Shawn Miner, SFM’s VP of Regional Business, Iowa/Nebraska/Kansas Accounts, was appointed to the governing board of the Kansas Workers’ Compensation Insurance Plan (KWCIP) earlier this year.

The organization, facilitated by the Kansas Department of Insurance, primarily focuses on the residual workers’ compensation market and the administration of the state’s assigned risk plan. Miner’s three-year term began at the start of 2025.

“SFM started writing business in Kansas in the fall of 2020 and we have steadily been increasing our presence in the state,” Miner said. “Being on the KWCIP is a great opportunity to get involved on the industry side, as well as continuing to build relationships with our agent partners and policyholders.”

The group’s board members include insurance carriers, agents, business leaders and others. It consults and collaborates with the Kansas Insurance Department and the National Council on Compensation Insurance.

“I’m excited to get involved with KWCIP and learn more about the organization and its role in work comp in Kansas,” Miner said.

At SFM, Miner oversees business in Kansas, Iowa, Nebraska, Indiana and Tennessee. He lives in Iowa with his wife and three children.

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Even under growing pressure from package carriers, SFM had another successful year in 2024.

The achievements at SFM are a direct result of our relationships with our agent partners — through both policyholder retention and generating new business.

We continue to strive to be the leader in workers’ compensation coverage, providing unmatched service and working to keep employees safe while ensuring clients see reductions in their experience modification factor.

Our commitment to service excellence is the foundation for the success we share, and I believe the results will bear that out every time.

Highlights from 2024 include:

• SFM’s policyholder retention level of 96% further demonstrates our industry-leading customer loyalty
• Growth in our newer markets continues, particularly Indiana and Tennessee
• Policyholder surplus growth larger than premium growth
• We continue to make enhancements to our online portals, the SFM Agency Manager (SAM) and MyPayroll, making our processes smoother and more user friendly
• We upgraded the SFM Resource Catalog, released new promotional videos and again provided our policyholders with valuable safety webinars

As we move forward in the new year, we want to build on the strength of our partnerships, write more business with our agent partners and keep the momentum we have built over the years. When you choose to keep your accounts with SFM, we recognize that you are resisting the pressure from the multi-line carriers demanding the consolidation of the work comp with their collateral lines.

SFM realizes that strong financial results are important, but we know our unwavering commitment to customer service and doing right by all our stakeholders is paramount.

Thank you for your continued support and partnership! We look forward to sharing success with you and your clients for many years to come.

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SFM continues to see growth beyond its home state of Minnesota, where it remains first in terms of workers’ compensation market share.

“Our relationships with agency partners outside of Minnesota are gaining more momentum with each passing year,” said Mike Happe, Senior Vice President and Chief Marketing Officer. “SFM’s reputation as the work comp experts has helped us develop and retain business in our newer markets.”

Below are SFM’s top five states and their carrier rank based on written premium (the rankings for 2024 will be released in the spring of 2025).

• Minnesota – 1
• Wisconsin – 15
• Iowa – 7
• Nebraska – 9
• South Dakota – 4

Meanwhile, SFM’s growth in newer markets saw significant increases in Kansas, Indiana and Tennessee, and the company is putting additional resources into those states. Also of note, Cody Allen, SFM Territory Manager, has been elected to the governing board at the Indiana Compensation Rating Bureau.

Highlights from 2024 include:

• 96% policyholder retention rate
• Added 6,800 new policyholders, resulting in new business premium of over $26 million
• Total written premium for the year: $255 million (excluding the Wisconsin Assigned Risk Plan)
• Another year of an A- rating from AM Best
• SFM Foundation up to $4.1 million in total scholarships awarded

“Despite seeing increasing claim severity, we have seen measured, steady growth, and SFM will continue that strategy in the years to come,” said Steve Sandilla, Senior VP and Chief Business Officer. “We continue to make the best outcomes for clients our primary focus and we are thankful for the trust of our agents and policyholders year after year.”

