Henry County Receives Dividend to Lower Premium

Thanks in part to careful employees and diligent department heads, Henry County has received a dividend in the amount of $99,058.00 from the Association of County Commissioners of Georgia—Interlocal Risk Management (ACCG – IRMA). The dividend is Henry County’s share of a record dividend of $2 million, as declared by the Board of Trustees of the ACCG-IRMA. The dividend will be used as a credit toward Henry County’s property and liability insurance premium.

The County’s insurance offers coverage for auto, property, crime, general liability and errors & omissions, and even though Henry County has added seven new ambulances, two fire trucks, a new fire station, and several other buildings, Henry County’s premium remained flat for the fiscal year 2013. The County’s modification factor is 86.5 out of a 100 scale which is very good and has enabled Henry County to receive a 13.5 percent discount that will be used as a credit toward the FY 2013 insurance premium.

“This puts Henry County as one of the top counties in the ACCG Liability Insurance programs. I believe that this goal was the result of hard work of all the department heads working to cross their Ts and dot their Is. This is also an effort by all employees to keep the county safe for the citizens,” said Jim Wellman, Henry County’s Safety and Risk Officer.

According to David Uhlman, Insurance Programs coordinator for the ACCG, IRMA has returned a dividend 14 times in its 25 year history, and has returned a dividend every year for the past 10 years.  Henry County has received dividends in each of the 14 years, totaling $868,902, from ACCG-IRMA.

The ACCG-IRMA is a non-profit, Georgia county government-owned insurance fund providing property and liability coverage to its members since 1987. The program was established in 1987 and currently has 153 members, comprised of Georgia’s counties and authorities.  The assets of the program currently exceed $103 million. The $2 million dividend marks the largest in the program’s history.  The dividend will be returned in the form of premium credit to members that have participated in the program since 2003.  Total dividends returned to the membership since 1997 total $15.6 million.

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