MEMIC’S New Deductible Plan Takes Premium Pain From Industry


Portland,ME( – The MEMIC Group, specialists in workforce safety, is rolling out new workers’ compensation insurance products aimed at reducing companies’ out-of-pocket expense while helping them build a culture of safety.

Taken together, the MEMIC Advantage plans are geared to help policyholders interested in protecting workers while freeing up cash flow once reserved for workers’ compensation premiums.

“MEMIC Advantage is a large deductible product for companies in the middle- to upper-middle market space that want to take some risk and achieve savings but don’t want the hassle of a self-insured program or perhaps have concerns about the potential downside of a traditional deductible program,” MEMIC Senior Loss Sensitive Underwriter Sunny Jarrard said.

“We sat down with our agents and asked, ‘What can we do better?’,” Jarrard said. “One of the biggest things was to put a cap on the worst-case scenario for companies so it isn’t as intimidating for them to take risk. That’s what we’ve done. It’s really a win-win for everybody, in our minds.”

The program is geared toward companies currently paying more than $250,000 annually in premiums interested in taking on more risk to reduce their workers’ compensation spend.

“Deductible credits can often cut premiums by more than half, giving the insured an opportunity to really control their costs by preventing and managing their claims,” Jarrard said, noting MEMIC’s reputation for helping companies instill safety measures that can limit the number, duration, and cost of injuries to their workers.

“We get our Loss Control consultants involved right away. Even before they meet the client, they’re engaged in the underwriting process,” she said. “It’s the beginning of a relationship. We’re setting the expectation of, ‘Here are the things we’ve identified already,’ so everyone understands what it is we’re there to do whenever coverage becomes effective.”

Companies that have tolerance for risk, favorable loss history, and dedicated to reducing their numbers of claims, are invited to inquire about MEMIC Advantage by calling (603) 314-0653 or visiting


The MEMIC Group includes MEMIC Indemnity Company, MEMIC Casualty Company, and parent company Maine Employers’ Mutual Insurance Company; all rated “A” (Excellent) by A.M. Best. The MEMIC Group holds licenses to write workers’ compensation across the entire country. The group insures and serves more than 20,000 employers and their estimated 300,000 employees with dedicated safety and injury management service teams from Maine to Florida.

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