For Immediate Release

January 9, 2006

LANSING — The Michigan Retailers Association (MRA) today announced the launch of Retailers Mutual Insurance Company, the first completely new insurance company established in Michigan in six years.

Retailers Mutual provides cost-saving workers’ compensation insurance to a wide array of businesses, non-retail as well as retail. It was established by conversion of Retailers Fund, Michigan Retailers’ highly successful group self-insured workers’ compensation program.

Conversion was approved by the state Office of Financial and Insurance Services (OFIS) and the state Workers’ Compensation Agency, as well as by trustees and participants of Retailers Fund and by the MRA Board of Directors.

"This is an exciting moment and the realization of a dream for our organization," said Larry Meyer, MRA chairman and CEO, who also serves as CEO of the new company. "It is the next logical step for our workers’ compensation program, which was established in 1981 to save businesses money on skyrocketing workers’ compensation costs."

"Retailers Mutual is the new company with an impressive 25-year track record," said James P. Hallan, MRA president and chief operating officer, who also serves in those positions in the new company. "Converting to a mutual company provides important benefits to existing MRA members and untold numbers of future members—businesses of all types."

OFIS Commissioner Linda A. Watters commented: "This is a prime example of a company taking advantage of the positive Michigan business environment by expanding its services and presence in Michigan. I am delighted that Retailers Mutual will be domiciled in Michigan and look forward to working with the company as it grows."

Retailers Mutual, headquartered at MRA offices in downtown Lansing, began operations on January 1, 2006. The nearly 1,000 Retailers Fund participants automatically became Retailers Mutual policyholders on that date. Retailers Mutual policies are sold through independent insurance agents and MRA’s regional marketing representatives.

Hallan said directors decided to buck a national trend of incorporating insurance companies "off-shore" because, "the company’s roots are in Michigan, our policyholders are in Michigan and we are committed to the future of Michigan."
Businesses and insurance agents wanting information about the new company and its insurance policies can reach Retailers Mutual at 800.366.3699.

The Michigan Retailers Association is the unified voice of retailing in Michigan and the nation’s largest state trade association of general merchandise retailers.

Fact sheet
Retailers Mutual logo (484K pdf)
Larry Meyer bio (56K pdf)
James P. Hallan bio (24K pdf)