Hawaii employers insurance company to pay $3M dividend
The Hawaii Employers’ Mutual Insurance Co. Inc., the state’s largest provider of workers’ compensation insurance, has declared a $3 million dividend payable to qualifying policyholders.
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The Hawaii Employers’ Mutual Insurance Co. Inc., the state’s largest provider of workers’ compensation insurance, has declared a $3 million dividend payable to qualifying policyholders. This is the 10th consecutive year that HEMIC’s board has authorized a multimillion-dollar dividend and, relative to earnings, is the highest dividend share declared to date. With this dividend, HEMIC will have returned more than $28 million to Hawaii businesses over the past 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.
“As a mutual insurance company, we are owned by our policyholders, so our goals and interests are directly aligned with theirs,” HEMIC Chief Executive Officer Martin Welch said. “This dividend declaration underscores how investing in workplace safety is good for employees and good for employers’ bottom line.”
Jason Yoshimi, president and chief financial officer of HEMIC, said the company estimates 80 percent of its members will receive a dividend.
HEMIC provides coverage for more than 6,000 businesses and 75,000 workers across the state.