Workers’ Compensation Insurer MEMIC Expanding to Florida

February 6, 2013

Portland, Maine-based workers’ compensation insurer The MEMIC Group said it will open its first office in Florida in the second quarter of 2013.

MEMIC President and CEO John T. Leonard said the company’s plan to actively market its workers’ compensation product in Florida is an important step in the company’s growth down the Atlantic Seaboard.

“There are strong business connections between our territories in the Northeast and the state of Florida,” Leonard said.

The company said it has leased office space in Tampa.

In 2012, MEMIC opened offices in Weehawken, New Jersey and West Conshohocken, Pennsylvania. The company’s headquarters remain in Portland, Maine with additional offices in Manchester, New Hampshire; Glastonbury, Connecticut; and Albany, New York.

The company said it achieved growth of 13 percent in 2012, its second straight year of double-digit growth. Outside of its legacy territory in Maine, the company has grown by 60 percent since 2010, including a 29 percent jump in 2012.

“We’ve enjoyed strong growth as we have developed relationships with a few of the top agencies in the states we have entered,” Leonard said.

The MEMIC Group holds licenses to write workers’ compensation in 46 states plus the District of Columbia. The company insures nearly 20,000 employers and their estimated 250,000 employees.

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