ACCG-IRMA Serves Its Purpose in Hard Property & Liability Market
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The ACCG – Interlocal Risk Management Agency is pleased to announce that all 177 members renewed their property and liability coverage and services on July 1, 2022. This year’s renewal was challenging due to increased claims, but it was better than what the commercial insurance market could provide for public entities. Not since the 1990s have public entities faced such a hard insurance market.
Inflation, the higher cost to repair/replace more expensive vehicles, labor shortages, and supply chain issues are among the high-level market drivers impacting the 2022 insurance renewal cycle. Social inflation, nuclear verdicts, and judicial rulings are also of concern, so public entities should prepare for increases in their property and liability renewals and/or changes in deductibles and/or limits. Some carriers are no longer writing public entity business or are no longer offering certain coverages, such as cyber or law enforcement liability.
This serves as an excellent reminder of just why ACCG-IRMA was formed back in 1987. Over the past 35 years, this nonprofit program has provided a stable, cost-effective source of specialized property and liability insurance coverages and services for Georgia county governments. In fact, this year, the ACCG-IRMA Board of Trustees declared a $1,000,000 rate credit on top of a $3,250,000 dividend to help decrease the necessary member contributions for the 2022 policy period.
ACCG-IRMA provides numerous risk management services to its members as well. Property appraisals are conducted every five years where professionals collect detailed information on the members’ structures to allow for better underwriting information and better rates. Support is also provided to members through ACCG-IRMA’s HR Legal Service, Crisis Risk Management, and Cyber resources. Extensive loss prevention services are provided by ACCG-IRMA’s risk control organization, Local Government Risk Management Services (LGRMS).
Counties who are not current members of ACCG-IRMA should not wait until the last days to review their upcoming renewals. Their local agents/brokers should be able to advise what to expect on renewals at least 30 days prior to the renewal date. If you have any questions or would like to obtain a quote from ACCG-IRMA, please contact Joe Dan Thompson at 404-589-7862 or jthompson@accg.org.
2022 Employee Safety Grant Application Deadline: July 31
Eligible Members of the ACCG Workers’ Compensation Program should apply for their portion of $500,000 in Employee Safety Grant funds this month. This grant program was authorized by the ACCG Workers’ Compensation Board of Trustees in 2018 to provide financial assistance to program members for the purpose of reducing employees’ work-related injuries.
The requirements are simple and examples of eligible requests include personal protective equipment, body armor, fire department turnout gear or washers/dryers for gear, ergo equipment, first aid equipment such as AEDs, and fees for safety-related courses. The deadline for submitting the one-page application is July 31. Should you have questions about the grant program, please contact Dan Beck, LGRMS Director, at 678.686.6280.
The opportunity to receive these grant funds is just one of the many reasons to be a member of the ACCG Workers’ Compensation Fund. If you have an interest in joining the Fund, please contact Joe Dan Thompson at 404-589-7862 or jthompson@accg.org.