Other SFM items of note

SFM partnered with more than 3,000 independent agents in 2024 and closed out the year with its number of businesses served over 50,000. That adds up to more than 500,000 covered employees.

The company also retained the service contract for the Minnesota Workers’ Compensation Assigned Risk Plan (ARP), which renewed for another five years, and SFM’s portion of the Wisconsin program is increasing next year from 20% to 25%. Company leaders are working on growing that business in other core states for the future.

The Minnesota ARP, served by SFM’s Superior Point, handled 13,500 policyholders and $20 million in premium for 2024. In Wisconsin, SFM handled about 4,000 policyholders and $12.5 million in premium for 2024.

Also, SFM Risk Solutions provided third-party administration service to 32 self-insured clients in 2024, including four groups with about 2,000 individual members.

Lastly, SFM added Dr. Andrew Wilkins to its staff as Chief Medical Director on the Medical Services team in 2024.

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SFM CEO Terry Miller has been named the next president of the American Association of State Compensation Insurance Funds (AASCIF).

“When it comes to sharing new and old ideas on how to be a better workers’ compensation insurance carrier, I have not come across an organization close to as good as AASCIF,” Miller said.

He begins his two-year term as president starting in January 2025. AASCIF is an association of workers’ compensation insurance companies from 26 different states, plus eight work comp boards in Canada.

Miller has long been involved with AASCIF, attending his first meeting with the group in Montana in 1985. He has served the organization in a number of roles over the years, including:

• Being a member of the group’s Audit and Data committee in the 1980s
• Joining the Finance and Investment Committee in the 1990s, chairing that group in 2002
• Previously serving as the AASCIF treasurer
• Being an active member of the Executive Committee

“Terry exemplifies AASCIF’s values of service and sharing. I first met Terry at the AASCIF annual conference in Oklahoma City back in 2017. I chatted with him and learned that he was preparing to host the 2018 conference in Minneapolis. He shared his belief that AASCIF is the best organization going when it comes to sharing professional experiences and is an important part of the overall apprenticeship type model that many of its members utilize,” said Vern Steiner , President & CEO of the State Compensation Insurance Fund. “Through my term as president, Terry’s contributions have driven home his commitment to AASCIF, and I am confident that I could not be handing the presidency over to anyone who cares more about our organization.”

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It’s that time of year again…

With winter in full swing — and the upcoming thawing and refreezing cycles in the months ahead — workplace safety should be paramount.

Be sure to remind your policyholders that just because spring is on the horizon, it doesn’t mean they can be any less vigilant about workplace safety.

Slips, trips and falls – the bottom line

Slips, trips and falls are a leading cause of workplace injury. They can be severe, leading to fractures, head trauma or worse.

The costs of covering these claims gets expensive. Not only can it negatively influence the employer’s experience modification factor, but it also impacts agency and carrier results. SFM estimates the average winter slip-and-fall lost-time claim to be between $50,000 and $55,000.

Weather is a major factor in workers’ compensation. Slipping and falling because of snow and ice is one of the most common workplace injuries.

Resources for policyholders

With a few reminders and some common sense, policyholders can help employees stay safe and reduce the potential for claims.

A few basic tips for you to pass along include:

• Properly maintain your parking lot and walking areas
• Encourage employees to wear appropriate shoes for the weather
• In the case of a snowstorm, let employees work from home or reschedule if possible
• Manage snow piles near walkways to avoid melting snow refreezing to ice

Policyholders should educate their employees about other winter safety measures, such as walking like a penguin, salting slippery areas, avoiding shortcuts, and stepping down, not out, of vehicles.

If you are looking for additional resources to help in these efforts, check out what’s available on our website or contact your underwriter.

