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State-founded insurer names board chair as CEO

State-founded insurer names board chair as CEO

December 21st, 2011 in News

COLUMBIA, Mo. (AP) - A quasi-public Missouri insurance company whose leadership has come under question has named a former board chairman as president and chief executive officer.

Missouri Employers Mutual Insurance Co. announced the appointment of Jim Owen on Wednesday. Owen has served as interim president and CEO since the previous chief executive, former Gov. Roger Wilson, was placed on administrative leave in May and later fired without explanation.

Missouri Employers Mutual was created by the state in 1993 to help businesses get workers' compensation coverage at reasonable rates.

Wilson's departure and the criminal indictments of two former board members spurred a review by State Auditor Tom Schweich (shwyk) that remains ongoing.

A company press release says a recent internal review by independent auditors "reinforced that the company is in excellent financial health."