Mission: At MEMIC, our mission is to provide employers with safety training services and the best workers’ compensation products at the lowest possible cost and promote fair and equitable treatment for all workers while maintaining excellent ratings and a strong balance sheet.
From a legacy of workers' comp reform…
When you join MEMIC, you become part of a great story that is spreading to the 46 states in which we are licensed.
Maine Employers' Mutual Insurance Company (MEMIC) is a private mutual insurance company that opened for business in January 1993. We were the keystone of the landmark 1992 reforms of Maine workers' compensation law – a guaranteed market for workers’ compensation insurance.
In more than 25 years of business, our employees’ commitment to safety training services and effective injury management have made us a formidable force within the workers' compensation insurance market both inside and outside of Maine. In 2018, MEMIC was recognized as “the top workers’ compensation insurance company in the U.S.” by ACORD, the insurance industry’s global standard setting organization.
It’s easy to understand our commitment. When we were formed, our board of incorporators set out to build a different kind of insurance company in a state that had the highest costs in the nation. As one founding board member said, “We’re going to be a safety company that sells insurance.”
Safety and compassion cornerstone
From the beginning, the board and company employees tackled the one factor that drove costs: workplace injuries.
We established a safety department that delivered expert safety training and launched an ongoing "Partnership for Workplace Safety" public awareness campaign. This massive effort by MEMIC helped lead the way to cultural change in Maine's workplaces.
The company's treatment of injured workers is another MEMIC hallmark. By assuring appropriate medical care and on-time payments for injured workers, the company has become a leader in the area of injury management.
Since 1993, lost-time injuries in our home state have been reduced by 30 percent and as of 2018, the overall cost of insurance in Maine has been reduced by more than 60 percent. Despite the fact that more than 200 insurance companies are now licensed in the competitive Maine market, MEMIC has remained the leader, insuring more than 65 percent of the state’s insured businesses.
MEMIC is a financial success as well. The company and its subsidiaries are rated “A” (Excellent) by A.M. Best. With consistently favorable results and more than $1.3 billion of invested assets, we have issued Maine policyholders dividends and capital return of more than $240 million.
Our success has earned us accolades and recognition from a host of organizations. In 2010, the company earned top marks among commercial insurers for our customer service. In addition, the company was featured on the cover of A.M. Best magazine in an article about the its outstanding performance.
Far beyond Maine...down the Eastern Seaboard
We continue to grow and have doubled our number of employees in just five years. In 2000, MEMIC formed MEMIC Indemnity Company, a subsidiary based in Manchester, N.H. Today, MEMIC Indemnity Company is licensed to serve employers across the US with a focus on territories from Maine to Florida. In 2012, MEMIC acquired a Vermont-based insurer and created MEMIC Casualty Company.
The company now has offices in:
MEMIC’s reputation as an innovator in workers’ compensation continues to grow. In 2008, we became the first company to integrate Employment Practices Liability Insurance (EPLI) with workers’ compensation with our MEMIC Edge with EPLI policy endorsement. Thousands of MEMIC policyholders have adopted MEMIC Edge with EPLI.
In 2009, MEMIC introduced a partnership with MMG Insurance as a workers’ compensation partner. We have since added a similar partnership to offer our product through Preferred Mutual Insurance Company and its agents. The company’s adoption in 2011 of Comp-As-You-Go, a payroll-based payment method, as well as online billing, have proven popular with our customers.
If you join MEMIC, you can contribute to a very bright future serving American workers and their employers in the most meaningful way possible – keeping them safe.
So, it’s no surprise we’ve assembled some of the best talent in the industry. Employers and agents choose us because MEMIC employees are the best at what we do. In 2018, MEMIC was recognized as “the top workers’ compensation insurance company in the U.S.” by ACORD.
If you’re looking for a challenge that has meaning, opportunities that reward, down-to-earth co-workers with talent, benefits that give peace of mind and company social outings that are, dare we say, “fun” — then you may have found your next appointment in life.
Ever wonder what's it's really like to work somewhere? You know, bypass the standard perks and benefits list and get to the heart of a company? Here's an insider's look at reasons why people choose MEMIC and stay.
We recognize the importance of our employees having a comprehensive benefits package plus some other, less traditional services to help our employees balance work and family.
I have been working at MEMIC full-time (Less than a year)
I've been here for a year and I can see things changing. It seems like MEMIC is renewing its energy, getting people more involved and shaking off the crust. Open-door leadership from our new president, Mike Bourque, and a good sense of where we're going, has been really fun to see and I expect we'll see even more.
Nothing comes to mind. I mean, who doesn't like ice cream socials and a chance to make a difference?
Advice to Management
Keep measuring outcomes and people will keep responding. There's a lot of talent at MEMIC that wants the company to succeed. Keep trusting your instincts.
I applied online. The process took 4 weeks. I interviewed at MEMIC (Portland, ME) in September 2017.
I applied online and had a phone screen set up for a few days after I applied. Most questions were general interview questions you would expect, others were a little more difficult. I interviewed about a week after my phone screen, it was multiple group interviews that lasted about 1/1.5 hours in total. I received a job offer about a month after I applied. The recruiter was great and kept me updated throughout the process!
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