MEMIC timeline

Timeline created by jmocciola
  • Workers' Compensation Act

    Workers' Compensation Act
    Workers' Compensation Act of 1992 signed into law by Gov. McKernan
  • MEMIC incorporated

    MEMIC incorporated
  • MEMIC opens!

    MEMIC Offically opens for business.
  • First Campaign Launched

    Partnership for Workplace Safety campaign launched.
  • 261 Commercial Street

    Move from Westbrook to 261 Commercial Street, Portland.
  • Second Year

    At the start of the second year, providing insurance to more than 24,000 employees.
  • First Rate Reductions

    MEMIC announces rate reductions, the first in Maine in 35 years.
  • Statewide injuries reduced.

    Statewide injury reduction announced, predicts double digit rate decrease.
  • Logging program introduced

    Logging program introduced
    Certified Logging Professional Program intriduced statewide.
  • Capitalization charges end.

    End of capitalization charge to policyholders.
  • Another rate reduction!

    Another rate reduction!
    Rate reduction of 8.2% announced; statewide injuries fell to 14,000.
  • MEMIC announces third consecutive year of rate reductions.

    MEMIC announces third consecutive year of rate reductions.
  • www.memic.com launched

    www.memic.com launched
    First public viewing of WWW.MEMIC.COM
  • Maine's Largest Workers' Comp Company Celebrates Fifth Anniversay With Largest-Ever Rate Decrease

    (Portland, Maine: January 5, 1998) - Maine Employers' Mutual Insurance Company, the state's largest workers' compensation insurance carrier announced today that it has dropped its overall average cost of insurance by 12.2% according to John Leonard, President & CEO. The new rates, effective as of January 1, 1998, are coincidental with the company's fifth anniversary of serving as the keystone to Maine's workers' compensation insurance market.
  • State's Largest Workers' Comp Company Authorized to Provide Maine Employers Out-of-State Coverage

    PORTLAND, Maine) - The nearly 20,000 employers insured by Maine Employers' Mutual will soon be able to secure workers' compensation insurance coverage for their employees who work out of state through MEMIC, the state's largest workers' compensation insurance carrier. Thanks to the sponsorship and signature of Governor Angus King, a recently passed legislative measure authorizes MEMIC to establish a subsidiary to write workers' compensation in other states.
  • Leonard Announces Return of $5.1 Million to More Than 32,000 Employers

    (Portland, Maine)-- More than 32,000 Maine employers will soon receive their first distribution of the capital each contributed to help fund the start-up of Maine Employers' Mutual Insurance Company (MEMIC) according to John Leonard, President and Chief Executive Officer of the state's largest workers' compensation insurance company. The announcement was made today at the sixth annual meeting of MEMIC policyholders.
  • Maine workplace injury rate has decreased by more than 30 percent since 1992.

  • MEMIC’s payment record is far better than other insurers

    Workers’ Compensation Board study shows MEMIC’s payment record is far better than other insurers
  • $15.5M return of capital

    MEMIC announces a $15.5M return of capital.
  • MEMIC Awards Include Citations for Excellence to Maine Employers

    PORTLAND - At its Annual Meeting, Maine Employers' Mutual Insurance Company (MEMIC) made awards to 16 Maine companies for outstanding performance in safety and managing injuries. "These companies are leaders in the state of Maine," MEMIC President and CEO John T. Leonard said. "Because of the commitment made by these employers and their employees, fewer people get hurt and those who are injured on the job have the support they need to recover and return to work."
  • Board of Directors vote to disburse another $16M in capital to policyholders.

    Board of Directors vote to disburse another $16M in capital to policyholders.
  • A.M. Best announces MEMIC is rated 'A' Excellent

    A.M. Best announces MEMIC is rated 'A' Excellent
  • Subsidiary MEMIC Indemnity Company incorporated

  • MEMIC Indemnity writes first policies

    MEMIC Indemnity writes first policies
    MEMIC Indemnity, headquartered in Manchester, NH, writes first policies.
  • MEMIC offers $7.7M in remaining capital contribution to eligible policyholders

    MEMIC offers $7.7M in
    remaining capital contribution
    to eligible policyholders;
    total return of more than $40M.
  • MEMIC named to Ward 50

    MEMIC named to Ward 50
    MEMIC named to Ward 50,
    top 2% of P/C insurers
  • MEMIC announces first-ever policyholder dividend of $6.0 M

    MEMIC announces first-ever
    policyholder dividend of $6.0 M.
  • MEMIC celebrates 10th Birthday!

    MEMIC celebrates 10th Birthday!
    MEMIC celebrates
    10th Birthday!
  • Period: to

    MEMIC timeline

  • Period: to

    The beginning

  • Period: to

    261 Commercial Street