# MEMIC

> MEMIC is a Portland, Maine-based workers’ compensation insurance group with a policyholder-owned mutual parent. It sells through independent agents and pairs coverage with workplace safety consulting, injury management, return-to-work support and payroll-based premium payments. In January 2026 it acquired The Dakota Group and RAS, extending its reach into the Upper Midwest and Great Plains.

- **Founded:** 1993
- **Headquarters:** Portland, United States
- **Founders:** John T. Leonard (Founding president and CEO; company established through Maine legislation and a board of incorporators)
- **Products:** Workers’ compensation insurance, Workplace safety and loss control, Comp-As-You-Go, MEMIC Express, First Call 24/7 Injury Triage
- **Notable:** 2025 direct written premium of $441.224 million; this is an insurance volume measure, not revenue., 2025 total assets of $1.883331 billion and policyholders’ surplus of $717.824 million., Completed The Dakota Group/RAS acquisition on January 7, 2026.

## Products & services

- **Workers’ compensation insurance** — Employer coverage for occupational injuries, supported by claims handling, medical care coordination and wage-replacement benefits subject to applicable law. Sold through independent insurance agents.
- **Workplace safety and loss control** — Safety consultants, workshops, webinars, ergonomics support and injury-prevention resources.
- **Comp-As-You-Go** — Payroll-based premium payment plan with no premium deposit; annual audit still applies.
- **MEMIC Express** — Small-business workers’ compensation offering with agent tools to rate, quote and issue policies.
- **First Call 24/7 Injury Triage** — Free policyholder service for non-emergency work-related injuries.
- **Policy Portal and First Report of Injury** — Online policy and claim information, loss runs and injury reporting.
- **MEMIC EPLI** — Employment practices liability endorsement introduced in Maine in 2008; standard published pricing is $32 per full-time-equivalent employee annually for a $100,000 limit and $5,000 deductible, subject to eligibility and terms.

## Achievements

- 2025 direct written premium of $441.224 million; this is an insurance volume measure, not revenue.
- 2025 total assets of $1.883331 billion and policyholders’ surplus of $717.824 million.
- Completed The Dakota Group/RAS acquisition on January 7, 2026.
- A (Excellent) financial-strength rating reported for the MEMIC insurance companies.
- October 2026 authorization of a $17 million dividend for more than 17,000 Maine policyholders.

## Latest updates

- **2026-10** — October 15: announced a redesigned website planned for October 21; launch was still forthcoming at the research date.
- **2026-10** — October 7: authorized $17 million Maine policyholder dividend; announcement reports cumulative distributions of $406 million since 1998.
- **2026-09** — Awarded $30,000 to San José State University researchers to study adaptive workplace ergonomics.
- **2026-06** — Recognized Dead River Company for worker safety and employee care, and Melissa Skahan for workforce partnership.
- **2026-01** — Closed Dakota/RAS acquisition; transaction price was not disclosed.

## Links

- Website: https://memic.com
- LinkedIn: https://www.linkedin.com/company/memic/
- Twitter/X: https://twitter.com/memicnews
- Facebook: https://www.facebook.com/MEMICnews/

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Profile page: https://yespress.io/memic
Published by YesPress — https://yespress.io
Last updated: 2026-10-16