ALBANY, NY, August 21, 2007—Leading workers’ compensation insurer MEMIC has opened an office in Albany, giving the company access to customers in the New York market for the first time.

The company opened its office at 12 Metro Park Road in Albany for its MEMIC Indemnity Company subsidiary in June, and has begun offering its brand of high quality workers’ compensation insurance to employers in upstate New York through select insurance agents.

“We’ve had great success providing workers’ compensation insurance that includes high quality workplace safety training service to employers across the Northeast,” said MEMIC President and Chief Executive Officer John T. Leonard. “Now we have the opportunity to offer our special model to employers across upstate New York. We can help employers take advantage of the new reforms, reduce their injuries, and help them to sustain lower costs for their workers’ compensation.”

MEMIC, which insures more than 20,000 employers in New England, is the company credited with helping employers in Maine reduce injuries and sustain lower costs after the state reformed its workers’ compensation laws. Today, the state’s injury rate has decreased by more than 35 percent and the average rate for MEMIC customers has gone down by about the same percentage.

“We focus on bringing high quality, dedicated service, particularly in workplace safety,” Leonard said. “Whether it’s ergonomics or material handling issues or any other area, we have experts who offer practical insight and really make a difference. Our customers tend to stay with us year after year because they know they can rely on our advice and guidance to help them protect their employees and create long-term savings.”

The company has contracted with six New York-based independent insurance agents who will serve as the company’s sales force in the region. The company has already begun to build a base of customers through these agents.

The MEMIC Group, rated “A” (Excellent) by A.M. Best, also has offices in Portland, Maine; Manchester, New Hampshire; and Glastonbury, Connecticut.

MEMIC Indemnity Company, based in Manchester, NH, is a wholly-owned subsidiary of MEMIC and a member of The MEMIC Group, rated “A” (Excellent) by A.M. Best. It is licensed to write workers' compensation policies in more than 35 states. MEMIC Indemnity Company is rated “A-” (Excellent) by A.M. Best. Maine Employers' Mutual Insurance Company (MEMIC), based in Portland, Maine, is Maine's largest and leading workers' compensation insurer. The company is rated “A” (Excellent) by A.M. Best. The MEMIC Group provides coverage to more than 20,000 employers and their estimated 200,000 employees. 

About John T. Leonard

John is president and CEO of MEMIC and a native of Albany. Born and raised in New York's historic capital, he is a graduate of both Christian Brothers Academy and Siena College.

He began with MEMIC in 1993, the company’s first year, after a 27-year career with The Travelers, where he led the Commercial Lines Agency Marketing and Underwriting Division.

John is past Chairman of the Board of ACORD, the global standards setting organization serving the insurance industry, and currently serves on its Executive Committee and as Chairman of its Audit Committee. He is a former President of the American Association of State Compensation Insurance Funds (AASCIF) and Chairman of its Executive Committee. AASCIF members write approximately $17 billion annually in workers’ compensation premium throughout Canada and the U.S. He also serves on the Board of Directors for the National Council on Compensation Insurance (NCCI) and is a member of its Finance Committee. John also served as a member of the National Workers’ Compensation Reinsurance Pool Board.

John is a former Trustee of the Portland Symphony Orchestra (PSO) and is now a member of the PSO’s Advisory Board. He also served nine years on the Board of Trustees for Mercy Hospital and the Mercy Health System of Maine.

Currently, he is on the Boards of Directors of MEMIC, MEMIC Indemnity Company, the Maine State Chamber of Commerce and the Pine Tree Council of the Boy Scouts of America. He received the Distinguished Citizen Award presented by the Pine Tree Council in 2001, and in 2003 was inducted into the Maine Business Hall of Fame.

He has completed executive development programs at Penn State University, the University of Illinois and the University of Michigan. John is a Chartered Property Casualty Underwriter (CPCU), and later received his certification as a registered representative (stockbroker) completing Series 7 and 24. John is a Trustee of St. Joseph’s College in Maine and serves on the Advisory Board to the University of Southern Maine’s School of Business.