Report by Paula Antolini, July 24, 2019, 3:24PM EDT
(Bethel, CT – July 23, 2019) The Town of Bethel has been awarded an equity distribution in the amount of $72,933 from the Connecticut Interlocal Risk Management Agency (CIRMA), the town’s property, liability and workers compensation insurance carrier. CIRMA, which is part of the Connecticut Conference of Municipalities, is a member-owned non-profit insurance cooperative that provides key insurance products to member municipalities. Annual equity distributions to CIRMA member towns are based on cost control and investment performance. To date, the Town of Bethel and the Bethel Board of Education have received over $282,000 in member equity distributions since the program began in 2011.
In addition to the equity distribution, the Town also earned a 5% reduction on its worker’s compensation premium for the 2019-2020 fiscal year, which equates to a cost reduction of about $45,800 in the current town budget. Bethel’s First Selectman Matt Knickerbocker credited the drop in insurance premiums as a result of the Town’s newly formed Risk Management Program, begun in 2018. As part of the program, all workers who work out of doors and with heavy equipment participate in regular safety instruction seminars as well as observation and analysis of work practices by CIRMA ergonomics experts.
“Our new risk management program does not simply ask employees to be careful,” Knickerbocker said. “Our department heads take an active role in safety training and fine tuning work practices to ensure the safety of our employees. This is good for them, obviously, and it is also good for taxpayers by reducing medical costs and lost work days due to on-the-job injuries.”
“Our new risk management program does not simply ask employees to be careful,” Knickerbocker said. “Our department heads take an active role in safety training and fine tuning work practices to ensure the safety of our employees. This is good for them, obviously, and it is also good for taxpayers by reducing medical costs and lost work days due to on-the-job injuries.”
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“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.”
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 and click on “About CIRMA”.
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About CIRMA
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.
Connecticut Interlocal Risk Management Agency
545 Long Wharf Drive, 8th Floor
New Haven, CT 06511
www.CIRMA.org
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