$2 Million Dollars To Be Distributed To All Policyholders
NEWS RELEASE — As Hawai`i begins the road to recovery, workers’ compensation carrier HEMIC announces a new financial relief program to help Hawai`i businesses.
HEMIC’s COVID-19 Workers’ Compensation Premium Relief Program will provide $2 million dollars in financial relief to HEMIC policyholders, in the form of a premium credit. All HEMIC policyholders automatically qualify for this program: No application is required and no action is necessary on their part. The premium relief distribution will be credited to policyholders’ accounts by the end of July.
“As a mutual insurance company, HEMIC’s dedication to our policyholders’ success is in our DNA,” said Marty Welch, Chief Executive Officer of HEMIC. “From the first days of the COVID-19 impact on our islands, HEMIC has been committed to addressing the evolving needs of our policyholders during this challenging time.”
“We hope this $2 million program will help provide immediate relief at a time when it is needed most, will help business owners recover, and in turn, will support Hawai`i’s overall economic recovery. ”
In addition to providing financial relief, HEMIC’s underwriting and servicing teams are assisting policyholders as they address issues such as returning employees to the workplace safely, validating employee job descriptions and adjusting their business models.
HEMIC is the State of Hawai`i’s leading workers’ compensation insurance company, caring for more than 7,000 businesses and 75,000 workers across the Hawaiian Islands. HEMIC is a mutual insurance company and has returned more than $38 million dollars in dividends to its policyholders over the past thirteen years. 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 (EPIC) provides temporary disability insurance (TDI), while HEMIC Insurance Managers, Inc. (HIMI) brokers all other lines of commercial business insurance, provides multi-line TPA services to self-insured entities and captive insurers, and offers risk management consulting services.