inc., SelectQuote, Inc. or CorVel Corporation, or pick any stock.

  • TickerCRD-A on NYSE1
  • IndustryInsurance Agents, Brokers & Service1
  • HeadquartersPeachtree Corners, Georgia1
  • Incorporated inGA3
  • Business address5335 Triangle Parkway, Peachtree Corners, Ga 300923
  • Filer categoryAccelerated filer3

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Headquartered in Atlanta, Georgia, and founded in 1941, the Company is the world's largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations with an expansive global network serving clients in more than 70 countries. For the year ended December 31, 2025, the Company reported total revenues before reimbursements of $1.266 billion.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

1.5%Net margin2
-2.2%Revenue growth, 20252
11.3%Return on equity2
1.09×Debt to equity2
$94.8MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 97% of the revenue CRAWFORD & CO broke down this way in fiscal 2025.

  1. Service$1.3B297%down 2% from 2024
  2. Reimbursements$45.1M23%down 7% from 2024
Products and services by year
Products and services202320242025
Service$1.3B$1.3B$1.3B
Reimbursements$49.8M$48.5M$45.1M

Business segments

International Loss Adjusting brought in 33% of the revenue CRAWFORD & CO broke down this way in fiscal 2025.

  1. International Loss Adjusting$419.4M233%up 7% from 2024
  2. Broadspire$401.9M232%up 4% from 2024
  3. North America Loss Adjusting$304.9M224%down 2% from 2024
  4. Platform Solutions$120.8M210%down 30% from 2024
  5. Crawford Legal Services$18.8M21%down 26% from 2024
Business segments by year
Business segments20242025
International Loss Adjusting$393.1M$419.4M
Broadspire$388.1M$401.9M
North America Loss Adjusting$312.2M$304.9M
Platform Solutions$173.7M$120.8M
Crawford Legal Services$25.5M$18.8M

Regions

United States brought in 58% of the revenue CRAWFORD & CO broke down this way in fiscal 2025.

  1. United States$738.4M258%down 6% from 2024
  2. International Countries_ Otherthan U K And Canada$258.8M220%up 3% from 2024
  3. United Kingdoms$179.4M214%up 7% from 2024
  4. CA [member]$89.2M27%down 2% from 2024
Regions by year
Regions20242025
United States$783.0M$738.4M
International Countries_ Otherthan U K And Canada$250.2M$258.8M
United Kingdoms$168.4M$179.4M
CA [member]$90.9M$89.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue72¢$943.7M
  • Selling, general and admin22¢$294.2M
  • Other costs2¢$23.7M
  • Interest1¢$14.7M
  • Income tax1¢$14.9M
  • Profit1¢$19.6M

Out of $1.3B in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending7¢$7.0M
  • Dividends paid14¢$14.3M
  • Share buybacks10¢$10.5M
  • Kept or used elsewhere69¢$70.0M

Out of $101.8M of cash from operations.2

Financial statements

Revenue6789102$1.3B in 2025+17% since 2018
0$500.0M$1.0B$1.5B2018: $1.1B$1.1B20182019: $1.0B$1.0B2019−7%2020: $1.0B$1.0B2020−3%2021: $1.1B$1.1B2021+12%2022: $1.2B$1.2B2022+8%2023: $1.3B$1.3B2023+7%2024: $1.3B$1.3B2024+2%2025: $1.3B$1.3B2025−2%
Net income6789102$19.6M in 2025−24% since 2018
-$20.0M0$20.0M$40.0M2018: $26.0M$26.0M20182019: $12.5M$12.5M2019−52%2020: $28.3M$28.3M2020+127%2021: $30.7M$30.7M2021+8%2022: -$18.3M-$18.3M20222023: $30.6M$30.6M20232024: $26.6M$26.6M2024−13%2025: $19.6M$19.6M2025−26%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Revenues$1.3B$1.3B$1.3B
Cost of services$943.7M$973.4M$957.8M
Selling, general, and administrative expenses$294.2M$299.7M$286.5M
Corporate interest expense, net of interest income$14.7M$16.9M$17.0M
Restructuring and other costs, net$14.0M$0$0
Total Costs and Expenses$1.3B$1.3B$1.3B
Other Loss-$9.6M-$9.9M-$8.2M
Income Before Income Taxes$34.6M$41.1M$47.4M
Provision for Income Taxes$14.9M$14.6M$17.1M
Net Income$19.7M$26.5M$30.3M
Net (Income) Loss Attributable to Noncontrolling Interests-$42.0K$67.0K$349.0K
Net Income Attributable to Shareholders of Crawford & Company$19.6M$26.6M$30.6M
Interest income$3.3M$3.4M$2.8M

