The ACCG - Interlocal Risk Management Agency (IRMA) Board of Trustees, which oversees the member-owned property and liability insurance pool for the association, recently voted to return a dividend in the amount of $1.75 million.  This marks the ninth consecutive year that the program has returned a dividend, which is intended to benefit the long-term participants of the insurance program. 

 

According to Charlie Newton, McDuffie County Chairman and Chairman of the ACCG-IRMA Board of Trustees, the $1.75 million dividend equals one of the largest in the program’s 24-year history.  The dividend will be returned in the form of a premium credit to members that have participated in the program since the October 1, 2002 – 2003 policy period.  Total dividends returned to the membership since 1997 total $13.6 million dollars.

 

David A. Paulk, ACCG Director of Risk Management & Insurance, reports that the property and liability insurance fund is well capitalized, despite current economic conditions.  According to Paulk, “The fund has always operated very conservatively, which has served the membership well, especially during times when the financial markets have been so volatile.  This allows us to return a dividend at a time when our county government membership needs it the most.” 

 

ACCG - IRMA is a non-profit, member-owned property and liability insurance pool designed to meet the insurance needs of Georgia county governments.  ACCG - IRMA was established in 1987 and currently has 152 members, comprised of Georgia counties and authorities.  ACCG - IRMA’s assets are currently $97.5 million. 

 

“The ACCG Insurance Program continues to offer a stable source of insurance, with unsurpassed claims service, to our membership,” said ACCG Executive Director Ross King.  “ACCG insurance programs are a valuable benefit available to Georgia counties and authorities.”

 

For information on ACCG-IRMA, please contact Ben Pittarelli at (404) 522-5022.