Missouri Workers Comp news…
Agents have been warning lawmakers in Missouri to use caution as they consider making changes to the workers’ compensation firm created by the state, and which has received criticism from the state auditor for having taken advantage of a federal tax exemption as it spent large amounts on its own perks.
A Senate committee has already endorsed the legislation which would establish a special panel that will examine whether or not the Missouri Employers Mutual Insurance Co. law from 1993 needs to be altered. This research is a gradual and slow moving approach to studying the situation which has been welcomed by the CEO of the company, as an better way to handle things than a bill that would require the firm to be reestablished as a new insurer that is entirely private.
Monday, April 2, testimony was also heard by a House committee to decide whether or not the company requires changes. A private insurers’ association stated that Missouri Employers Mutual had been benefiting unfairly from the status it held for federal tax exemption. Equally, though, some insurance agents in the state also said that the firm – which is headquartered in Columbia – had helped to make sure that there was stability in the small business workers’ compensation marketplace in the 1990s, and is still offering reasonable rates and good customer service.
According to the Winter-Dent & Co. president, Louis Landwehr, “Missouri Employers Mutual was good for the marketplace at a time when the marketplace really needed it.” He went on to say that the firm maintains financial strength and is still offering “great” service to those it serves.
