MEMIC Insurance Company Review 2025
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Cara Carlone is a licensed P&C agent with 20 years of experience. She has her P&C license in RI and TX and holds CPCU, API, and AINS designations.
Trusted Choice's Maine Employers' Mutual Insurance Company (MEMIC) Insurance Score
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3.25 Stars
We award MEMIC insurance company a final rating of 3.25 out of 5 stars. Its high rating from AM Best speaks to its financial strength, one of the most important factors in choosing an insurance company.
The carrier also has a high Better Business Bureau (BBB) rating but is not BBB-accredited. The MEMIC Group and its individual components, including Maine Employers’ Mutual Insurance Company (MEMIC), MEMIC Indemnity, and MEMIC Casualty Company, are rated "A" (excellent) by AM Best.
The carrier provides workers’ compensation insurance for employers in Maine and in 45 additional states. It has been instrumental in improving the workers’ compensation market in Maine and has received several awards and accolades for its innovations, customer service, and brand reputation.
Maine Employers' Mutual Insurance Company (MEMIC) was founded in 1993. With its private structure and policyholder governance, MEMIC serves as a competitive force within the workers' compensation insurance market. The company promises to respond to and pay claims quickly, and it offers a variety of ways to report injuries, including a 24/7 online claims portal. It also has a robust social media presence.
By creating a loss control department that stressed safety training, as well as launching an ongoing "Partnership for Workplace Safety" public awareness campaign, MEMIC helped lead the way to cultural change in Maine's workplaces.
The company's treatment of injured workers is another MEMIC hallmark. By working to resolve disputes between employers and employees, ensuring appropriate medical care for injured workers, and making timely payments for indemnity benefits, the company has become a leader in the area of medical case management and return-to-work strategies.
In 2010, the company earned attention as the best commercial insurer in the nation for its customer service. In 2018, ACORD ranked MEMIC the top workers' compensation company in the U.S. based on strong financial performance and measurable, superior capabilities in customer experience, employee satisfaction, and brand reputation. Overall, we recommend including MEMIC when looking into options for a trusted workers' compensation insurance carrier with your independent insurance agent.
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To find insurance in your state, use our national insurance company directory to find the best company to meet your needs. You can locate insurance companies that specialize in your specific coverage needs and get connected to an agent near you.
MEMIC Insurance Products by Type
MEMIC is licensed to serve employers in 46 states. The company exclusively offers workers’ compensation insurance.
Using our insurance company directory can help you find the best insurance companies that specialize in your specific coverage needs. The company directory can also help you get connected to an agent near you.
MEMIC Workers' Compensation Insurance Average Prices
MEMIC does not publish its average workers' compensation insurance rates because pricing varies so widely depending on the employer, the type of employees insured, and annual payroll rates. An independent insurance agent can help you get a quote for workers' comp coverage from MEMIC. To get a better idea of how much a policy might cost your business, you can also use our workers' compensation calculator.
What Discounts Does MEMIC Offer?
MEMIC does not make information about its specific discounts or reward programs available. An independent insurance agent can help you find ways to save on your workers' compensation insurance.
MEMIC Customer Service
Employers and employees can contact MEMIC in the following ways:
- Phone
- Fax
- Snail mail
- Online portal access
Customer service phone department hours are not specified:
Days | Hours (EST) | ||
Monday-Sunday | NOT SPECIFIED |
If you need help with your MEMIC workers’ compensation policy, contact the independent insurance agent who helped you purchase your policy. Agents have access to QuickComp, an online agent support tool that gives your agent 24-hour access to your policy information.
MEMIC Insurance FAQs
If you’re an employee filing a claim with MEMIC, generally, you will hear from a MEMIC claim handler in 24 hours, gathering information about your injury. The number of days MEMIC has to review your claim is stipulated by state law, but many determinations about acceptance are made within a few days. MEMIC does not publish an average claim response time frame.
MEMIC offers customer service by phone, with no published business hours. Customers can also reach the insurance company by phone, fax, email, and via Facebook, X, LinkedIn, and Instagram. Employers can get 24-hour access to policies, including claim information, loss runs, policy details, and for Maine businesses premium billing and dividends. Agents have access to QuickComp, an online agent support tool that gives your agent 24-hour access to your policy information.
Employers should report an injury to MEMIC as soon as possible after an employee injury. All claims should be reported to MEMIC within 24 hours of your notice or knowledge of the injury. After an injury is reported, the employee will be assigned a claim handler. Typically, each state sets a time frame of the number of days MEMIC has to conduct a thorough investigation of the claim before it makes a decision to either pay or deny the claim.
MEMIC's website is a bit confusing and does not provide much detail for prospective customers. The carrier's social media presence is also fairly limited and specific phone department hours are not published. Overall, MEMIC falls a bit short in the user-friendliness department.
MEMIC focuses on safety training in addition to providing workers’ compensation insurance. By working to resolve disputes between employers and employees, ensuring appropriate medical care for injured workers, and making timely payments for indemnity benefits, the company has become a leader in the area of medical case management and return-to-work strategies.
Since MEMIC's founding in 1993, lost-time injuries in Maine have been reduced by 50%. The overall cost of work comp insurance in Maine has been reduced by about 60%, and MEMIC has remained the leader in workers’ compensation insurance in the state, insuring more than 60% of the state’s insured employers.
MEMIC is also seen as a work comp innovator. In 2008, the carrier became the first company to introduce employment practices liability insurance (EPLI) as an endorsement to its workers’ compensation policies. EPLI protects employers from lawsuits claiming wrongful termination, retaliation, failure to employ or promote, sexual harassment, and discrimination related to gender, age, race, or disability.
MEMIC has received high ratings from AM Best and the BBB and is an expert in providing workers’ compensation insurance to employers in Maine and many other states. Since its inception, the company has had a positive impact on the workers’ compensation market in Maine. The company has also received awards and accolades for its innovative approach to workers’ compensation and for providing excellent customer service. Overall, MEMIC can be considered a good insurance company.
MEMIC's insurance products may be right for businesses seeking workers' compensation insurance. Coverage is available in Maine and 45 other states.
https://www.memic.com
https://news.ambest.com/newscontent.aspx?refnum=258083&altsrc=23
https://www.bbb.org/us/me/portland/profile/insurance-companies/maine-employers-mutual-insurance-company-0021-51108