Regional workers' compensation insurance provider MEM announced that it completed a loss portfolio transfer to St. Louis-based Safety National as it moves forward as a private mutual carrier.
"The transaction reinsures a $350 million portfolio of workers’ compensation liabilities and covers accident years 2023 and prior," the carrier said in a statement. "The transfer is part of MEM’s transition from a state workers’ compensation insurance fund to a private mutual insurance company."
While the liability is transferred, MEM's staff will continue t...
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