Missouri Employers Mutual
| Company type | Autonomous public corporation |
|---|---|
| Industry | Insurance |
| Founded | 1993 |
| Headquarters | Columbia , United States |
Area served | Missouri |
| Products | Workers' compensation, occupational disease, and employers' liability insurance |
| Website | www |
Missouri Employers Mutual Insurance functions as a provider of workers' compensation coverage within Missouri, encompassing nearly all 600 classes designated by the National Council on Compensation Insurance (NCCI). As Missouri's leading workers' compensation insurer, MEM commanded a 22.77% share of the market in 2021.
History
MEM was founded in 1993 as an autonomous public corporation, offering Missouri employers protection through workers' compensation, occupational disease, and employers' liability insurance.
In 2012, legislation questioned MEM’s exemption from taxes due to its status as a state-sponsored organization. A privatization bill surfaced in 2021 but failed to progress.
The company is based in Columbia, Missouri, with additional offices located in Kansas City, Springfield, and St. Louis. MEM provides services to more than 17,000 policyholders and holds an A− (excellent) rating from A. M. Best. In 2021, it issued $7 million in dividends and reported net shareholder equity amounting to $273.6 million.
Money-laundering scheme
Roger B. Wilson, who previously served as Missouri’s lieutenant governor and briefly as governor, acted as MEM’s CEO before his dismissal under ambiguous conditions. In April 2012, Wilson faced indictment for the misappropriation of insurance funds connected to unauthorized political contributions made through MEM’s federally tax-exempt status under 501(c)(27).
Wilson, together with attorney Edward J. Griesedieck III, orchestrated two illicit donations totaling $8,000 to the Missouri Democratic Party by having Griesedieck’s law firm submit fraudulent legal fee invoices to MEM. Wilson authorized these bills despite awareness that some charges were fabricated. Following an internal investigation in 2010, Wilson personally repaid one of the donations but left the other unpaid. He entered a guilty plea to money laundering offenses in 2014.