Proudly Taking Of Hawaii
About
HEMIC is a private, for-profit Insurance Company. That is what the legislation intended. As a result, they are not a financial burden to either the State or its taxpayers. They originated in Hawaii’s legislature in response to serious challenges facing our state’s workers’ compensation system.
Our creation as a private, mutual insurance company was a demonstration of innovative leadership in Hawaii: the legislation that enabled our existence represented an unprecedented partnership of private business and government working together to solve a market problem.
HEMIC is Hawaii’s only mutual insurance company. They are owned by our policyholders. So, our interests are aligned with theirs. When they succeed, we succeed, and we share our success with them in the form of policyholder dividends. HEMIC has returned over $25 million in dividends to our policyholders over the past nine years.
Within two years of their creation, they had produced over $10 million in premium revenue. Ten years later they exceeded $100 million in policyholders’ surplus – and were awarded an “A” rating from A.M. Best. Today they are the leading writer of workers’ compensation insurance in the state of Hawaii and are committed to keeping our financial promises for many years to come.
They are proud of their success but are prouder l for helping Hawaii businesses succeed. Their commitment has taken an enormous amount of hard work, but they have always considered the safety and productivity of Hawaii’s economy to be our kuleana – not just our birthright.