ACCG Property & Liability Program Announces Another $3.25 Million Dividend
Print this Article | Send to Colleague
The ACCG – Interlocal Risk Management Agency (ACCG-IRMA) Board of Trustees, chaired by Oconee County Chairman John Daniell, voted to release another dividend of $3.25 million to the ACCG-IRMA members for the policy period beginning July 1, 2021. Any county or authority that has continuously participated in this non-profit, group self-insured property and liability program since October 1, 1996 will receive a portion of the dividend. The dividend decreases the average member’s renewal contribution (premium) by 9%.
ACCG-IRMA has provided coverage and risk management services to its Georgia counties and authority members since 1987, after commercial insurance companies raised premiums and/or declined to write public entity business altogether in the 1980s. The program continues to be financially strong and offers services that are typically not available in the commercial market, such as a Human Resources Helpline and Crisis Management Services.
Due to increased property, auto, and law enforcement liability claims over the last few years, an overall 2.8% rate increase is needed to cover expected costs for the 2021 policy period that begins July 1. This is substantially less than what is being seen in the commercial market. Each ACCG-IRMA member is rated individually, so a county with less than expected historical losses will receive a smaller increase or, in some cases, a decrease. Those counties with a large volume of claims or an increase in exposures could see larger increases. Renewal quotes will be released in early June.
ACCG-IRMA began with an initial membership of 14 counties. Today, it provides property and liability coverage to approximately three-fourths of Georgia’s counties, more than all other insurers combined. Counting this year’s dividend, ACCG-IRMA has returned over $41 million in dividends to its members since the program began.
If you would like more information of the ACCG Property and Liability program, please contact Joe Dan Thompson at (404) 589-7862, or any member of the ACCG Insurance team. Additional information can be found at www.accg.org/insurance.