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Corporate structure

CRAWFORD & CO sits at the top of its group. 10 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of CRAWFORD & CO

  • CRAWFORD & CO Peachtree Corners, Georgia
    • Broadspire Services, Inc. Subsidiary · Delaware, United States
    • Crawford & Company (Australia) Pty Limited Subsidiary · Australia
    • Crawford & Company (Canada), Inc. Subsidiary · Canada
    • Crawford & Company Adjusters (UK) Limited Subsidiary · United Kingdom
    • Crawford & Company Adjusters Limited Subsidiary · United Kingdom
    • Crawford & Company EMEA/A-P Holdings Limited Subsidiary · United Kingdom
    • Crawford & Company International, Inc. Subsidiary · Georgia, United States
    • Crawford & Company Risk Services Investments Ltd Subsidiary · United Kingdom
    • Crawford Catastrophe Services, LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CRAWFORD & CO reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$71.7M2 Dec 31, 2025$73.8M2 Dec 31, 2024−2.7%
Property and equipment, net$16.6M2 Dec 31, 2025$20.6M2 Dec 31, 2024−19.0%
Operating-lease assets (leased space)$66.3M2 Dec 31, 2025$78.8M2 Dec 31, 2024−15.8%

Real estate and locations

ItemLatestA year beforeChange
Countries it operates in702 Dec 31, 20257010 Dec 31, 20240%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$64.1M2 Dec 31, 2025$55.4M2 Dec 31, 2024+15.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$76.6M2 Dec 31, 2025$76.4M2 Dec 31, 2024+0.3%
Intangible assets, net (excluding goodwill)$66.4M2 Dec 31, 2025$74.5M2 Dec 31, 2024−11.0%
Finite-lived intangibles, gross$192.4M2 Dec 31, 2025$195.8M2 Dec 31, 2024−1.8%
Accumulated amortization$156.8M2 Dec 31, 2025$152.0M2 Dec 31, 2024+3.1%
Finite-lived intangibles, net$35.6M2 Dec 31, 2025$43.8M2 Dec 31, 2024−18.8%

Properties, in its own words

As of December 31, 2025, we leased 191 office locations under various leases with varying terms. For additional information on our significant operating leases and subleases, see Note 5 "Lease Commitments" of our accompanying consolidated financial statements included in Item 8 of this Annual Report on Form 10-K. Other office locations are occupied under various short-term rental arrangements. We generally believe that our office locations are sufficient for our operations and that, if it were necessary to obtain different or additional office locations, such locations would be available at times, and on commercially reasonable terms, as would be necessary for the conduct of our business. No assurances can be given, however, that we would be able to obtain such office locations as and when needed, or on terms we considered to be reasonable, if at all. We continue to evaluate our current and projected space requirements and may determine from time to time that certain of our leased properties are no longer necessary for our operations. There is no assurance that we will be able to terminate or sublease such excess locations or that we will not incur costs with such dispositions. Such costs are not material to our results of operations in a given period.

Item 2 of the 10-K filed Mar 2, 2026.5

Leadership

Who has led CRAWFORD & CO, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Thomas W. Crawford2006–2007
  2. Jeffrey T. Bowman2008–2015
  3. Harshavardhan Agadi V.2015–2020
  4. Rohit Verma2020–2026
  5. William B. Swain Jr.2026–now

President

  1. Thomas W. Crawford2006–2007
  2. Jeffrey T. Bowman2008–2015
  3. Harshavardhan Agadi V.2015–2020
  4. Joseph O. Blanco2020–2023
  5. Rohit Verma2024–2026
  6. William B. Swain Jr.2026–now

