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Town Insurance Company Returns Money to Town

CIRMA Member Equity Check Comes from Fewer Accidents, Losses
Posted on: August 2, 2017 - 3:09pm

The Town of East Hartford’s primary insurer, the Connecticut Interlocal Risk Management Agency (CIRMA) presented a check for $28,561, representing East Hartford’s share of a $5 Million Members’ Equity Distribution for 2017. CIRMA is a member-owned and governed organization, pooling risk from municipalities, public schools, and local public agencies. CIRMA typically returns a portion of premiums depending on how much it pays out to all its members in settlements for accidents, workers compensation, and other claims.

“This is welcome news from our friends at CIRMA,” said Mayor Marcia A. Leclerc. “As a large municipality, we obviously are exposed to significant risk which requires insurance for almost all of our assets, from protecting our employees to insuring our large fleet of vehicles. I am glad to hear that careful management by us and our peer towns and agencies has resulted in this money being returned to us. I am also thankful for CIRMA’s prudent financial management and due diligence in ensuring we are properly protected.”

“This year’s Members’ Equity Distribution was the result of excellent operational performance, financial strength, and of the success of our members’ risk management efforts,” said David Demchak, President and CEO, CIRMA. “CIRMA’s mission is to help our members build stronger, safer communities to live, learn, and work in, and the Members’ Equity Distribution program plays a vital role in this effort,” he further noted.

This is CIRMA’s sixth distribution in seven years, with distributions to members now totaling almost $19.7 Million. Last year the Town received $24,300.00, and $18,836 in 2015. In recent years allocations have averaged $20,500.

As a member-owned and governed organization, CIRMA works solely for the benefit of its members. CIRMA is the state’s market leader in municipal insurance, providing both Workers’ Compensation and Liability-Auto-Property coverage to its member municipalities, public schools, and local public agencies.