Hawai’i’s HEMIC Sets $5 Million Payout to Policyholders
- The Hawaiʻi Employers’ Mutual Insurance Company, Inc. declared a $5 million dividend for qualifying policyholders, which it said is the biggest in the company’s history.
- This payout brings the total of dividends paid to policyholders since 2007 to $53 million.
- The carrier said the dividend reflects steady and stable growth paired with strong policyholder and agent partnerships, and “a diligent focus on performance.
- HEMIC claims to be the largest writer of workers’ compensation in the 50th state.
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Claims Manager Sedgwick Gets New Private Equity Investor
- Sedgwick said it has secured an investment from private equity firm Altas Partners in a transaction that values it at $13.2 billion.
- That’s about two times the $6.7 billion valuation seen in 2018 when Carlyle originally invested.
- Altas has committed to invest $1 billion of equity as part of the transaction, Sedgwick said.
- Sedgwick’s current investors, Carlyle and Stone Point Capital, will stay on and continue to invest in the business.
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Exoskeleton Maker HeroWear Reports Worker Back Injury Data
- HeroWear said that workers wearing exosuits reported no back injuries, citing analysis of worker injury data from over 280,000 hours of work at distribution centers..
- The Nashville firm said the dataset is equivalent to 140 full-time employees working for one year while regularly wearing exosuits, or an estimated 50-60 million lifts by workers.
- Exosuit users reported a 25% decrease in work-related bodily discomfort and a 20% reduction in work-related fatigue on average.
- Prior to the use of the exosuits, the surveyed distribution centers would expect an estimated 10.5 back injuries throughout this period based on historical injury rates.
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