Montana State Fund President & CEO Announces Retirement


Helena, MT ( - Montana State Fund (MSF) President and CEO, Laurence Hubbard, recently announced his retirement after nineteen years in the position and more than 30 years with the company.

“Montana State Fund’s success has been, without question, accomplished by extraordinary teamwork. The hard work of our focused and dedicated employees and professional staff, a supportive and trusting board of directors, and policymakers who had the foresight to create an independent insurance organization made certain that our goals have become reality. I am most proud of the culture of customer service, teamwork, and transparency that I have been able to foster as MSF’s President/CEO,” said Hubbard.

Hubbard joined MSF in 1989 at a time when Montana’s workers’ compensation system was in financial crisis and costs for employers were very burdensome. Hubbard began his career as an attorney in the legal department before becoming Vice President of Operations and then President and CEO of the largest workers’ compensation insurance company in Montana.

Over the years, Hubbard’s leadership has helped steer the organization into a financially strong, service-centric, company that aims to care for employers and their injured workers in the most Montana way possible.  Hubbard also served as President of the American Association of State Compensation Funds and on the Board of Directors of the National Council on Compensation Insurance.  He has also served on the Board of Governors of Leadership Montana and is current Chair of the Montana Chamber Foundation. 

Board Chairman Richard Miltenberger had the following to say about Hubbard: “Mr. Hubbard’s commitment and dedication to our organization has been invaluable. He has done a remarkable job building Montana State Fund into a financially and culturally strong entity that will serve Montanans for generations to come. While we will miss his passion, intellect, and leadership, we wish him all the best in his well-deserved retirement.”

The MSF Board of Directors has begun the process of searching for a successor and a nationwide search has been launched with the intent of filling the position by mid-2022.

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