Effective – 28 Aug 1993 287.900. Citation of law — definitions. — 1. Sections 287.900 to 287.920 shall be known as the “Missouri Employers Mutual Insurance Company Act”. 2. As used in sections 287.900 to 287.920, the following words mean: (1) “Administrator”, the chief executive officer of the Missouri employers mutual insurance company; (2) “Board”, […]
Effective – 28 Aug 1993 287.902. Missouri employers mutual insurance company, created, powers, purpose. — The “Missouri Employers Mutual Insurance Company” is created as an independent public corporation for the purpose of insuring Missouri employers against liability for workers’ compensation, occupational disease and employers’ liability coverage. The company shall be organized and operated as a […]
Effective – 28 Aug 1993 287.905. Board, created — members, appointment, qualifications, terms — chairman. — 1. There is created a board of directors for the company. The board shall be appointed by January 1, 1994, and shall consist of five members appointed or selected as provided in this section. The governor shall appoint the […]
Effective – 28 Aug 1993 287.907. Administrator, hiring of, qualifications, compensation — powers of board, generally. — 1. By March 1, 1994, the board shall hire an administrator who shall serve at the pleasure of the board and the company shall be fully prepared to be operational by March 1, 1995, and assume its responsibilities […]
Effective – 28 Aug 1993 287.909. Administrator, duties of, bond required — immunity from liability, board and employees. — 1. The administrator of the company shall act as the company’s chief executive officer. The administrator shall be in charge of the day-to-day operations and management of the company. 2. Before entering the duties of office, […]
Effective – 28 Aug 1993 287.910. Rates, board to determine, how. — The board shall have full power and authority to establish rates to be charged by the company for insurance. The board shall contract for the services of or hire an independent actuary, a member in good standing with the American Academy of Actuaries, […]
Effective – 28 Aug 1993 287.912. Investment policy, board to determine — administrator to make investments, how. — The board shall formulate and adopt an investment policy and supervise the investment activities of the company. The administrator may invest and reinvest the surplus or reserves of the company subject to the limitations imposed on domestic […]
Effective – 28 Aug 1993 287.915. Agents may sell policies, commissions. — Any insurance agent or broker licensed to sell workers’ compensation insurance in this state shall be authorized to sell insurance policies for the company in compliance with the bylaws adopted by the company. The board shall establish a schedule of commissions to pay […]
Effective – 28 Aug 1993 287.917. Workplace safety program, administrator to formulate — safety plan, contents — rates may be reduced, when. — 1. The administrator shall formulate, implement and monitor a workplace safety program for all policyholders. 2. The company shall have representatives whose sole purpose is to develop, with policyholders, a written workplace […]
Effective – 28 Aug 1993 287.919. Company not to receive state appropriation, exception — revenue bonds, authorization, terms, execution, procedures. — 1. The Missouri employers mutual insurance company shall not receive any state appropriation, directly or indirectly, except as provided in section 287.690. 2. In order to provide funds for the creation, continued development and […]
Effective – 28 Aug 1993 287.920. Audit required, when, procedure — report, contents, governor and general assembly to receive — administrator to formulate budget — department, duties — subscribers to be provided policy, when. — 1. The board shall cause an annual audit of the books of accounts, funds and securities of the company to […]
