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    November 10, 2019
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WHY CAN MEMIC RETURN $22 MILLION TO 18,000 MAINE EMPLOYERS? $18M $3M Hint: Mutual Is $10M Our Middle Name. Maine Emplayers Mutual Insurance Compony (MEMIC) is a for-profit insurer owned by its policyholders. Our story about shared risks, hard work and P $31M $SM $8M welcomed rewards in the world of workers compensation insurance $14M And since 1998, MEMIChas been returning maney to its Maine pelicyholders in the publc, prvate, and non-profe sectors $10M Wal $7M $23M MEMIC DIVIDEND RETURN $22M &CAPTAL COTRTION HOW DOES A MUTUAL INSURANCE COMPANY WORK? The mutual insurance company is a dlasic American form of corporation dating back to The Phdadelphia Contributonhip a mutul fee inuance company started in 1752 by Benamin Frankin nd his neighbors tht ater incorporaned in 1768 A mual creanes a shaed purpose among ts polcyholder $10M o $74M $5M SBM $28M costofinsurance has drepped by 60 percent. Workforce safety injury management Commission that necommended less confict and the use of changes in the law as well as the formation of MEMIC-aprivate company that would guarantee that all Maine employers could get workers compensation insuance coverage But to succeed, MEMC would have to be more than a guranteed market.it would have to champion a chunge in behavior technology have coetributed to our reputation for helping employers outperferm expectations In our world, inurance h called the spread of enk so no single person employer or business bears the fnancial consequences when a loss occurs in fact propertycaalty inuance alows people to buy homes, cars, start businesses and hire people. Buying insuwance allews people to toke reasenable risks with their money. Without insurance, not much would happen That's a big part of how we makea peo and why this year MEMIC is distributing a record-tying $22 millan dividend to 18,000 Maine palicyholders. That money go back into the Maine economy, ight whene it belongs Ths year's dividend brings the total seturned amount to more than $285 mion Beingamutual insorence company was essential. Al polkyholders would have to share in the isks and ewards of the new company he company lost money BUILDING ON SUCCESS Now fast forward to 1916 when the idea of workers compensation ll policyholders would have to kick in estra to pay the bils. On the other hand if the company made a profit the board of dinectors could declare a Last yea we celebrated our 25th Anniversary and were honoredes the top workers'cempensetion insurance company in the U.S. by ACORD, the global standand setting organication for the insurance industry. We aho were grateful when the Maine Independent Agents insurance became law in Maine around the same time as similar aws were passed in most other saes These laws ensured that dividend for all policyholders empleyees who were injured on the jeb had thelr medical bills andpart o Also asa priate mutual company there would be no taxpayer money ftheir lost wages paid Association votedus their those honors with thousands of caring Maine heir empler for the start-sp and there woald retum employers offering imurance benegavemment guarantees for ofthe Year We sh p the lasses. MEMIC was on its own by wee not sued by theie injuned employees twas called "The Grand Bargain balanced the intenests of inured employees with those of their employers eWl ees ho ve supported a balanced sysem wth a mostimpertant challenge was to reduce the number and sevenity ofworkferce injuries and help those whe were injured to regain thele health aedreture to work as law that was balanced, the Now, as we celebrate the return of anther dividend, please know that you emember though, Maine's sytem fell seerbly out of balance in the early 1990 Injuries were r too frequent Conlicts wee endless Prate inrance companies wok prctices and have helped ger tumed in their licenses. The cost of workers compersation insurance in Maine was more than twice the netional average e he been wrking to get just that better at workforce safety and det oent Why?We mant for inred workers healthy and back to people to go home as healthy as they were when they came to work We want those who are injured to regain their health And, we want to keep putting the dividends of safety back work It's working very wel MEMIC han paid more than 52.5 bilon inworkers eompensation benefes to support injuned workers since paidits frst claim in 1993. Equaly as important though injuries in Maiee have been reduced Bby more then 50 percent and the wththe system near collap then-Governo JohnR Moeman Jworked with the legislatune to lead the state out of criss eto the economy For all those reasons, we reqularly hear from people theoughout the state that say they are proud of MEMIC. All we can