advertisement

Missouri Senate backs study of Columbia-based, state-created insurer

Wednesday, April 4, 2012 | 4:10 p.m. CDT

JEFFERSON CITY — The Missouri Senate has endorsed the establishment of a special committee to study whether to change a state-created workers' compensation insurer.

Senators gave initial approval Wednesday to a bill creating a five-member Senate panel to analyze whether Missouri Employers Mutual Insurance Co. should be sold, privatized or restructured.

The Columbia-based company was created under a 1993 law at a time when many small businesses were having trouble getting reasonable rates on workers' compensation coverage. The company has flourished to the point that it now has the largest market share among Missouri's workers' compensation insurers.

A recent state audit noted that the company benefits from a federal tax exemption and has built up a surplus of more than $160 million. Some lawmakers question whether that tax exemption should continue.


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements