MEMIC Announces $17M Dividend

The board of directors for Maine’s MEMIC authorized a $17 million dividend for about 14,000 policyholders. The average dividend will be $1,180, and more than two dozen employers will receive checks for more than $40,000, the carrier announced. MEMIC said in a statement that the dividend represents about 12% of earned premium in 2019. “Had Maine employers not been diligent in following state CDC guidance, this dividend might not have been as large. I truly applaud them and the state’s leadership in effectively communicating and taking difficult measures to keep us all as sa...