September 6, 2016 – HONOLULU. The Board of Directors of Hawaii Employers’ Mutual Insurance Company, Inc. (HEMIC) has declared a $3 million dollar dividend payable to qualifying policyholders. This is the tenth consecutive year that the HEMIC Board of Directors has authorized a multi-million dollar dividend and, relative to earnings, the highest dividend share declared to date. With this dividend, HEMIC will have returned over $28 million dollars to Hawaii businesses over the last decade.
Policyholders insured with HEMIC for more than one policy year and who possess demonstrated safety records qualify for the dividend, which will be distributed in November.
HEMIC Chief Executive Officer, Martin Welch, said “HEMIC’s Directors are pleased to declare a $3 million dollar dividend this year. As a mutual insurance company, we are owned by our policyholders, so our goals and interests are directly aligned with theirs. This dividend declaration underscores how investing in workplace safety is good for employees and good for employers’ bottom line.”
HEMIC is the carrier of choice for over 95% of their policyholders, as well as the only guaranteed workers’ compensation insurer for Hawaii’s employers. HEMIC’s policy premiums are carefully tailored to each employer’s individual loss history.
“Our mission is to serve Hawaii’s businesses and employees, and we see it as our kuleana to work with policyholders to achieve safer workplaces through education, training, and a collaborative partnership,” said Jason Yoshimi, President and CFO. “This year, we anticipate nearly 80% of our members will receive a dividend.”
HEMIC is the State of Hawaii’s leading workers’ compensation insurer, caring for 6,000+ businesses and 75,000 workers across the Hawaiian Islands. HEMIC is a mutual insurance company, rated “A” (Excellent) with a stable outlook by A.M. Best. An expert in safety and loss prevention, HEMIC helps employers prevent workplace injuries as well as care for them. The company continues to expand its ability to serve Hawaii with innovative commercial insurance products and services through its subsidiary, HEMIC Insurance Managers, Inc. (HIMI).