Your Risk Management
In today's complex
economic times, IRMA offers public entities an
extraordinary opportunity to stabilize costs, reduce risk and better
their constituencies. As a member-owned, self-governed public
we exist solely to provide high quality risk management
substantial savings to municipalities like yours. We have
championing our members' needs for over thirty years and are
one of the nation's most highly regarded risk pools.
moment to discover what IRMA can do for you.
The Value of IRMA
Money matters at IRMA and members benefit financially in myriad
ways, among them:
- A full spectrum of services to manage risk and prevent loss.
As a result, members' claims frequency has been reduced
during the past five years.
- Surplus revenue is returned to members, not private owners
or stockholders. Since 1989, the pool has given back over
$87M in interest income credits to members.
- Administrative costs are 9%-11% versus an estimated 25%
- IRMA's pricing averages more than 35% less than the
commercial market according to the 2014 JLT Towers Re
Insurance Market Comparison Study.
- Members have access to grants, awards, sample best practice
policies and valuable online
services such as Police Law
Institute courses and supervisor training through My Community
Workplace at no additional cost.
Our Advantage is Your Advantage
Our risk sharing pool
is "by the people, for the people." Professionally
managed for the benefit of its members, IRMA is dedicated entirely
to addressing the risk management needs of local governments like
yours. As a group, spreading and sharing the cost of risk with other
high performing local governments, IRMA members gain many
valuable advantages such as:
- Customized public entity coverage that exceeds the
offerings of commercial carriers and is one of the most
comprehensive programs available anywhere.
- Long-term stability of pricing and membership. The IRMA
contribution rate has decreased by more than 25% since 2009,
and of the 93 public entities that
participated in IRMA
since 1979, 69 remain members
- Flexible deductibles up to $250,000.
- Exceptional in-house claims department that responds to
members' needs beyond short term cost considerations, and
is willing to defend rather than settle when warranted.
- Litigation team comprised of experienced, proven trial
attorneys specializing in municipal defense.
- Extensive high quality risk management services including a
comprehensive risk management program evaluation,
consulting services, on-site inspections and training, and
expansive regional training
It is because of the participation and guidance of our members that
continues to be one of the most distinguished public risk pools
state and nation. With a delegate from each entity sitting on
of Directors, members have a direct voice in shaping the
procedures that help create success for all. We would
opportunity to discuss further the many ways IRMA
can assist you in
building and sustaining public confidence in your
entity, and encourage
the progress that enables your town to thrive.