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SFM is planning to participate in several industry events in the coming months, including:

• Jan. 22-23 — Independent Insurance Agents of Iowa (Big I) Rural Agents Conference in Des Moines, Iowa
• Jan. 31 — Minnesota Association of School Public Administrators Conference
• Feb. 3-5 — Kansas Association of Insurance Agents (KAIA) Annual Convention in Wichita, Kan.
• Feb. 6-7 — Minnesota Association of School Business Officials Winter Conference (virtual)
• March 13-15 — Central States Occupational and Environmental Medicine Association seminar in Coralville, Iowa
• April 10-11 — Insurors of Tennessee Young Agents Conference in Nashville, Tenn. 
• April 14-16 — International Association of Industrial Accident Boards and Commissions Forum in Oklahoma City, Okla.
• April 24 — Minnesota Big I Convention in Minneapolis

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Here’s a look at the latest updates and milestones for SFM’s underwriting staff over the past several months.

• Underwriting Technical team welcomes Underwriting Technical Analyst Trevor Dyreson
• Carmen Klug promoted to Business Team Leader of Wisconsin Accounts
• Ashley Butcher was promoted to Business Team Leader in Small Business Accounts
• Mark Lewis promoted to Business Team Leader in Small Business Accounts
• Amber Saurbeir promoted to Marketing Underwriting Specialist
• Senior Underwriter Peggy Hengen retired after 30 years at SFM

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While pricing and coverage difficulties persist in other property and casualty segments, especially property insurance, agents shouldn’t let workers’ compensation insurance fall by the wayside.

Other lines of insurance may garner more headlines, as well as your attention, but there are several benefits to working with a work comp expert, especially considering some of the industry developments in recent years. Some concerning trends carriers are watching include:

• Higher claims severity
• Aging workforce
• Rise in workplace violence claims
• Mental health issues
• Increase in litigated claims
• High rates of injury frequency among newer employees
• Medical inflation

At the same time, multistate employers may face difficulties navigating the differences in claims rules and regulations, which can vary based on the jurisdiction.

“Workers’ compensation insurance has its own unique challenges for employers, which is why it makes sense to ensure policyholders are getting the best possible service and value,” said Cody Allen, Territory Manager at SFM. “By working with an insurer specifically dedicated to work comp, agents have access to the tools they need to streamline their processes. And equally important is the high level of care the injured worker receives.”

These factors contribute significantly to SFM’s 96% retention rate.

So, while property renewals may be a headache for many agencies today, don’t sleep on the importance of partnering with a strong work comp insurer.

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Cody Allen, SFM Territory Manager, has been elected to the governing board at the Indiana Compensation Rating Bureau (ICRB).

The ICRB is a private nonprofit association that includes all insurance companies licensed to write workers’ compensation insurance in Indiana. Chosen to join the group in in early October 2024, Allen will serve a two-year term that is already underway.

“I’m excited and honored to be chosen to join an organization like this,” Allen said. “SFM is proud to be involved in a state where workers’ compensation has been well run and profitable. The ICRB has provided strong leadership for years and created a robust work comp environment in Indiana.”

Established in 1935, the ICRB gathers information from its member companies that may be necessary to establish fair and adequate advisory rates, according to the organization’s website. That information is submitted to the Indiana Department of Insurance for review, then distributed to all member companies.

In addition to the data collection and ratemaking responsibilities, the ICRB is involved in other aspects of workers’ compensation in Indiana, including:

• Rules promulgation
• Experience rating
• Inspection and classification
• Assigned risk administration
• Industry education
• Dispute resolution

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Policyholders should know that new employees are among the most likely to be injured on the job.

In fact, SFM data over the past 13 years has shown a steady uptick in the number of claims for employees with four or fewer months on the job.

That’s why SFM has created several resources to help employers with safety practices for new hires.

New employee safety: Get your new hires off to a safe start (blog)

Effectively training new employees on safety can be challenging, but it’s key to protecting and retaining quality employees.

Cut down the risk of injury for your new employees (blog)

Make sure prospective hires understand the job and that new employees are properly trained to cut down the risk of injury.

Occupational injuries for new workers (fact sheet)

SFM conducted original research to identify injury risks for new employees. This fact sheet quickly details the findings.

Safety Orientation Success (guide)

Use this step-by-step guide to train employees in safety on the job.

You can also find onboarding checklists for specific industries, and a wealth of other safety information, on the SFM Resource Catalog.

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