Monday, March 15, 2010
Beshear Urges Insurance Group To Share Surplus
KENTUCKY....
The Kentucky Employers’ Mutual Insurance Company, which takes in roughly $125 million a year in premiums, recently reported to the Department of Insurance that it has a $154 million surplus along with a $357 million cushion required to pay current and future claims. Governor Steve Beshear sent a letter last week to the worker’s compensation self-insurance group urging it to disperse some of its surplus to struggling small businesses. Then Senate Majority Floor Leader Robert Stivers (R-Manchester) filed legislation that would force KEMI to do the same.
The Kentucky Employers’ Mutual Insurance Company, which takes in roughly $125 million a year in premiums, recently reported to the Department of Insurance that it has a $154 million surplus along with a $357 million cushion required to pay current and future claims. Governor Steve Beshear sent a letter last week to the worker’s compensation self-insurance group urging it to disperse some of its surplus to struggling small businesses. Then Senate Majority Floor Leader Robert Stivers (R-Manchester) filed legislation that would force KEMI to do the same.
# posted by Homer Owens @ 5:14 PM 
