Employers

HEMIC

Hawaii Employers’ Mutual Insurance Company (HEMIC) is a leader in providing workers’ compensation coverage for Hawaii businesses. We aim to reduce insurance costs and help keep employees safe. It is a privilege to serve our policyholders and to help meet their risk management objectives.

Coverage
HEMIC provides coverage for workers’ compensation in the State of Hawaii.  As an extension to that coverage, HEMIC will provide USL&H on an incidental basis.  For more information about USL&H coverage, please refer to the U.S. Department of Labor website.

HEMIC offers Employers’ Liability limits up to $1,000,000.

Pricing Philosophy
As part of our effort to help all policyholders run safer businesses, we offer direct cost savings to those that have addressed the safety of employees in a formal plan.

HEMIC uses a five-tier rating plan.  The applicable tier is determined by the policyholders’ service requirements and other characteristics of the risk.

Workers Compensation Safety Credit Plan
Your client’s policy may qualify for one or more premium credits by  adopting certain safety and claim mitigation programs meeting HEMIC requirements. In order to apply for safety credits, the following needs to be completed: Safety Credit Application.

HEMIC’s High Risk Rating Plan
Policyholders with a poor loss history and/or who refuse to implement reasonable safety and claims practices may be subject to HEMIC’s high risk rating plan.  This plan allows HEMIC to adjust those policyholders’ premiums upwards to cover expected increased safety and claims costs.

Premium Calculations
The premium is determined by multiplying the employers’ payroll by a specified rate.  This rate is based upon an industry-standard manual that classifies different types of employment.  The standard rate is then modified in accordance with HEMIC’s filed rating plans.  Payrolls and premiums are estimated at policy inception and finalized with a final audit that is conducted when the policy expires.

Premium Audits
All workers’ compensation policies are subject to an annual premium audit to verify factors that might call for a premium adjustment. Upon policy expiration, HEMIC will review the final payroll records  to determine final earned premium.