Prospective Members

Running a city is not without its share of risks, from public safety to employment issues to a thousand other concerns predictable and unforeseen. Although risk can’t be eliminated, it can be controlled, as well as the costs of maintaining an effective risk management program. That is where ICRMA comes in. ICRMA offers wise, experienced and proven risk strategies and services for full-service cities that provide members financial flexibility, expert guidance, quality training, and accurate Running a city is not without its share of risks, from public safety to employment issues to a thousand other concerns predictable and unforeseen. Although risk can’t be eliminated, it can be controlled, as well as the costs of maintaining an effective risk management program. If your city is like most, you self-insure a great deal of risk exposures, which can represent nearly 80% of your risk management budget. That is where ICRMA comes in.

ICRMA offers wise, experienced and proven risk strategies and services that provide members financial flexibility, expert guidance, quality training, and accurate analyses. While ICRMA helps members effectively and immediately reduce premium costs, our greatest impact is helping members protect or even reduce costs through insightful, informed, proactive risk management.

For a comprehensive, at-a-glance view of ICRMA’s lines of coverage, click here.

In addition to its coverage programs, ICRMA has also taken advantage of the group’s purchasing power to offer a full menu of services to help its members control risks at better rates than they could obtain on their own.

Click here to learn more about the resources available to ICRMA members.

To learn more about how ICRMA can help your city reduce risk, or to request a free estimate, please contact ICRMA’s Executive Director Beth Lyons.

We usually recommend preparation of cost indications for the liability and workers’ compensation self-insured programs. If the estimates are of interest to the City, we will then work with your agency to prepare quotes for the other programs (property, crime, cyber, and so on). In order to prepare cost indications for the city, ICRMA needs the following:

Liability and workers’ compensation:

  1. Actual payroll for the past ten (10) year
    • Please ask your finance department to provide payroll (total subject wages from the state DE-9 form or federal Form 941) for fiscal periods July 1, 2007 – June 30, 2008 through July 1, 2016 – June 30, 2017. We prefer the information be provided in Excel.
      • If fiscal years are too complicated to quickly provide, please provide actual payroll for calendar years instead for quoting purposes.
      • If the city elects to pursue membership, we will need quarterly payroll information [DE-9 form or equivalent] for the past 6 quarters.
  2. Estimated 2017-2018 payroll (this can be added to the Excel spreadsheet mentioned in item #1)
  3. An electronic liability claim loss run (Excel is preferred), by year, for the period of July 1, 2007 through present.  The City’s TPA should value the losses as of the last day of the previous month. At a minimum, the loss run should include the following for each claim:
    • Date of incident
    • Claim number (along with suffixes if there are multiple claims in one occurrence)
    • Description of the claim
    • Total Paid amount
    • Total Reserve amount
    • Total Recovery amount
    • Total incurred amount
  4. An electronic workers’ compensation claim loss run (Excel is preferred), by year, for the period of July 1, 2007 through present.  The City’s TPA should value the losses as of the last day of the previous month. At a minimum, the loss run should include the following for each claim:
    • Date of incident
    • Claim number (along with suffixes if there are multiple claims in one occurrence)
    • Description of the claim
    • Total Medical paid amount and total reserve amount
    • Total Indemnity paid amount and total reserve amount
    • Total Recovery amount
    • Total incurred amount
  5. The City’s preferred member retention limit (MRL). We will provide estimates for several different MRLs if the City would like to compare.
    • Liability
      • $100,000
      • $250,000
      • $300,000
      • $400,000
      • $500,000
      • $750,000
      • $1 million
      • $1.5 million
      • $5 million
    • Workers’ Compensation:
      • $350,000
      • $500,000
      • $750,000
      • $1 million
  6. Report that shows the City’s workers’ compensation indemnity payments made between July 1, 2016 and June 30, 2017 on all cases. Your TPA will be able to provide this report to the City.

Why Choose ICRMA?

Accountability

  • ICRMA is controlled by its members. This allows service and value, not profit, to drive the organization.
  • Members are encouraged to participate in the organization’s governance.

Broader Coverage

  • ICRMA’s collective size enables the group to negotiate broader coverages with insurance markets.

Budget relief

  • Group purchasing of insurance secures attractive rates for member cities.
  • Rate stability ensures members can budget better, despite market fluctuations.
  • Proactive risk control and claims management services help members drive down costs.
  • Cost allocation models are designed with stability in mind.
  • Grant funds are available to eligible members to supplement their risk management budgets.

Efficiency

  • City staff can rely on ICRMA to handle annual cycles of buying insurance, auditing claims handling, and securing actuarial services for funding self-insured retentions.

Flexibility

  • Members select the risk control services that best fit their individual needs.
  • Members have access to a wide range of coverage programs including Property, Liability, Workers’ Compensation, Crime, Cyber Liability, Special Events and Vendors/Contractors.