Missouri Employers Mutual
Missouri Employers Mutual Insurance is a workers' compensation provider in Missouri. MEM provides coverage in nearly all 600 National Council on Compensation Insurance (NCCI) classes. MEM is the largest Workers Compensation Insurance company in Missouri with 22.77% of the market share in 2021.[1]
| Type | Mutual |
|---|---|
| Industry | Insurance |
| Founded | March 1, 1995 |
| Headquarters | Columbia, Missouri, USA |
Key people | James (Jim) C. Owen, President & CEO |
Number of employees | 300 |
| Website | www.mem-ins.com |
History
The Missouri Employers Mutual Insurance Company was created in 1993 "as an independent public corporation for the purpose of insuring Missouri employers against liability for workers' compensation, occupational disease and employers' liability coverage."[2]
In 2012 a bill was filed over MEM's tax exempt status as a state sponsored entity.[3]
"In 2021, a bill to privatize the company was introduced but did not receive a hearing."[3]
Headquartered in Columbia, Missouri, MEM has offices in Kansas City, Missouri, Springfield, Missouri, and St. Louis, Missouri. MEM has more than 17,000 insureds, and holds an A. M. Best rating of A− (excellent).[4]
In the year 2021, the company disbursed dividends amounting to $7 million to its shareholders. Additionally, it reported a net shareholder equity of $273.6 million during the same period.[5]
References
- "Market Share Report | Missouri Department of Commerce & Insurance". insurance.mo.gov. Retrieved 2023-08-01.
- "287.902". revisor.mo.gov. Retrieved 2023-08-01.
- Keller, Rudi (2023-02-08). "Missouri's largest workers comp insurer seeks legislative approval to become private company". Missouri Independent. Retrieved 2023-08-01.
- "Financial Strength". MEM. Retrieved 24 June 2016.
- "ANNUAL STATEMENT OF THE Missouri Employers Mutual Insurance Company (2021)" (PDF). Annual Statement.
External links
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