SFM Mutual Insurance Co. announced today that its Financial Strength Rating of “A- (Excellent)” and Long-Term Issuer Credit Rating of “a-” have been confirmed again by AM Best Rating Services, Inc.

Following a detailed analysis of SFM’s balance sheet, operating performance, business profile, innovation initiatives and enterprise risk management, AM Best reaffirmed SFM’s standing. Also, before publicly disclosing the rating in April 2025, AM Best conducted a thorough review of SFM’s finances and operations.

“In our annual review with AM Best, we were pleased to once again demonstrate how our commitment to service excellence delivers strong results,” SFM President and CEO Terry Miller said. “We consider the organization’s assessment to be a key indicator of SFM’s long-term financial strength and stability.”

About AM Best

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com .

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SFM recently hired Dr. Andrew Wilkins as Chief Medical Director.

In his role, he will assist in the management of complex claims, serve as an educational resource, and lead strategic initiatives to better understand what is driving a rise in medical severity and how we can best address it.

“I’m looking forward to taking a holistic approach to complex claims and trying to find solutions that best benefit the patient, the policyholder and SFM as a whole, backed by good medical practices and literature,” he said.

By way of background, Wilkins attended medical school in Arizona, followed by a residency in Emergency Medicine at the Medical College of Georgia while on active-duty service. Wilkins then joined the Army’s 101st Airborne Division, providing medical care as a Battalion Surgeon in the Middle East, Europe, and at Fort Campbell, Ky.

After transitioning to civilian practice, Wilkins most recently was a staff physician at the Minneapolis VA Medical Center. He serves on the state Medical Services Review Board, is board certified in emergency medicine, and has special interests in medical education and health care leadership.

Outside of SFM, Wilkins enjoys running on the Chain of Lakes, studying history, and spending time in his home state of Idaho. He lives in Minneapolis with his spouse, Bethany, and two young daughters, Olivia and Sasha.

Wilkins joined SFM in November 2024.

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SFM regularly holds educational webinars to help policyholders manage the complexities of workers’ compensation issues. 

The next webinar, set for 10-11 a.m. Wednesday, June 25, is Preventing sprains and strains, an SFM webinar for policyholders. Register now.

Need some tips for preventing these injuries before the webinar? Here are related resources about the topic:

• Prevent strains and sprains through proper ergonomics
• Muscular injuries: How to combat common ergonomic challenges

Also, you can check out previous SFM webinars on our website. The link here will give you access to all previous webinars, including:

• Driving safety
• Hiring and onboarding
• Claims 101
• Avoiding litigated claims
• The fundamentals of a return-to-work program
• Loss prevention 101
• Preventing winter slips and falls

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Lee Wendel, Director of Loss Prevention at SFM, was recently recognized by HOM Furniture, a regional retailer with locations in Minnesota, South Dakota, North Dakota, Iowa and Wisconsin.

The company presented Wendel with its Service Representative of the Year award.

Wendel said he was surprised with the honor. But company officials outlined the efforts that led to the award, including:

• Completing site visits for about half of HOM Furniture locations
• Discussing common issues and solutions with district managers and facilities personnel
• Working with the HOM warehouse team to file and receive a Minnesota Occupational Safety and Health Administration safety grant for ergonomics improvements by leveraging video artificial intelligence (AI) analysis
• Demonstrating and educating HOM leadership about technology in safety, such as virtual reality training, ergonomic position trackers and other AI solutions

“The leadership at HOM Furniture is truly committed to safety,” Wendel said. “They set goals and strive to make improvements. It’s a partnership between SFM, HOM safety officials and their agency partner.”

With a mixture of retail, warehouse and delivery services, HOM has several areas to monitor regarding safety. Company leaders take extra steps to ensure the safety of their employees, Wendel said, including having leaders talk with injured workers about what happened, helping them identify root causes and develop solutions.

“That’s one of the most effective things that they do,” Wendel said.

Notably, HOM Furniture’s safety efforts have halved both claims costs and workplace injuries over the past couple of years. The company has taken advantage of SFM’s safety resources and been proactive in developing safe workplaces and behaviors, Wendel said.

“I appreciated most that they said they feel as though I’m part of their team,” he said. “And that’s really my goal — to be someone they can rely on and to bring an outside perspective.”