Chief financial officer

  1. William B. Swain Jr.2006–2026
  2. Holly B. Boudreau2026–now

Chief operating officer

  1. Jeffrey T. Bowman2006–2007
  2. Rohit Verma2017–2020
2010201520202025
Board members and other officers (62)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Broadspire Services, Inc. Delaware4
  • Crawford & Company (Australia) Pty Limited Australia4
  • Crawford & Company (Canada), Inc. Canada4
  • Crawford & Company Adjusters (UK) Limited England4
  • Crawford & Company Adjusters Limited England4
  • Crawford & Company EMEA/A-P Holdings Limited United Kingdom4
  • Crawford & Company International, Inc. Georgia4
  • Crawford & Company Risk Services Investments Ltd United Kingdom4
  • Crawford Catastrophe Services, LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 11, 20268-K Other events85
  2. Aug 3, 20268-K Results of operations; Regulation FD disclosure86
  3. May 19, 20268-K Shareholder vote87
  4. May 4, 20268-K Results of operations; Regulation FD disclosure88
  5. Mar 31, 20268-K Regulation FD disclosure89
  6. Mar 23, 20268-K Executive or director change90
  7. Mar 12, 2026New chief executive William B. Swain Jr. becomes CEO17
  8. Mar 2, 20268-K Results of operations; Regulation FD disclosure91
  9. Jan 21, 20268-K Other events92
  10. Jan 15, 20268-K Executive or director change93
  11. Dec 8, 20258-K Entered a material agreement; New debt or obligation94
  12. Nov 21, 20258-K Executive or director change95
  13. Nov 3, 20258-K Other events96
  14. May 22, 2020New chief executive Rohit Verma becomes CEO18
  15. Dec 15, 2015New chief executive Harshavardhan Agadi V. becomes CEO19
  16. Mar 4, 2008New chief executive Jeffrey T. Bowman becomes CEO20
  17. Feb 9, 2006New chief executive Thomas W. Crawford becomes CEO21

Calendar

Coming up

  1. Around Nov 2, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Aug 3, 2026Reported quarterly or annual results86
  2. May 4, 2026Reported quarterly or annual results88
  3. Mar 2, 2026Reported quarterly or annual results91
  4. Nov 3, 2025Reported quarterly or annual results97
  5. Aug 4, 2025Reported quarterly or annual results98
  6. May 5, 2025Reported quarterly or annual results99
  7. Mar 3, 2025Reported quarterly or annual results100
  8. Nov 4, 2024Reported quarterly or annual results101

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

292 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 49 major events, 164 insider forms, 23 large holders, 35 other. The latest 20:

  1. Sep 11, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  2. Sep 3, 20264/A AMENDED STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  3. Aug 25, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  4. Aug 24, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  5. Aug 20, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  6. Aug 20, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  7. Aug 18, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  8. Aug 11, 20268-K EDGAR
  9. Aug 11, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  10. Aug 6, 2026144 EDGAR
  11. Aug 3, 202610-Q EDGAR
  12. Aug 3, 20268-K EDGAR
  13. Jun 2, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  14. May 26, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  15. May 22, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  16. May 20, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  17. May 19, 20268-K EDGAR
  18. May 14, 2026144 EDGAR
  19. May 11, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  20. May 7, 2026144 EDGAR

The 292 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

53 open-market trades by officers, directors and large owners since October 2021: 27 buys and 26 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 24, 2026Bart Andrew JohnExecutive Vice PresidentSale3,305$13.36$44.2KForm 4
Aug 21, 2026Bart Andrew JohnExecutive Vice PresidentSale3,932$13.13$51.6KForm 4
Aug 20, 2026Bart Andrew JohnExecutive Vice PresidentSale975$12.96$12.6KForm 4
Aug 19, 2026Bart Andrew JohnExecutive Vice PresidentSale3,118$13.02$40.6KForm 4
Aug 18, 2026Bart Andrew JohnExecutive Vice PresidentSale47$13.30$625Form 4
Aug 17, 2026Bart Andrew JohnExecutive Vice PresidentSale3,505$13.45$47.1KForm 4
Aug 14, 2026Bart Andrew JohnExecutive Vice PresidentSale10,118$13.17$133.3KForm 4
Aug 10, 2026CRAWFORD JESSE C10% ownerSale1,000,000$12.81$12.8MForm 4
May 22, 2026Bart Andrew JohnExecutive Vice PresidentSale1,995$10.37$20.7KForm 4
May 21, 2026Bart Andrew JohnExecutive Vice PresidentSale14,005$10.32$144.5KForm 4
May 20, 2026Bart Andrew JohnExecutive Vice PresidentSale8,000$10.13$81.0KForm 4
May 19, 2026Bart Andrew JohnExecutive Vice PresidentSale8,000$10.14$81.1KForm 4
May 18, 2026Bart Andrew JohnExecutive Vice PresidentSale8,000$10.11$80.9KForm 4
May 8, 2026Stevenson Tami E.SVP-GC & Corp SecySale7,062$9.90$69.9KForm 4
May 7, 2026Stevenson Tami E.SVP-GC & Corp SecySale19,220$9.46$181.9KForm 4
Dec 11, 2025Verma Rohitformer CEO & PresidentSale125,414$11.00$1.4MForm 4
May 27, 2025Stevenson Tami E.SVP-GC & Corp SecySale4,900$10.21$50.0KForm 4
May 13, 2025Stevenson Tami E.SVP-GC & Corp SecySale4,550$10.92$49.7KForm 4
Mar 17, 2025SWAIN WILLIAM B JRCEO & PresidentSale9,659$10.85$104.8KForm 4
Mar 14, 2025Bart Andrew JohnExecutive Vice PresidentSale20,000$10.46$209.2KForm 4

