New Subsidiary, Employers’ Protective Insurance Agency (EPIC), to Offer Temporary Disability Insurance
HONOLULU, HAWAI‘I — Hawai`i Employers Mutual Insurance Company (HEMIC) announces the launch of a new, wholly owned subsidiary: Employers’ Protective Insurance Company (EPIC).
EPIC’s initial product offering will be Temporary Disability Insurance. “We believe TDI is a natural complement to workers’ compensation insurance, as it is required by statute for all businesses, provides coverage for non-occupational disability, and utilizes a similar claims process,” said Martin J. Welch, CEO of HEMIC. “With our expertise, technology, resources and commitment to the State of Hawaii, we believe we can provide faster, better service at competitive prices for the benefit of Hawai`i’s businesses, workers and agents.”
“Like HEMIC, EPIC has the advantage of being a 100% local Hawaii company,” said Tammy Teixeira, VP of Agency Management & Service at HEMIC. “From underwriting to claims, our employees understand and appreciate the unique dynamics and needs of our local businesses and workplaces. This – combined with our technical expertise in managing disability – is a winning combination for Hawaii businesses.”
Jason Yoshimi, President and CFO of HEMIC, added, “As a mutual insurance company, our primary obligation is to our policyholder members. We have a long-term commitment to care for Hawai`i’s businesses and their employees. EPIC’s offering will build further on that commitment, both by filling an important coverage need for local businesses and by enhancing the growth, stability, and long-term security of HEMIC.”
The creation of EPIC continues HEMIC’s ongoing, long-term, strategic diversification. HEMIC’s first subsidiary, HEMIC Insurance Managers, Inc. (HIMI) recently celebrated its 10th Anniversary. HIMI provides a valuable service to local agents, acting as a managing general agency brokering complementary lines of property and casualty insurance, as well as providing risk management services.
Subject to normal regulatory approvals, EPIC plans to be writing TDI coverage effective January 1, 2019.
HEMIC is the State of Hawai’i’s leading workers’ compensation insurance company, caring for more than 6,500 businesses and 75,000 workers across the Hawaiian Islands. Rated “A” for financial strength by A.M. Best, HEMIC is a mutual insurance company and has returned more than $31 million dollars in dividends to its policyholders over the past eleven years. An expert in safety, HEMIC helps employers prevent workplace injuries as well as care for injured workers. To learn more about HEMIC, please visit www.HEMIC.com.