The Benefits of IRMA
For almost 40 years, the Intergovernmental Risk Management Agency (IRMA), a non-profit risk pool, has been helping public entities stabilize costs, reduce risk and better serve residents. As a member-owned, self-governed, non-profit risk pool, IRMA provides comprehensive coverage, full-service claims and litigation management, risk prevention and training services at substantial savings to our members.
The opportunity to be an owner of IRMA is a privilege for only those entities that have a proven record of commitment to safety, risk management and accountability. This high standard of selection assures financial stability of the pool. For eight consecutive years, IRMA’s contribution rate has declined. During that time period, we have returned over $41 million to our members, which is primarily attributable to significant investment returns.
In this time of transparency in government, IRMA’s contribution formula provides uniform and stable pricing to its members in a manner that is open and transparent. Members have the ability to continually reduce their annual pool contribution through their enhanced risk management performance, resulting in a lower overall cost of risk.
IRMA is a full-service risk management provider, offering its members:
- Comprehensive Risk Management Services, including assessments, safety inspections, hazard surveys, onsite and regional trainings, best practice policies, webinars and online trainings.
- Annual Property Appraisals at no additional cost.
- An Early Intervention Program, providing pre-claim/suit legal and risk management consulting.
- Grant Programs, including power cots, stair chairs, ambulance loading systems, CALEA, ILEAP, APWA, CAPRA, injury prevention programs, Lexipol, etc.
- Unemployment Claims Administration Services.
- Professional, Experienced, Responsive and Comprehensive Claims Administration, from dollar 1, we handle your claims fairly and with your input in a cost-effective and efficient manner taking into consideration the interests that are specific to governmental entities.
- Customized public entity coverage that exceeds the offerings of commercial carriers and is one of the most comprehensive programs available anywhere.
- Long-term stability of pricing and membership. The IRMA contribution formula looks back 5 years so that our members will not experience a spike in their annual contribution because of a large loss in one year. Our experience modifier scale also caps the losses that factor into contribution calculations to maintain stable rates for our members.
- Flexible optional deductibles up to $250,000, chosen on an annual basis.