Maine Employers’ Mutual Insurance Company has returned $21 million to Maine employers insured by the workers’ compensation provider.
About 18,000 employers in the state will see insurance returns from the Portland-based insurer. MEMIC president Michael Bourque attributes the lower costs to better workplace safety. Bourque says fewer injuries keep costs down.
The state Legislature created MEMIC in 1992 to fill the void left by commercial insurers that left Maine because of rising costs. MEMIC provides 65 percent of workers compensation insurance in Maine. According to Bourque, the mutual insurance company has returned more than $240 million in dividends to thousands of Maine employers since 1998.
Topics Commercial Lines Talent Workers' Compensation Business Insurance Maine
Was this article valuable?
Here are more articles you may enjoy.
Eli Lilly Wins Court Order in Fraud Allegations Against Florida, TN Pharmacy Groups 
Danone US Sues Chobani Over High-Protein Yogurt Labeling Claims 
Hacking Group Claims Major Hack of Novo Nordisk and Attempted $25M Extortion 
Read 14-Point Draft Memorandum of Understanding Between the US and Iran 
