December 3, 2018

MEMIC named Maine’s ‘insurance company of the year’

Courtesy / MEMIC Group
Courtesy / MEMIC Group
Employees of every department share in MEMIC’s “Company of the Year” award, including Loss Control Director Randy Klatt, Compensation and Benefits Director Kristen Wintle, Technical Support Supervisor Jeremy Barth, Claims Vice President Tom Wiese, Premium Audit Manager Ken Farley, Human Resources Director Deb Sabatino, Corporate Communications Director Kelly Barden, Underwriting Analyst Manager Shae-Li Fendler, Underwriting Manager Ben Delcourt, Finance Vice President Eileen Fongemie.


The MEMIC Group includes MEMIC Indemnity Co., MEMIC Casualty Co., and parent company Maine Employers' Mutual Insurance Co. — all rated "A" (Excellent) by A.M. Best. As a super-regional workers' compensation specialty insurer, The MEMIC Group holds licenses to write workers' compensation across the country. The group insures more than 20,000 employers and their estimated 300,000 employees, and holds more than $1.3 billion in assets. The group maintains offices in Manchester, N.H.; Glastonbury, Conn.; Albany, N.Y.; Weehawken, N.J.; West Conshohocken, Pa.; Tysons Corner, Va.; and Tampa, Fla.; in addition to its headquarters in Portland.

Members of the Maine Insurance Agents Association presented its "Insurance Company of the Year" award to MEMIC at the association's recent Young Agents Sales & Leadership Conference.

Melanie Campbell, vice president of commercial lines at Cross Insurance, congratulated MEMIC on receiving what she described as a "well-deserved award."

"It has been our honor to work with MEMIC throughout the decades, and we will treasure our ongoing relationship with them," she said.

MEMIC is Maine's leading workers' compensation insurer and is celebrating its 25th anniversary this year. Injuries in Maine have been reduced by more than 40% and the cost of insurance has dropped by 60% since 1993, the year MEMIC began operations.

As a mutual insurance company, MEMIC shares its financial success in the form of dividends with the employers across the state that are its policyholders and owners. This year's record dividend totaled $22 million, that's more than $263 million returned to MEMIC policyholders since 1998.

"I've been in this industry starting on my 37th year," said Heidi Louten of Quirion Insurance. "I remember what it was like before MEMIC. What a mess! Rates were ridiculous and companies were pulling out of Maine."

"By providing the best loss control services and the most knowledgeable workers' compensation underwriters in the business, MEMIC has made workers' compensation easier and earned this award," added Paul L. Tracy, president of The Winter Harbor Agency and member of Grindstone Financial Group LLC.

Also this year, MEMIC was named the top workers' compensation insurer in the United States by ACORD, the global standards-setting body for the insurance industry. MEMIC received the Corporate State Advocacy Award" from Million Women Mentors and MEMIC employees received the UNITED "We Thrive Award" for charitable giving from the United Way of Greater Portland.


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