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New Haven, July, 2018. The Connecticut Interlocal Risk Management Agency presented Honorable Thomas Banisch , First Selectman of the Town of Madison, with a check for $66,293, their prorated share of CIRMA’s $5 million Members’ Equity Distribution for 2018. This is CIRMA’s seventh distribution of Members’ Equity made in the past eight years, for a total of nearly $25 million.
“The partnership and risk management efforts of our members are a sustaining force behind CIRMA’s outstanding financial strength, growth in service programs, and our ability to deliver a Members’ Equity Distribution Program. Working together, we are making our communities better and safer places to live, learn, and work in,” said David Demchak, CIRMA President and Chief Executive Officer.
With 379 members, CIRMA is the leading provider of Workers’ Compensation and Liability and Property coverage to local public entities in Connecticut.
Barbara Henry, First Selectman of Roxbury and CIRMA’s Chairman of the Board, said “CIRMA’s Members’ Equity Distribution program, outstanding rate stability, and many tailored programs are what make CIRMA membership a tremendous value to our members.”
As a member-owned and governed organization, CIRMA stands as one of the most successful state-wide collaborative efforts between Connecticut municipalities, school districts, and local public agencies. During a time of continued fiscal stress for many municipalities, CIRMA’s Members’ Equity Distribution program is one of the most visible and impactful outcomes of its mission-based focus.
For more information about CIRMA’s Members’ Equity Distribution Program, please visit www.CIRMA.org/About CIRMA/Members’ Equity Distribution Program.
CIRMA, owned and governed by its members, operates two risk-sharing pools: the Workers’ Compensation Pool and the Liability-Automobile-Property Pool. It also provides risk management services to self-insured municipalities and local public agencies.
CIRMA is the municipal market leader in Connecticut. CIRMA’s membership includes over 85% of the state’s municipalities and has premiums of $97 million, Members’ Equity of over $140 million, and Assets of over $400 million. Visit CIRMA.org/Our Members for a listing of CIRMA member municipalities and public schools.