All 53 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,943,110$21.9M0.0%+162,774
Truist Financial Corp1,623,485$18.3M0.0%No change
Capital Management Corp /va1,480,105$16.7M2.5%+14,070
Dimensional Fund Advisors LP932,153$10.5M0.0%+18,829
Royce & Associates LP672,607$7.6M0.1%+207,783
First Wilshire Securities Management Inc486,827$5.5M1.1%+139,232
Renaissance Technologies LLC472,324$5.3M0.0%−23,100
Seizert Capital Partners, LLC458,434$5.2M0.2%+32,631
Kennedy Capital Management LLC446,623$5.0M0.1%−8,065
Geode Capital Management, LLC370,630$4.2M0.0%+21,254
State Street Corp305,269$3.4M0.0%−844
North Star Investment Management Corp.270,000$3.0M0.2%+22,000
Pullen Investment Management, LLC254,322$2.9M1.3%−126
Vanguard Capital Management LLC187,981$2.1M0.0%+887
Wells Fargo & Company/mn185,147$2.1M0.0%−240,587
O'shaughnessy Asset Management, LLC150,872$1.7M0.0%+20,121
American Century Companies Inc147,920$1.7M0.0%+399
Northern Trust Corp128,099$1.4M0.0%+6,362
Barclays PLC127,540$1.4M0.0%−1,160
Envestnet Asset Management Inc126,208$1.4M0.0%+37,528
Russell Investments Group, Ltd.120,708$1.4M0.0%+83,698
Shayne & Jacobs, LLC119,218$1.3M0.4%−1,800
Goldman Sachs Group Inc116,829$1.3M0.0%+2,605
Vanguard Portfolio Management LLC112,513$1.3M0.0%−13,146
Commonwealth Equity Services, LLC104,536$1.2M0.0%+37

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How CRAWFORD & CO is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCRAWFORD & CO1
  • CIK0000025475
  • Employer ID (EIN)58-05065545
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inGeorgia5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6411 Insurance Agents, Brokers & Service1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address5335 Triangle Parkway, Peachtree Corners, GA 300921
  • Phone40430010001
  • Shares outstanding29,688,043 Common Class A shares; 18,985,060 Common Class B shares as of Feb 26, 20265
  • Public float$239.8B as of Jun 30, 20255
  • AuditorKPMG LLP, Atlanta, Georgia PCAOB ID 185; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceFeb 8, 19951
  • Filings1,763 in all: 4 (991), 8-K (277), 10-Q (95), SC 13G/A (72), 3 (67), 4/A (50), DEF 14A (32), 10-K (26)1
    All 33 form types

    SC 13G (26), S-8 (22), S-8 POS (19), ARS (14), SC 13D/A (12), UPLOAD (8), 5 (7), CORRESP (7), 10-K405 (5), SC 13D (5), 144 (4), DEFA14A (4), SCHEDULE 13G (3), SCHEDULE 13G/A (3), 10-K/A (2), 8-K/A (2), EFFECT (2), 10-K405/A (1), 10-Q/A (1), 424B3 (1), NT 10-Q (1), POS AM (1), PRE 14A (1), S-3 (1), S-3/A (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 3, 2026
    Proxy statement (DEF 14A) Apr 9, 2026
    Latest 8-K (8-K) Aug 11, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock — $1.00 Par ValueCRD-ANew York Stock Exchange
Class B Common Stock — $1.00 Par ValueCRD-BNew York Stock Exchange

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks CRAWFORD & CO names in Item 1A of its 10-K filed Mar 2, 2026: 24 risks under these headings, as written.5

