MEMIC has grown from its roots in Maine to the leading workers' compensation insurer in Northern New England and is among the nation's fastest growing carriers. Not surprisingly, MEMIC's focus on injury prevention has proven that the best way to keep insurance affordable is to partner with employers and employees to prevent injuries through safety training and best practices. That's why the company's safety experts provide hundreds of hours of free training each year for our policyholders all across Vermont.
Even in the most dangerous occupations, these safety efforts have proven effective in reducing injuries and their associated costs for MEMIC's policyholders. Today, industries such as healthcare and manufacturing provide some of the greatest challenges. In healthcare, for instance, workers suffer the highest rates of musculoskeletal injuries including back injuries, costing U.S. employers an estimated $20 billion annually. MEMIC has invested in safety by providing hundreds of newly designed ErgoSafe® Transfer Gait Belts free of charge to its healthcare facility policyholders, reducing injuries through improved safe patient handling.
Through numerous community partnerships, MEMIC has become an industry leader in the ergonomic revolution to address the most common injuries that come both from repetitive motions and our more sedentary lifestyle. The company employs a team of ergonomists who help customers to better design work to fit the employee. These efforts help workers in a diverse range of industries, including workers in hospitality, food service, and manufacturing.
As MEMIC has grown into The MEMIC Group with $1.2 billion in assets and offices in eight states across the Eastern Seaboard - it has invested heavily in the continued educational development of its employees to provide the best service to their policyholders. A third of MEMIC employees have achieved their Workers' Compensation Professional (WCP®) designation, more than any other company in both percentage and in total numbers. MEMIC also has six times the industry average of Chartered Property Casualty Underwriters (CPCUs).
In addition to top safety experts with decades of real-world experience in industries like healthcare, manufacturing and hospitality, MEMIC has an in-house team of workers' compensation-specific claim specialists and nurses who make sure injured workers get the best care and support so they can return to work, keeping morale high and costs low. This commitment to safety and service has delivered proven results for nearly a quarter century.
And, there is no end in sight. As long as there are workplace injuries to address, MEMIC will continue its mission to reduce the costs and suffering they cause, creating the ultimate win-win for employers and employees alike.
Steve Hansen, CPCU, WCP®