The Fuel Marketers Insurance Trust (FMIT) was formed in 1993 to provide qualified MPCA members with cost-effective, soundly managed workers’ compensation coverage for their Missouri operations.
Formed under the self-insurance laws and regulations of the Missouri Division of Workers’ Compensation, the FMIT self-funded program will bring members the advantages of self-insurance typically afforded only to large companies.
The primary objective of the Trust is to work with safety- conscious members to mitigate accidents in the workplace and to thereby reduce the costs associated with Workers’ Compensation insurance. The aim is to provide the program only to those potential members that meet the stringent requirements of the group. It is intended to provide a method of controlling costs throughout the system and therefore returning control to the members without sacrificing any of the benefits that an injured employee is entitled to receive.
The goal of the Trust is steady and well managed growth and has no intention of including in its membership those that could potentially harm the group or deter its purpose.
Costs are controlled in the areas of premiums, accidents, injuries, litigation and lost productivity. Cost containment is achieved through ongoing member education, conscientious loss prevention and control, careful claims management and a premium audit system.
FMIT is governed by a Board of Trustees consisting of FMIT members, who are elected by the membership.
The Trust is sponsored by the Missouri Petroleum and Convenience Store Association, an established, well-respected Association with a proven record of providing beneficial programs to its members and working towards improving the business environment within the State of Missouri. In 2021 FMIT gained the endorsement of the Missouri Grocers Association and is now the preferred option for workers’ compensation insurance for their member grocery store operators. FMIT seeks to protect and further the interest of safety-conscious employers throughout Missouri and sees the Trust as a means to help accomplish this goal.