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…
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Missouri lawmakers investigate state’s employee insurance program over surplus funds
The Missouri Legislature continues to investigate Missouri Employers Mutual Insurance Co., a state-backed insurance company providing coverage to public employees. The Legislature has recovered more than $163 million in surplus money from the insurance company, which was seized after regulators found that the company was, supposedly, withholding benefits. The investigation stems from events that unfolded earlier in the year, in which state regulators found that two of the company’s five board members were committed theft and fraud. Now the insurance company faces the scrutiny of state legislators, who are investigating…
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