CIRMA New Risk Management & Insurance Solutions For CIRMA Members Backed by CIRMA’s financial strength, its consultative approach creates holistic solutions for Connecticut cities and town
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IRMA’s growth in financial strength, expanded programs and coverages, and outstanding rate stability, make CIRMA a standout for the value it offers its members. CIRMA’s ability to transform its service and coverage programs into powerful solutions through its consultative, holistic approach allows CIRMA members to focus their energy on what is most important — building safer, better communities to live, learn and work in. CIRMA delivers outstanding rate stability: 0% LAP and –5% WC. “CIRMA takes much of the uncertainty out of the insurance purchasing processes by providing clarity, predictability, and transparency to the associated costs,” said David Demchak, President & CEO.
Guaranteed cost and loss sensitive programs for Workers’ Compensation Whether a municipality requires the premium stability afforded under a traditional Guaranteed Cost program or chooses to retain risk under one of CIRMA’s large deductible options or loss sensitive programs. CIRMA’s options provide its members the flexibility to better manage their insurance costs and mitigate risk. Its loss sensitive programs are tailored for larger cities and towns that are looking to lower their upfront premium costs and that are able to manage their losses effectively by implementing strong risk management techniques.
CIRMA’s rate stabilization programs provide its members the flexibility to better manage their insurance costs and mitigate risk.
One of the biggest challenges facing Connecticut communities is funding, and the volatility that changes in funding bring to the municipal budgeting process. “CIRMA has been able to provide outstanding rate stability to our members over the past ten years, and we’re delivering on that mission again this year,” said David Demchak, President and CEO of CIRMA. CIRMA’s Liability-Auto-Property (LAP) pool rate need for 2018-19 is flat, 0%. And its Workers’ Compensation pool rate need is –5%! Rate stabilization programs for the Liability-Auto-Property pool More municipalities than ever — about 80% of its LAP members — will be participating in the CIRMA LAP Rate Stabilization program in 2018-19. These members benefit by being able to confidently budget for their property and casualty insurance costs over the length of the three year agreement.
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For those municipalities who are confident that they can manage their exposures effectively, loss sensitive programs are a effective way to lower their upfront premium costs by retaining risk.
Value-added coverages, risk management, and claims solutions “The municipal environment changes everyday, and CIRMA is changing with it. We’re developing innovative solutions to meet our members’ needs for 2018-19 and beyond,” said Demchak. CIRMA’s tailored coverage programs, including its newly enhanced K-9 officer, pollution, drone, and cyber coverages, financially protect municipalities and public schools against their unique exposures. Several years ago, CIRMA members indicated interest in the scheduling flexibility and convenience of on-line learning. CIRMA responded by developing its E-Learning Center, which expands on CIRMA’s already extensive instructor-led training and education program.