HEMIC Announces $4 Million Dividend for Policyholders

HONOLULU - Sept. 11, 2023 - PRLog -- The Board of Directors of Hawaii Employers' Mutual Insurance Company, Inc. (HEMIC) is pleased to declare a $4 million dividend to qualifying policyholders, marking 17 consecutive years of policyholder dividends. With this declaration, HEMIC will have returned over $48 million to Hawai'i policyholders in dividends and pandemic Premium Relief funds, since issuing their first dividend in 2007.

This year's dividend reflects HEMIC policyholders' ongoing recovery from pandemic challenges along with the diligent collaboration between HEMIC, agents, and policyholders to drive safety and service.

"This milestone would not be possible without the tireless efforts of our team members on the front lines and behind the scenes, and the true partnership of our policyholders" said HEMIC Chief Executive Officer Martin Welch.
"It is from a shared commitment to excellence and community that we continue to move forward, together, even in uncertain times. I am grateful for our dedicated team and our loyal customers."

As Hawai`i's only mutual insurance company, owned and governed by its policyholders, HEMIC is dedicated to their well-being and safety. "One way we embody our commitment to policyholders is through our dividend program. Enabled by our conservative, diversified capital management, the dividend program demonstrates our shared goal of safer workplaces and rewards policyholder success," said Jason Yoshimi, HEMIC President and CFO.

To qualify for a dividend, policyholders must be insured with HEMIC for more than one consecutive policy term and demonstrate a commitment to safety.

HEMIC is mindful of the devastating impacts the recent wildfires have had on the community – many of whom are HEMIC policyholders. "During this profound loss to Maui and the Hawai'i community, we stand together with all who support our Maui `ohana," shared Welch. "Through the HEMIC Foundation we're giving to the Maui Strong Fund as well as matching our employees' contributions. We encourage anyone who can to donate time, money, or resources to aid Maui's recovery."

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About HEMIC

HEMIC is the State of Hawai`i's leading workers' compensation insurance company, caring for more than 6,700 businesses and 75,000 workers across the Hawaiian Islands. HEMIC is rated "A" for financial strength by AM Best.

An expert in safety, HEMIC helps employers prevent workplace injuries as well as care for injured workers. HEMIC has two wholly owned subsidiaries to help businesses with their additional insurance needs:  Employers' Protective Insurance Company, Inc. (EPIC) provides temporary disability insurance (TDI) and HEMIC Insurance Managers, Inc. (HIMI) brokers other lines of commercial business insurance, offers risk management consulting services, and provides multiline third-party administrator services to self-insured and captive entities.

To learn more about the HEMIC Family of Companies, please visit https://www.HEMIC.com.