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SFM Historical Highlights


  • In 1983, SFM began as a member-owned mutual company in Minnesota. SFM issued its first 12 insurance policies, effective April 1. Many are still policyholders today.
  • By the end of the first year, SFM issued 537 policies for $4.1 million in premium. By the end of the fifth year, business grew to 5,064 policyholders and $49.7 million premium in force.
  • SFM became available to all independent insurance agents in Minnesota and was endorsed by the Minnesota Independent Insurance Agents and Minnesota Professional Insurance Agents associations.
  • SFM pioneered innovations in medical case management, bill review, return to work and in-house legal firm.
  • A subsidiary company, CompCost Inc., was formed to provide claims administration to self-insured employers.


  • SFM became Minnesota's largest workers' compensation insurer in 1991, serving nearly 5,500 employers.
  • SFM became the first workers' compensation insurer in Minnesota to contract with a certified medical network organization and was recognized by a Princeton University research study on the benefits of return to work.
  • A subsidiary company, CompRehab Inc. was established, specializing in returning injured employees to work and providing access to nurses, occupational therapists and other rehabilitation professionals.


  • SFM partnered with national insurance carriers to serve the growing business needs of Minnesota employers with operations in other states.
  • CompOnline® was launched in 1996 to provide employers with online access to claims information. CompOnline is believed to be the nation's first interactive workers' compensation website.
  • SFM received the Minnesota Independent Insurance Agents Association's "Award of Excellence."
  • SFM successfully argued, with co-parties, the Minnesota Supreme Court case upholding the merits of the state medical treatment standards.
  • SFM ranked first overall in a 1998 Minnesota Department of Labor and Industry report for prompt action on claims among insurers with more than 1,000 lost-time claims. The state has issued the report annually, and SFM has consistently ranked number one.


  • SFM began offering coverage and services directly to employers based in Wisconsin, through Wisconsin independent insurance agents.
  • SFM deployed nurses to work with injured employees facing long-term treatment and launched a Pharmacy Benefits Management Program to reduce prescription costs.
  • Legislation was passed allowing all directors on SFM's board to be elected by policyholders.
  • SFM successfully argued before the Minnesota Supreme Court a significant legal case affirming that permanent total disability benefits may be offset by government disability benefits.
  • A multilingual line was created to accommodate injured employees who don't speak English.
  • Instant Underwriting was launched for agents, offering easy online access to a simplified insurance application system.


  • State Fund Mutual was renamed SFM-The Work Comp Experts. The company was reorganized into business units specializing in serving the needs of small, medium and large employers.
  • SFM began insuring the multiple-state operations of Minnesota, Wisconsin and South Dakota employers in 16 states. A team of claims, legal, loss prevention and underwriting staff was established in Wisconsin to serve the growing needs of Wisconsin employers.
  • An additional line of coverage, Employment Practices Liability (EPL), was offered as an endorsement to the workers' comp policy.
  • A Preferred Provider Organization (PPO) was launched in partnership with CorVel.
  • SFM Application Manager (SAM), an online insurance application system, was launched for agents.
  • My Payroll, an online audit system was launched for small businesses.
  • ePay, an online premium payment system was launched for policyholders.
  • SFM Foundation was established to provide college scholarships to students of parents killed or seriously injured on the job.


  • SFM remains the leading workers' compensation insurer in the Midwest, serving more than 15,000 employers of all sizes and types, including insured and self-insured employers.
  • SFM launched a redesigned website and updated version of the Resource Catalog in 2010.
  • In 2010, coverage and services were extended directly to employers in Iowa and Nebraska through independent insurance agents in these states.
  • SFM, selected in 2009 as a servicing carrier for the Minnesota Assigned Risk Plan, began in 2010 providing policy, claims and other services for employers insured through the plan.
  • Through 2011, SFM Foundation awarded higher education scholarships to 30 students of parents killed or seriously injured on the job.
  • CompOnline® Risk Management System was upgraded in 2011 to further enhance employers' online access to claims information. Major upgrades included the ability to customize loss analysis reports, a new dashboard overview of current claims activity, and the ability to sign up for email alerts on changes in claims status.
  • SFM brought medical bill processing back in house, ending its contract with a third-party provider.


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