Midwest Builders’ Casualty was founded in 1983 by a group of like-minded contractors who wanted to create a specialty workers’ compensation market for the commercial construction industry in Kansas and Missouri. To accomplish this goal, they created a workers’ compensation group self-insurance pool. By design, Midwest Builders’ Casualty was built to be different from traditional insurance markets by providing industry expertise and specialized service, in addition to maintaining consistent rates and returning excess profits to policyholders in the form of dividends.
Midwest Builders’ Casualty and its founders were determined to provide exceptional service and benefit to their members that the Board of Directors was comprised solely of policyholders to help ensure this goal was met. Even today, a majority of the Board of Directors are policyholders.
In 1998 Midwest Builders’ Casualty was the first group self-insured workers’ compensation pool to be awarded an A- rating by A.M. Best Company, a rating that is still maintained today. Midwest Builders’ Casualty was one of the first carriers to allow policyholders to pay their premiums based on their monthly payroll volume. This provided a great benefit to the construction and manufacturing policyholders by allowing control over their cash flows based on their business volume.
Although successful as a workers’ compensation pool the Board of Directors and policyholders elected to convert from a self-insured pool to a mutual insurance company on July 1, 2008. The conversion to a mutual insurance company allowed for the organization’s continued growth through an expanded operating territory that enabled Midwest Builders’ Casualty to write business outside of Kansas and Missouri. At the same time, the company maintained the same high servicing standards and business practices. The company is currently licensed in 17 states throughout the Midwest.
In 2010 management and the Board of Directors created two wholly owned subsidiary stock insurance companies to allow for rate and product differentiation in the market. Today, Midwest Builders’ Casualty Group includes Midwest Builders’ Casualty Mutual Company, Bearing Midwest Casualty Company and Horizon Midwest Casualty Company.