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CIRMA issues Members’ Equity Distribution check to the Town of Madison and Madison Board of Education
New Haven, July, 2019. The Connecticut Interlocal Risk Management Agency presented Honorable Thomas Banisch, First Selectman of the Town of Madison, with a check for $67,807, their prorated share of CIRMA’s $5 million Members’ Equity Distribution for 2019. The Town of Madison and Madison Board of Education has received $421,031 in distributed Members’ Equity since the program began in 2011. This is CIRMA’s eighth distribution of Members’ Equity made in the past nine years, for a grand total of nearly $30 million across its entire membership.
“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 371 members, CIRMA is the leading provider of Workers’ Compensation and Liability and Property coverage to local public entities in Connecticut.
CIRMA’s Chairman of the Board, Jayme Stevenson, First Selectman of Darien, said “CIRMA continues to achieve its mission by providing Connecticut municipalities with rate stability, outstanding risk management programs and tremendous value to our members.” First Selectman Banisch is Vice-Chair of CIRMA’s Board and a member of CIRMA’s Risk Management Committee.
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.
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.