New Haven, July, 2021. The Connecticut Interlocal Risk Management Agency (CIRMA) presented a check for $50,525 to Honorable Kevin Cunningham, First Selectman of the Town of Plainfield — a share of CIRMA’s latest $5 million Members’ Equity Distribution. Over the past eleven years, CIRMA put nearly $37 million in equity back in the hands of its members.
“CIRMA’s Members’ Equity Distribution program continues to affirm the organization’s deliberate and disciplined approach to creating member value and substantiates its long-term financial strength. Over the past year, CIRMA further distinguished its many competitive advantages, dispelling a common assumption that one insurer is as good as another,” said Matthew Knickerbocker, Chairman, CIRMA Board of Directors.
The Town of Plainfield and Plainfield Board of Education received a total of $347,920 in distributed Members’ Equity—one of many unique benefits of CIRMA membership.
With 362 members across the Constitution State, CIRMA is the leading provider of Workers’ Compensation, Liability, Auto, and Property insurance coverages to Connecticut public entities. CIRMA is also the only insurance provider that returns equity to its members—not shareholders.
“The strength of our balance sheet is undeniable, and despite unprecedented market conditions, CIRMA continues to see consistent, top-tier financial results across the board. Our overall financial strength routinely exceeds expectations as we continue to strike a perfect balance between risk and reward. CIRMA’S deliberate execution of our financial and operational strategies continues to drive our ability to distribute equity back to our members,” lauded David Demchak, CIRMA President, and CEO.
CIRMA was established as a Connecticut Conference of Municipalities (CCM) service program—Connecticut’s association of towns and cities, with all of Connecticut’s 169 municipalities as members. Today, CIRMA is Connecticut’s number-one municipal risk financing and risk management services provider for Connecticut’s public entities. A member-owned and governed agency, CIRMA provides high-quality, tailored insurance for municipalities, school districts, and local public agencies. CIRMA operates competitive Workers’ Compensation and Liability-Auto-Property pools and provides holistic claims services and risk management solutions exclusively to the Connecticut public sector.