Missouri lawmakers have once again proposed a bill requiring Missouri Employers Mutual Insurance Co. transfers to a private mutual insurance company no later than January 1, 2023.
H.B. 761, introduced on Monday, would require the board of Missouri Employers Mutual to outline the steps they will take to become a private mutual insurance company in early 2022 and would mandate that the company act as all mutual non-life insurers licensed to write insurance. In
in 2020, lawmakers introduced a similar bill in the Missouri House of Representatives, but the bill never came out of committee.
At the time, a spokeswoman for Columbia-based Missouri Employers Mutual, which has a federal tax exemption, said the move to a private mutual insurance company "could adversely affect Missouri's work environment." Michigan State Fund was developed into Accident Fund Co., now part of AF Group, West Virginia & # 39 ;s state fund is now Charleston-based BrickStreet Mutual Insurance Co. and Maryland State Fund have been transformed into Baltimore-based Chesapeake Employers Insurance Co.