PREFERRED EMPLOYERS HOLDINGS INC
8-K, 1999-08-30
INSURANCE AGENTS, BROKERS & SERVICE
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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                       ----------------------------------

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): August 10, 1999

                           Commission File No. 1-12677

- --------------------------------------------------------------------------------
                       Preferred Employers Holdings, Inc.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                                        65-0698779
- -------------------------------                       -------------------
(State or other jurisdiction of                        (I.R.S. Employer
 incorporation or organization)                       Identification No.)

                 10800 Biscayne Boulevard, Miami, Florida 33161
- --------------------------------------------------------------------------------
                       (Address of principal executive offices)

       Registrant's telephone number, including area code: (305) 893-4040

                                 Not Applicable
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)

<PAGE>

Item 5. Other Events.

            The Company hereby incorporates by reference herein the matters
announced in the Company's press release dated August 10, 1999 (such press
release is filed as Exhibit 99.1 hereto).

Item 7. Financial Statements and Exhibits.

      (c) Exhibits. The following document is being filed herewith by the
Company as our exhibit to this Current Report on Form 8-K:

            99.1 Press release of the Company dated August 10, 1999.

<PAGE>

                                   SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: August 30, 1999

                                  PREFERRED EMPLOYERS HOLDINGS, INC.


                                  By: /s/ William R. Dresback
                                      ------------------------------------------
                                      William R. Dresback
                                      Senior Vice President and
                                      Chief Financial Officer
                                      (Principal Financial and
                                      Accounting Officer)

<PAGE>

Exhibit No. Exhibits                                                 Page No.
                                                                     --------

99.1        Press release of the Company dated August 10, 1999.



                                                                    EXHIBIT 99.1

Preferred Employers Holdings, Inc. Announces Resignation of Mark Olson

MIAMI, Aug. 10 /PRNewswire/ -- Preferred Employers Holdings, Inc. (Nasdaq: PEGI
- - news) announced today the resignation of Mark Olson, the company's executive
vice president and president and chief executive officer of Preferred Employers
Group, Inc.

Mel Harris, Preferred Employers' chairman and CEO, stated, "We are sorry to lose
Mr. Olson's services. We wish him well in his future endeavors."

Founded in 1988, Preferred Employers Holdings furnishes temporary professional
medical personnel to client hospitals, provides businesses with workers'
compensation and other business insurance products as well as risk management
and cost containment services and reinsures certain workers' compensation and
employers' liability insurance policies. The company's strategy calls for
geographical growth and expansion of operations in the employee staffing
business through select acquisitions where the company's expertise in workers'
compensation, healthcare benefits and database management provide it with a
competitive advantage.

For more information contact William Dresback at (800) 433-5755 or Frank Hawkins
or Julie Marshall, Hawk Associates, Inc. (305) 852-2383. E-mail:
[email protected].



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