March 15, 2013
MEMIC holds off on rate increase
Maine Employers' Mutual Insurance Co., or MEMIC, announced Thursday it won't increase its workers' compensation insurance rates despite state approval this week for insurers to raise rates 3.9%.
Company President and CEO John Leonard said in a press release that the company, which insures around 60% of the commercial market in Maine, decided to hold off on increases in response to continuing tough economic conditions for Maine companies.
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