1993
Established as a private mutual company to serve as guaranteed market for workers’ compensation in Maine by Maine Legislature
1993
Partnership for Workplace Safety public awareness campaign debuts
1994
MEMIC announces first reduction in Maine workers’ compensation rates in 35 years
1997
MEMIC announces third consecutive year of rate reductions
1998
Maine workplace injury rate has decreased by more than 30 percent since 1992
1998
Bureau of Insurance declares MEMIC has attained “capital adequacy;” Company announces first return of capital to policyholders; $5.1M disbursed
1999
Board of Directors vote to disburse another $16M in capital to policyholders
2000
MEMIC is first company of its kind to earn an “A” from A.M. Best, the insurance industry’s most respected benchmarking organization; Company establishes subsidiary, MEMIC Indemnity Company, based in Manchester, NH
2001
Board of Directors vote to disburse remainder of $47M of capital collected to eligible policyholders
2002
MEMIC is recognized by The Ward Group, an independent insurance analyst, as being part of the top 50 property casualty insurers among more than 3,000, putting company in top 2 percent of all insurers for financial strength and security
2004
MEMIC is recognized for third consecutive year as part of The Ward Group’s top insurers
2005
MEMIC returns $4.0M to employers in dividends; Company named to the Ward 50 for fourth consecutive year
2006
MEMIC returns $12.0M in dividends, named to Ward 50 for 5th consecutive year
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