NEW HAVEN, CT — The Connecticut Interlocal Risk Management Agency (CIRMA) presented a check for $68,098 to Monroe First Selectman Ken Kellogg. It was a share of the insurer’s latest $5 million Members’ Equity Distribution.
Over the past 12 years, CIRMA put nearly $42 million in equity back into the hands, and budgets of its member towns, cities, schools and local public agencies, according to a press release.
“Because of the sustained commitment and dedication demonstrated by our community of employees, members, board and committee members, and business partners, CIRMA is better positioned than ever before,” said David Demchak, CIRMA’s president and CEO.
“CIRMA’s Members’ Equity Distribution program affirms our financial fortitude and deliberate and disciplined approach to creating value for CIRMA’s members,” he continued.
During the program’s history, which spans more than a decade, the town of Monroe and Monroe Board of Education received a total of $527,344 in distributed Members’ Equity — one of many unique benefits of being a CIRMA member, according to the insurer.
With 370 members across the Nutmeg State, CIRMA is the leading provider of workers’ compensation, liability, auto and property insurance coverages to Connecticut public entities. It is the only Connecticut public entity insurance provider that returns equity to its members — not shareholders.
“When you combine the power of our shared community, aligned mission and values, and mutual goals, the results are limitless. CIRMA’s deliberate execution of our financial and operational strategies continues to drive our ability to distribute equity back to our members,” said Matthew Knickerbocker, chairman of CIRMA’s board of directors.