The board of Hawai`i Employers’ Mutual Insurance Company Inc. has declared a $3.5 million dividend payable to qualifying policyholders.
HEMIC says that with this dividend it will have returned over $38 million dollars to Hawaii businesses over the last 13 years.
According to HEMIC CEO Martin Welch, nearly 80% of policyholder members will receive a dividend this year, averaging over 8% of their annual premium.
“In today’s economy, this can make a significant difference to their bottom line,” Welch said in a statement. “The ability to issue dividends underscores our strong financial position and reflects our service to our policyholders.”
To qualify for a dividend, policyholders must be insured with HEMIC for more than one consecutive policy term and demonstrate a commitment to safety. Dividends will be distributed in November.
HEMIC, which also serves Hawaii as the residual market for employers unable to obtain workers’ compensation coverage elsewhere, covers more than 6,700 businesses and 75,000 workers across the Hawaiian Islands.
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