ME Workers Comp Information
Get the latest state news and information about Maine workers compensation insurance.
Maine partners with the National Council on Compensation Insurance (NCCI). NCCI gathers data, analyzes industry trends, and prepares objective insurance rate and loss cost recommendations. NCCI is the nation’s most experienced provider of workers compensation information, tools, and services. Maine uses NCCI to determine rates on workers' compensation coverage only. Not to administer the assigned risk for the state.
The assigned risk provider for the state of Maine is Maine Employers Mutual Insurance Company (MEMIC). MEMIC is a private company that serves as the guarantor of workers' compensation insurance for Maine companies. With its private structure, MEMIC serves as a competitive force within the workers' compensation insurance market. This prevents Maine employers from having even higher rates for coverage. If your business for any reason cannot find coverage on the open market the assigned risk will offer coverage. Coverage in the assigned risk is normally higher than the open market.
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About Workers Compensation in Maine
Maine Workers' Compensation Board
27 State House Station Map It
Augusta, ME 04333-0027
State Fund to Pay Dividends in 2016
Maine employers will receive $18 million in dividends from Maine Employers' Mutual Insurance Co. (MEMIC). The dividends are because of results from the states workplace safety program. This dividend will benefit more than 17,000 employers. Saving them an average of more than $1,000 per employer.
What is Workers' Compensation?
The basic purpose of the Workers’ Compensation is to provide wage replacement benefits and medical treatment for employees who have been injured or become ill due to a work-related injury or illness. It prevents the employer from bearing the costs of injuries that occur during normal business operations.
Maine Employers Mutual Insurance Company (MEIC)
The assigned risk provider for the state of Maine is Maine Employers Mutual Insurance Company (MEIC). MEIC is a private mutual insurance company that opened for business in January 1993. MEMIC originated as part of the landmark 1992 reforms of Maine workers' compensation law passed by the Maine Legislature. MEMIC was started as a private company that would serve as the assigned risk provider and to compete with the open market in an attempt to drive down prices for Maine employers.
How does workers comp help my business?
Your business benefits from workers' compensation coverage, by not being liable for injuries that occur as a part of normal business operations. This applies whether the injury was the fault of the business or was caused by negligent actions of the employee. You can move forward with your business operations knowing that if one of your employees is injured because of something that happens as a normal part of your business operations, your business is not liable for the costs.
Maine is an NCCI state
MEMIC is the assigned risk provider, but Maine also partners with the National Council on Compensation Insurance (NCCI) to determine rates for workers' compensation insurance. NCCI gathers data, analyzes industry trends, and prepares objective insurance rate and loss cost recommendations. NCCI is the nation’s most experienced provider of workers compensation information, tools, and services.
How does workers comp help my employee?
Employees benefit from workers comp coverage by having lost wages covered while they are hurt or sick and not able to work. It also pays for medical costs they might incur as a result of the sickness or injury.
More Programs and Options
We're always working with our insurance carriers to develop specialized programs for a broad range of industry class codes. Our Target Programs are designed to streamline the underwriting process and help ensure we offer the lowest rates available anywhere.
- Home Healthcare
- Janitorial Services
- And More
Workers Compensation Help?
- What is Workers Compensation?
- The Basics of Workers Comp
- Workers Compensation Q and A?
- Insurance Laws for Work Comp
- Managing Policy Claims
- Getting Work Comp Benefits
- NCCI Classification Codes
- Experience Modifiers and Ratings
- State Fund Coverage
- Workers Compensation Forms
- Handling Workers Comp Audits
- Understanding an Employer Liability Policy
- Excluding Owners and Officers
- Other States Coverage
Maine Work Comp Information
Maine Work Comp Penalties
Maine has some significant penalties for companies who fail to comply with mandatory coverage. Failure to provide proper coverage can be considered a Class D crime and subject to a civil penalty of up to $10,000 or an amount equal to 108% of the premium that should have been paid during the period the employer failed to secure coverage (whichever is larger).
Let Workers Compensation Shop.com help your business navigate workers comp insurance in Maine.
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