Wendel leads SFM’s loss prevention team in developing best practices, resources and strategies. He has more than 30 years of experience in the field and has worked with hundreds of individuals to help support a safe work environment, including promoting safety culture in a wide range of businesses, schools and medical facilities. Additionally, he maintains relationships with vendors that support activities to help keep workers safe.

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Starting in 2025, SFM’s Bob Lund Scholarship will go from freshman to senior. Literally.

In 2022, SFM established the scholarship and partnered with Wallin Education Partners , a Minnesota-based nonprofit that serves high-potential students with financial need.

This spring, a fourth student will be selected for the Bob Lund Scholarship. Once the next school year begins this fall, four students — freshman, sophomore, junior and senior — will see their college careers helped along by SFM. The plan has been to support four students at a time.

“It’s amazing to see how committed SFM is to supporting the community,” said Kim Burandt, SFM Senior Project Manager, who helps coordinate the scholarship program. “We take pride in being a good corporate citizen and supporting underserved populations.”

The Bob Lund Scholarship provides college scholarships through the Wallin Scholars program — which has a mission to support college and career success for high-potential students from low-income backgrounds — as part of SFM’s effort to invest in future leaders and introduce them to careers in the insurance industry.

In addition to the scholarship funds, Wallin provides students with 1:1 advisement and career support. The organization also assists students in applying for other scholarships and state funding opportunities.

At the same time, SFM provides the students with gift baskets to help them get through the final weeks of their schooling and distributes information about internship opportunities at SFM. Members of SFM’s HR team also attend Wallin job fairs.

Initially, the scholarship was aimed at students looking to go into the insurance industry — “Insuring the future was our tagline at first,” Burandt said — but it has expanded to business, finance or actuarial fields.

SFM tracks the students’ progress and Burandt meets with Wallin once a year to get updates. So far, all three students are doing well.

Spread out over the four years of schooling, Wallin is a “last-dollar scholarship,” which means the group can help cover remaining costs after other scholarships or state funding are applied, e.g., books, class materials and living expenses.

“It’s exciting to add another student to the Bob Lund Scholarship roster,” Burandt said. “SFM continues to demonstrate its commitment to helping students overcome barriers to higher education.”

The current scholarship students are:

• Hideaki Lee (University of Minnesota)
• Natali Iguanero Espinoza (University of Wisconsin)
• Van Nguyen (University of Minnesota)

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Registration is now open for the SFM Foundation’s upcoming golf events in Minnesota and Iowa.

The foundation makes college more affordable for families affected by workplace injuries by offering post-secondary education scholarships to children of parents fatally or seriously injured on the job while working for a Minnesota or Iowa employer.

Iowa’s event will be held Monday, May 19, at Hyperion Field Club in Johnston. The day includes lunch and golf, followed by a reception, program and dinner. People can also sponsor the event. Find details on the registration page .

The Minnesota golf event is set for Monday, June 9, at Prestwick Golf Club in Woodbury and follows a similar schedule to the one in Iowa. Find more information on the registration page .

In 2024, the two events raised more than $160,000 in total, with over 260 golfers hitting the links for the fundraisers.

“We’re always so thankful of the support of our agent partners, clients and others who contribute to our mission,” said Linda Williams, President of the SFM Foundation. “These golf events are not only a way to raise scholarship funds, but they also allow those involved to connect and build a community.”

About the SFM Foundation

The SFM Foundation was created in 2008 by SFM Companies, a regional workers’ compensation insurance group headquartered in Bloomington, Minn. The nonprofit is dedicated to easing the burdens on families affected by workplace accidents. Since its inception, the foundation has awarded 247 scholarships totaling $4.1 million. For more information, visit sfmfoundation.com .

The SFM Foundation is an affiliate of Kids’ Chance of America in Iowa and Minnesota.

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SFM has long had a goal to increase the percentage of its charitable giving to 2% of pre-tax profit.

And the company reached that threshold in 2024.

“SFM is proud of our commitment to giving back to the communities we serve,” said Terry Miller, President and CEO. “Reaching this milestone is a major accomplishment and further cements SFM as a leader in the communities we live and work — as evidenced by our corporate philanthropy.”

