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Index/Insurance Banter with Burand & Borup
Insurance Banter with Burand & Borup artwork

From $1M a Day in Losses to Industry Turnaround: The BrickStreet Story

Insurance Banter with Burand & Borup · 2026-04-04 · 20 min

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Episode notes

In this episode of Insurance Banter , Chris and Paul sit down with Greg Burton, former CEO of BrickStreet Insurance, to unpack one of the most remarkable turnaround stories in the insurance industry. Greg shares how he stepped into a failing workers’ compensation system in West Virginia - losing $1 million per day with billions in unfunded liabilities - and helped lead its transformation into a successful private insurance company. Key Topics Covered: The Breaking Point: What a collapsing state-run system looks like from the inside Leadership in Crisis: How to step into chaos and create clarity Cultural Transformation: Shifting mindset from “claimant-first” to “customer-first” Privatization Decision: Why moving from government to private market was essential Building From Scratch: Launching a fully operational insurance company in just 9 months People Over Process: Empowering existing employees and bringing in the right talent Lasting Impact: How reforms reduced workers’ comp rates by over 80% and reshaped a state’s economy

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