The rate reduction will save more than 17,500 Maine employers as much as $31 million in total workers’ comp costs, which are among the highest in the nation.
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Posted inBusiness, Maine
MEMIC returns $18 million to policyholders
The workers comp company is returning dividends to 14,000 policyholders, reflecting savings from lower-than-expected losses from workplace injuries.
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Posted inBusiness
State lawmakers will move forward on proposed workers’ comp reform
Democrats and Republicans in the Legislature have failed so far to reach an agreement on the changes.
Posted inMaine, sj-web
Maine employers to receive record dividends from workers’ comp insurer MEMIC
More than 17,000 Maine employers will receive a record $22 million in dividends this November from The MEMIC Group, the Portland-based workers’ compensation insurer said Tuesday. The MEMIC board of directors authorized the policyholder dividend at its Sept. 28 meeting, the company said in a news release. “With this record dividend, MEMIC will have returned […]
Posted inMaine, sj-web
Maine court to decide if worker's comp has to pay for medical marijuana
The Maine Supreme Judicial Court will decide if state law requires Workers’ Compensation Insurance to pay for a millworker’s medical marijuana or if the insurer could be charged as an accessory in a drug deal under federal law. Justices are set to hear arguments in the case Wednesday at the Capital Judicial Center in Augusta, […]
Posted inBusiness, sj-web
Workers’ comp insurer reports record return for Maine employers
PORTLAND — The Maine Employers’ Mutual Insurance Co. will issue an $18 million dividend to about 17,000 policyholders based in Maine. That dividend amount is the highest in the Portland-based company’s history, topping a $16 million dividend issued last year to Maine employers, which equaled about 13 percent of premiums. This year’s dividend is based […]
Posted inBusiness, sj-web
Maine insurance bureau approves steepest workers’ comp rate decrease in 16 years
AUGUSTA — The Maine Bureau of Insurance on Thursday approved a rate decrease for workers’ compensation insurance that is expected to save Maine businesses $15.2 million. The bureau based its approval on a recommendation the National Council on Compensation Insurance, a rating organization that analyzes workers’ comp insurance rates for several states, including Maine, made […]