At Missouri Employers Mutual, we’re celebrating 25 years of creating safe, healthy and injury-free workplaces. We’ve celebrated a number of milestones along the way. Use the slider to explore our timeline or read on to learn how our commitment to keeping Missourians safe has strengthened through the years.
Founded on safety
MEM was created in 1993 by the Missouri legislature to address a need in the state’s workers compensation market. Insurance prices were high, and some businesses struggled to find an affordable work comp policy. In particular, businesses with a history of losses needed a work comp partner who would help them improve safety, reduce losses and lower their premium over time – not just charge unsustainably high prices.
In 1995, we opened our doors with a $5 million loan from the state of Missouri. We quickly became the market leader and have held majority market share since. Over the next few years, we opened offices in St. Louis, Kansas City and Springfield to better serve our policyholders across the state. In 1999, four years after writing our first policy, we repaid our $5 million startup loan.
A rising tide
In 2004, just five years after repaying our startup loan, we earned an A- (Excellent) Rating from A.M. Best, demonstrating our financial strength and solidifying our position as market leader.
The next few years were all about partnership. We named our first Signature Partner agencies in 2007, recognizing them for their commitment to excellent client service and workplace safety. In 2012, we launched policyholder dividends, which rewarded policyholders with a check for their safety records.
Growth and innovation
Through the years, we realized there was a segment of Missouri businesses that were missing out on the benefits of working with a safety-focused work comp provider: those with multistate exposures. In 2015, we partnered with Previsor Insurance, a wholly-owned and independently-managed subsidiary, to expand our coverage to Missouri businesses with Kansas exposures. This was an important step in our mission to bring more Missourians home safe from work every day.
A year later, we launched our SafetySMARTS portfolio of innovative services. In 2017, we paid our first safety dividends, which introduced a closer tie between policyholders’ safety efforts and their dividend checks. We awarded our first safety grants in 2018, providing matching funds to selected policyholders for the purchase of safety equipment. Additional SafetySMARTS programs, such as post offer employment testing and telehealth services, offer value beyond a policy for our customers.
Finally, Previsor expanded coverage into five new states last year – Arkansas, Illinois, Iowa, Nebraska and Tennessee – bringing safety-focused multistate coverage to the Midwest region.
Today, we continue to provide unmatched service and resources for the businesses we serve, giving them the confidence to move forward with us for the next 25 years and beyond.