This is a printer-friendly version of an article from Zip06.com.

Madison Receives Equity Distribution from CIRMA

The Connecticut Interlocal Risk Management Agency (CIRMA) has given Madison a check for $38,023, the town’s prorated share of CIRMA’s $2.5 million Members’ Equity Distribution for 2015. 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 member municipalities, public schools, and local public agencies.

CIRMA President and CEO David Demchak said, “This distribution is an extraordinary achievement made possible by the commitment and collaboration of our members, our strong capital position, and stable financial performance. Our members’ commitment to risk management and focus on loss reduction efforts have contributed to our financial strength.”

As a member-owned and governed organization, CIRMA works solely for the benefit of its members. As its owners, CIRMA members have a significant role in CIRMA’s success. This year, 227 CIRMA-member municipalities, public schools, and local public agencies participated in the $2.5 million distribution. 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 2013-2014; b) the fiscal year of declaration 2014-2015; and c) the fiscal year of distribution 2015-2016.

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