With the additional charitable funds issued in 2024, SFM has become a member of the Minnesota Keystone Program, which promotes corporate philanthropy by recognizing and honoring companies that donate at least 2% of their pre-tax earnings to charitable organizations. Some of the state’s largest and most well-known employers are part of the program.

“I like that a lot of it goes through the employees,” said Sarah Hunter, SFM’s VP of Operations. “Then they’re deciding how to give back to the community that’s close to them. It makes people feel more of a part of what we’re doing.”

She also noted that SFM recommitted to the Keystone program in 2025.

In addition to direct donations, SFM gives back in a number of other ways, including:

• The SFM Foundation
• Its internal Connecting to Communities (C2C) committee
• External applications for donations
• The Bob Lund Scholarship
• Volunteer efforts

About the Minnesota Keystone Program

The Minnesota Keystone Program, administered by the Minneapolis Regional Chamber, promotes corporate philanthropy by recognizing and honoring companies that donate at least 2 percent of their pre-tax earnings to charitable organizations. In 1976, 23 Minnesota companies created this program (originally known as The 5% Club) to recognize and encourage charitable giving in the state. The commitment of Minnesota Keystone participants continues to serve as an example to other businesses, both here and around the globe, and to sustain Minnesota’s spirit of generosity and sense of community. Qualifying companies have an operating presence in Minnesota and donate cash or in-kind donations, including pro-bono services, and/or employee paid volunteer time. For more information, visit www.minnesotakeystone.org .

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The SFM Foundation will be accepting scholarship applications for the 2025-26 academic year until March 31, 2025.

The nonprofit makes college more affordable for families affected by workplace injuries by offering post-secondary education scholarships to children of parents fatally or seriously injured on the job while working for a Minnesota or Iowa employer.

Interested applicants can find a registration form and eligibility requirements for the scholarships on the SFM Foundation website .

Scholarships will be awarded based on injury severity and impact on the student and their family, among other factors.

About the SFM Foundation

The SFM Foundation was created in 2008 by SFM Companies, a regional workers’ compensation insurance group headquartered in Bloomington, Minn. The nonprofit is dedicated to easing the burdens on families affected by workplace accidents. Since its inception, the foundation has awarded 247 scholarships totaling $4.1 million. For more information, visit sfmfoundation.com .

The SFM Foundation is an affiliate of Kids’ Chance of America in Iowa and Minnesota.

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Following the recent promotion of attorney Aaron Schmidt, SFM’s in-house law firm is now Schmidt, Scharfenberg and Hollick.

Schmidt, who has been with SFM since 2015, is the new managing counsel at SFM.

“Aaron’s promotion to this role recognizes his client-centered approach to problem solving, and his interest in exploring and leveraging new technologies and processes to enhance the delivery of SFM’s in-house claims and legal services,” said Kathy Bray, Sr. VP and Chief Legal Officer at SFM.

Prior to joining SFM, Schmidt practiced law at private firms for several years in the areas of workers’ compensation, general liability and construction insurance defense.

“I’m excited to take on the Managing Counsel role at SFM,” Schmidt said. “We have so much opportunity for growth and sustained success on our team, and I look forward to continuing SFM’s highly respected reputation with the workers’ compensation bench and bar.”

With Schmidt taking on his new managing counsel position, John Hollick, Chief Defense Counsel, will dedicate more time to representing SFM and its policyholders in complex claims, as well as mentoring and educating claims personnel, and sharing his 35 years of experience through other projects.

“We are thrilled to begin this new chapter for SFM’s in-house legal team,” Hollick said. “SFM has the utmost confidence in Aaron and his talents as an attorney, and we are looking forward to having him enhance our delivery of legal services.”

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View the recording of SFM’s November 2024 workers’ compensation webinar, De-escalation in the workplace.

Workplace violence has become an increasingly common concern for employers, and taking the steps to mitigate potential issues is vital.

The webinar brought in SFM experts to examine:

• The four categories of workplace violence
• Factors behind workplace violence and which industries are at higher risk
• Elements needed for a successful safety program
• Why a safety program should include de-escalation techniques

The webinar also covered the associated work comp matters related to de-escalation, and policyholders and attendees gained insights into:

• The claims process once an injury is reported
• How workplace violence injuries can be challenging for return to work
• Employer costs due to workplace violence claims and litigation
• Much more, including a question-and-answer session at the end

View previous SFM webinars.

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