  • We depend on claim volumes for a significant portion of our revenues. Claim volumes are not subject to accurate forecasting, and a decline in claim volumes may materially adversely affect our financial condition and results of operations.
  • In recent periods, we have derived a material amount of our revenues from a limited number of clients. If we are not able to retain these clients or replace these revenues, our financial condition and results of operations could be materially adversely affected.
  • We manage a large amount of highly sensitive and confidential consumer information including personal data, medical/health information and financial information. Unauthorized access to, alteration or disclosure of this data, whether as a result of criminal conduct, advances in computer hacking or otherwise, could result in a material loss of business, substantial legal liability or significant harm to our reputation.
  • We are subject to increased frequency and complexity of cybersecurity attacks. Our failure to effectively identify such attacks or quickly recover from such attacks could materially adversely affect our business, results of operations, and financial condition.
  • Artificial intelligence and machine learning (together, “AI”) may not perform as intended in our solutions or operations and expose us to significant legal, regulatory, contractual and operational risks.
  • Increasing regulatory focus on privacy issues and expanding laws could impact our business models and expose us to increased liability.
  • We may not be able to develop or acquire necessary IT resources to support and grow our business, and disruptive technologies could impact the volume and pricing of our products. Our failure to address these risks could materially adversely affect our business, results of operations, and financial condition.
  • If we do not protect our proprietary information and technology resources and prevent third parties from making unauthorized use of our proprietary information, intellectual property, and technology, our financial results could be harmed.
  • We currently operate on multiple proprietary and commercial software platforms to support our service offerings and internal corporate systems. The failure or obsolescence of any of these platforms, if not remediated or replaced, could materially adversely affect our business, results of operations, and financial condition.
  • A significant portion of our operations are international. These international operations subject us to political, legal, operational, exchange rate and other risks not generally present in U.S. operations, which could materially negatively affect those operations or our business.
  • We currently, and from time to time in the future may, outsource a portion of our internal business functions to third-party providers. Outsourcing these functions has significant risks, and our failure to manage these risks successfully could materially and adversely affect our business, results of operations, and financial condition.
  • Natural or man-made disasters or other acts of violence may affect the markets in which we operate, our clients and our service delivery.
The other 12 risks
  • We are, and may become, party to lawsuits or other claims or investigations that could adversely impact our business.
  • The costs of compliance with sustainability or other environmental, social responsibility or governance laws, regulations, or policies, including investor and client-driven policies and standards, could adversely affect our business.
  • If internal control deficiencies or material weaknesses were to arise, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in us and materially and adversely affect our business and financial results.
  • Our U.S. qualified defined benefit pension plan (the "U.S. Qualified Plan") is underfunded. Future funding requirements, including those imposed by any further regulatory changes, could restrict cash available for our operating, financing, and investing requirements.
  • We have debt covenants in our credit facility that require us to maintain compliance with certain financial ratios and other requirements. If we are not able to maintain compliance with these requirements, all of our outstanding debt could become immediately due and payable.
  • In prior periods we have incurred impairment charges that reduced the carrying value of our intangible assets and goodwill; in the future we may be required to incur additional impairment charges on a portion of or all of the carrying value of our intangible assets and goodwill, which may adversely affect our financial condition and results of operations.
  • Control by a principal shareholder could adversely affect the Company and our other shareholders.
  • We operate in highly competitive markets and face intense competition from both established entities and new entrants into those markets. Potential consolidation in our industry can also create stronger competition. Our failure to compete effectively may adversely affect us.
  • We may not be able to recruit, train, and retain qualified personnel, including retaining enough qualified and experienced on-call claims adjusters, to respond to catastrophic events that may, singularly or in combination, significantly increase our clients' needs for claims adjusters.
  • Our business would be harmed if we are unable to attract and retain skilled employees, or if our labor costs increase in response to competition for qualified employees.
  • We face challenges caused by our aging workforce and we may not be able to recruit, train, and retain adequate replacements for our qualified and skilled employees.
  • We are subject to inflation risks which could increase our wages, benefits, and other costs which may result in decreased profitability.

Legal proceedings

In the normal course of the claims administration services business, we are from time to time named as a defendant in suits by insureds or claimants contesting decisions by us or our clients with respect to the settlement or administration of claims. Additionally, our clients have, in the past, brought and may, in the future, bring claims for indemnification on the basis of alleged actions on the part of the Company, our agents or our employees in rendering service to clients. The majority of these claims are of the type covered by insurance maintained by us; however, we are responsible for the deductibles and self-insured retentions under our various insurance coverages. In our opinion, adequate provisions have been provided for such known risks. No assurances can be provided, however, that the result of any such action, claim or proceeding, now known or occurring in the future, will not result in a material adverse effect on our business, financial condition or results of operations.

We are also subject to numerous federal, state, and foreign labor, employment, worker health and safety, antitrust and competition, environmental and consumer protection, import/export, anti-corruption, and other laws. From time to time, we face claims and investigations by employees, former employees, and governmental entities under such laws or employment contracts with such employees or former employees.

The opening of Item 3, Legal Proceedings.5

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
  86. 86
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  92. 92
    SEC EDGAROther events
  93. 93
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  96. 96
    SEC EDGAROther events
  97. 97
  98. 98
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  100. 100
  101. 101
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  104. 104
  105. 105
  106. 106
  107. 107
  108. 108