JEFFERSON CITY, Mo. (AP) — The CEO of Missouri Employers Mutual Insurance Co. endorsed a proposal Tuesday for lawmakers to study whether any changes are needed to the state-created company after an audit recently criticized it for excessive expenses.
But CEO Jim Owen urged lawmakers not to adopt a more aggressive proposal, which would force the company to pay $127 million to the state and spin off a new private insurance firm by the end of the year.
The Senate Small Business, Insurance and Industry Committee began hearing testimony Tuesday on a trio of bills reacting to problems and concerns with the Columbia-based workers' compensation insurer. The interest in the proposals exceeded the committee's time, forcing the hearing to be continued until lawmakers return from their annual spring break the week of March 19.
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