say is, the feeling mutual They formed a bi partan ue Ribbon MIC WHY CAN MEMIC RETURN $22 MILLION TO 18,000 MAINE EMPLOYERS? $18M $3M Hint: Mutual Is $10M Our Middle Name. Maine Emplayers Mutual Insurance Compony (MEMIC) is a for-profit insurer owned by its policyholders. Our story about shared risks, hard work and P $31M $SM $8M welcomed rewards in the world of workers compensation insurance $14M And since 1998, MEMIChas been returning maney to its Maine pelicyholders in the publc, prvate, and non-profe sectors $10M Wal $7M $23M MEMIC DIVIDEND RETURN $22M &CAPTAL COTRTION HOW DOES A MUTUAL INSURANCE COMPANY WORK? The mutual insurance company is a dlasic American form of corporation dating back to The Phdadelphia Contributonhip a mutul fee inuance company started in 1752 by Benamin Frankin nd his neighbors tht ater incorporaned in 1768 A mual creanes a shaed purpose among ts polcyholder $10M o $74M $5M SBM $28M costofinsurance has drepped by 60 percent. Workforce safety injury management Commission that necommended less confict and the use of changes in the law as well as the formation of MEMIC-aprivate company that would guarantee that all Maine employers could get workers compensation insuance coverage But to succeed, MEMC would have to be more than a guranteed market.it would have to champion a chunge in behavior technology have coetributed to our reputation for helping employers outperferm expectations In our world, inurance h called the spread of enk so no single person employer or business bears the fnancial consequences when a loss occurs in fact propertycaalty inuance alows people to buy homes, cars, start businesses and hire people. Buying insuwance allews people to toke reasenable risks with their money. Without insurance, not much would happen That's a big part of how we makea peo and why this year MEMIC is distributing a record-tying $22 millan dividend to 18,000 Maine palicyholders. That money go back into the Maine economy, ight whene it belongs Ths year's dividend brings the total seturned amount to more than $285 mion Beingamutual insorence company was essential. Al polkyholders would have to share in the isks and ewards of the new company he company lost money BUILDING ON SUCCESS Now fast forward to 1916 when the idea of workers compensation ll policyholders would have to kick in estra to pay the bils. On the other hand if the company made a profit the board of dinectors could declare a Last yea we celebrated our 25th Anniversary and were honoredes the top workers'cempensetion insurance company in the U.S. by ACORD, the global standand setting organication for the insurance industry. We aho were grateful when the Maine Independent Agents insurance became law in Maine around the same time as similar aws were passed in most other saes These laws ensured that dividend for all policyholders empleyees who were injured on the jeb had thelr medical bills andpart o Also asa priate mutual company there would be no taxpayer money ftheir lost wages paid Association votedus their those honors with thousands of caring Maine heir empler for the start-sp and there woald retum employers offering imurance benegavemment guarantees for ofthe Year We sh p the lasses. MEMIC was on its own by wee not sued by theie injuned employees twas called "The Grand Bargain balanced the intenests of inured employees with those of their employers eWl ees ho ve supported a balanced sysem wth a mostimpertant challenge was to reduce the number and sevenity ofworkferce injuries and help those whe were injured to regain thele health aedreture to work as law that was balanced, the Now, as we celebrate the return of anther dividend, please know that you emember though, Maine's sytem fell seerbly out of balance in the early 1990 Injuries were r too frequent Conlicts wee endless Prate inrance companies wok prctices and have helped ger tumed in their licenses. The cost of workers compersation insurance in Maine was more than twice the netional average e he been wrking to get just that better at workforce safety and det oent Why?We mant for inred workers healthy and back to people to go home as healthy as they were when they came to work We want those who are injured to regain their health And, we want to keep putting the dividends of safety back work It's working very wel MEMIC han paid more than 52.5 bilon inworkers eompensation benefes to support injuned workers since paidits frst claim in 1993. Equaly as important though injuries in Maiee have been reduced Bby more then 50 percent and the wththe system near collap then-Governo JohnR Moeman Jworked with the legislatune to lead the state out of criss eto the economy For all those reasons, we reqularly hear from people theoughout the state that say they are proud of MEMIC. All we can say is, the feeling mutual They formed a bi partan ue Ribbon MIC