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Guilford Receives Members’ Equity Distribution check from CIRMA

The Connecticut Interlocal Risk Management Agency (CIRMA) presented First Selectman Joseph Mazza of the Town of Guilford with a check for $47,191, Guilford’s prorated share of CIRMA’s $3 Million Members’ Equity Distribution for 2013. A member-owned and governed organization, CIRMA is the state’s largest municipal insurer, providing both Workers’ Compensation and Liability-Auto-Property coverage to its members.

Mazza stated, “This is the third year in a row we have received a distribution, and we are delighted to be a program participant.”

The distribution is unrestricted and made in the form of a check to CIRMA’s members, rather than a premium credit, so that each town can use it as it needs. CIRMA’s program is structured so that it does not subsidize insurance rates or disguise the true cost of insurance, thereby preserving CIRMA’s members’ ability to accurately budget from year to year.

Eligibility for the program requires that the member have continuous participation in any program that generated eligible contributions for the member throughout the following periods: a) the fiscal year under review 2011-2012; b) the fiscal year of declaration 2012-2013; and c) the fiscal year of distribution 2013-2014.

For more information about CIRMA’s Members’ Equity Distribution Program, visit www.CIRMA.org/distribution.