Minneapolis-based workers' compensation insurer SFM Mutual Insurance Company announced today that Bob Lund has been chosen as the firm's new president and chief executive officer.
Mr. Lund, currently SFM vice president and general counsel, has been with the firm since 1998. He will succeed Pat Johnson, who is retiring after 14 years as president and CEO, SFM Board Chairman Truman Jeffers announced.
Mr. Lund is due to take office May 1. He said in a statement: "SFM has established a tradition of delivering timely, expert and effective service to our policyholders at a competitive price and at a long-term value that is unmatched in the industry. I hope to build on that tradition and to further enhance our relationships and shared resources with our agency partners in Minnesota and Wisconsin."
Mr. Jeffers said the new CEO was selected from a field of more than a dozen candidates from across the country.
He called Mr. Lund "a bright, gifted leader with a keen understanding of the financial, regulatory and market environment of workers' compensation–attributes that will move the company forward in serving employers and injured employees."
SFM said Mr. Lund has been instrumental in the company's growth in recent years, including reorganizing the company around multi-functional teams and customer segments.
As leader of SFM's technical services, the company said he "has managed innovations in better understanding and controlling the costs of workers' compensation claims, including designing more effective medical cost-controls."
Mr. Lund represents the workers' compensation insurance industry in business organizations including the Minnesota Chamber of Commerce, where he has chaired the Labor Management Committee, and on numerous state panels, including the Minnesota Insurance Guaranty Association board and Minnesota Department of Labor and Industry task forces.
SFM describes itself as the largest writer of workers' compensation insurance and services in Minnesota.
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