Columbia’s Insurance Industry

When economists and industrial recruiters talk about Columbia, they invariably point out that the local economy is less likely to be affected seriously by economic downturns than other cities because the primary employers are in stable sectors: education, health care and insurance. In the latest list of Boone County’s biggest employers, two insurance companies are in the top 10, and two others are in the top 30.
State Farm

Location: 4700 S. Providence Road
Year opened in Columbia: 1956
Number of employees in Columbia: 1,079 in 2009, 1,066 in 2010
Principals: Mike Staloch, vice president of operations
Amount of written premiums for 2009: $1 billion
Percentage paid out of premium activity: 61 percent
Website: www.statefarm.com
State Farm, based in Bloomington, Ill., insures nearly one in four homes and one in five cars in Missouri. It employs 67,000 people and manages policies throughout the US and Canada. The company opened a regional office in Columbia in 1956 and has since become Missouri’s largest insurance group. In 2005, the Columbia office expanded when the company consolidated by closing an operations center in Monroe, La. They have hired 31 employees at the Columbia office in the past year.
Shelter Insurance

Location: 1817 W. Broadway
Year opened in Columbia: 1946
Number of employees in Columbia: 1,000 in 2009, 1,000 in 2010
Principals: J. David Moore, president and CEO; Jerry French, executive vice president; William Keithley, executive vice president; Don McCubbin, executive vice president; Rick Means, executive vice president; Frank Thompson, vice president of marketing
Amount of written premiums for 2009: $1.1 billion
Percentage paid out of premium activity: 74 percent
Website: www.shelterinsurance.com
Shelter Insurance was originally part of MFA Mutual Insurance Company but separated in 1981. Shelter, now the sixth-largest insurance group in Missouri, has 1,400 insurance agents and provides services in 14 states. The company was named as a top-performing life insurer by Ward Group for the fourth year in a row. It also ranked fourth in customer satisfaction with auto insurance shopping in J.D. Power’s 2010 National Auto Insurance Study.
Columbia Insurance Group

Location: 2102 White Gate Drive
Year opened in Columbia: 1874
Number of employees: 160 in 2009, 160 in 2010 (330 companywide)
Principals: Bob Wagner, CEO; Gary Thompson, president
Amount of written premiums for 2009: $252 million
Percentage paid out of premium activity: 74.8 percent
In 1874, the Home Mutual Insurance Company offered insurance for property damage from natural disasters. Nearly 136 years later, that same company, now known as Columbia Insurance Group, is the 29th-largest insurance group in Missouri and operates in 19 different states. Wagner is retiring in 2011.
Missouri Employers Mutual Insurance

Location: 101 N. Keene St.
Year opened in Columbia: 1995
Number of employees in Columbia: 148 in 2009, 149 in 2010
Principals: Roger Wilson, president and CEO; Michael Foerst, vice president of information systems and chief information officer; Timothy Jackman, vice president of claims, compliance and legal services; Michael Kravchick, vice president of sales and marketing; Steven Millikan, vice president of public affairs; Doug Phillips, vice president of finance/CFO; Joyce Underwood, vice president of policyholder services
Website: www.mem-ins.com
Headquartered in Columbia, MEM has 200 employees across the state, with offices in Kansas City, Springfield and St. Louis. In 2009, the company laid off 13 percent of its workforce. Policyholder surplus increased from $93.5 million in 2005 to $154.4 million in 2009. Its number of policyholders increased from 12,320 in 2009 to 12,508 in 2010, a small jump due to losing policyholders during tough economic times. This year, MEM is offering rates 15 percent lower than the standard rate to those with premiums of $3,500 or less.
The Insurance Group

Location: 200 E. Southampton Drive
Year opened in Columbia: 1898
Number of employees in Columbia: 34 in 2009, 36 in 2010
Principals: Charlie Digges Jr., president; Skip Grossnickle, vice president and COO; Jason Swindle, vice president of benefits; Rich Miller, vice president of property casualty
Website: www.theinsurancegrp.com
The Insurance Group began in 1922 as Rollins & Rollins and eventually bought the Columbia Insurance Co., which was founded in 1898. More than 100 years and several name changes later, the group continues to expand. In 2007, its new two-story building was finished, complete with a gym and wellness center open to the public. The group’s policy numbers have been growing for the past couple years but does not give out specific numbers.
Naught-Naught Agency

Location: 3928 S. Providence Road
Year opened in Columbia: 1989
Principals: Tom Naught, owner; Philip Naught, Columbia office manager
Website: www.naught-naught.com
Founded in 1972 by Tom, Rick and Harry Naught, Naught-Naught started in Jefferson City and has since grown to 14 offices throughout mid-Missouri. In 2009, it was named in the top 10 growth agencies for Auto-Owners Insurance in the Missouri region.
Agents National Title Insurance

Location: 1207 W. Broadway St., Ste. C
Year opened in Columbia: 2006
Number of employees in Columbia: seven in 2009, nine in 2010
Principals: David Townsend, president and CEO; Brent Scheer, CFO and COO
Website: www.agentstitle.com
Agents National Title Insurance, formerly Farmers National Title, is the only title insurance underwriter headquartered in Missouri. Total premiums for the company have grown from $500,000 at its inception to $2.8 million currently (expected $4 million by the end of the year). It serves Missouri, Arkansas, Indiana, Mississippi and most recently Kansas, with licenses pending in four other states. The total value of property insured by Agents National Title is $14.5 billion.