KEMI Dividend Mandate Clears Senate Committee

State lawmakers' attempt to force Kentucky Employers' Mutual Insurance Co. (KEMI) to return about $62 million of its $154 million surplus to policyholders cleared a Senate panel Wednesday, the Lexington Herald-Leader reported.Senate Bill 214, filed by Senate Majority Leader Robert Stivers, R-Manchester, would require KEMI to return 40% of its surplus by December to employers that held policies for at least six months with the state-run private mutual carrier between 1997 and 2009.The bill would require future annual dividends when possible.Launched in 1995, the carrier has never issued...