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12/11/2018 - Fairfield Receives Check from Insurance Carrier’s Members’ Equity Distribution Program

First Selectman Mike Tetreau is pleased to announce that the Town of Fairfield received a check from the Connecticut Interlocal Risk Management Agency (CIRMA), one of the Town’s insurance carriers, for Fairfield’s share of this year’s CIRMA Members' Equity Distribution Program in the amount of $50,638.00, bringing the eight-year Members’ Equity Distribution total to $261,297.

The 2018 distribution is the seventh and second-largest distribution made in the eight years of the program. CIRMA began its Members’ Equity Distribution Program in 2011, and has distributed a total of $25 Million to its member municipalities, public schools, and local public agencies. The program is an unrestricted distribution, which means that members can use the funds as they choose—to fund a risk management initiative, make property improvements, or support public programs and services.

CIRMA President and Chief Executive Officer David Demchak said, “The partnership and risk management efforts of our members are a sustaining force behind CIRMA’s outstanding financial strength, growth in service programs, and our ability to deliver a Members’ Equity Distribution Program. Working together, we are making our communities better and safer places to live, learn, and work in.”

First Selectman Tetreau said, “The Town is delighted that CIRMA’s Members’ Equity Distribution Program will help members like us achieve our mission of providing vital public services at a most economical cost.”

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

About CIRMA:
CIRMA, owned and governed by its members, operates two risk-sharing pools: the Workers’ Compensation Pool and the Liability-Automobile-Property Pool. It also provides risk management services to self-insured municipalities and local public agencies.

CIRMA is the municipal market leader in Connecticut. CIRMA’s membership includes over 85% of the state’s municipalities and has premiums of $97 million, Members’ Equity of over $140 million, and Assets of over $400 million.

A photo taken at the check presentation ceremony shows from left to right, Human Resources Director Emmet Hibson, First Selectman Mike Tetreau and Senior Underwriter Ashley Reda of CIRMA.