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 experienced and proven risk strategies and services for cities 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.

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, please email icrma@rpadmin.com.

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) years
    • Please ask your finance department to provide payroll (total subject wages from the state DE-9 form or federal Form 941) for the required fiscal periods. 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 current year 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 past ten (10) years 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 past ten (10) years 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
      • $250,000
      • $500,000
      • $750,000
      • $1 million
      • $2 million
      • $3 million or higher
    • Workers’ Compensation:
      • $350,000
      • $500,000
      • $750,000
      • $1 million
      • $2 million or higher

Why Choose ICRMA?

Accountability

  • ICRMA is controlled by its members. This allows service and value, not profit, to drive the organization.
  • Members actively participate in the organization’s governance. Each member has a seat on the Board which meets six times annually.

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 and reward positive loss histories.
  • Optional risk management funds may be established to support risk management budgets.

Efficiency

  • ICRMA coordinates 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 Liability, Workers’ Compensation, Property, Auto Physical Damage, Earth Movement & Flood, Crime, Cyber Liability, and Special Events.