ACCG-IRMA Board Declares $2.75 Million Dividend

On Monday, May 9, the ACCG-Interlocal Risk Management Agency (IRMA) Board of Trustees voted to return a dividend in the amount of $2,750,000 to the ACCG-IRMA membership.  ACCG-IRMA is a non-profit, member-owned property and liability insurance pool designed to meet the insurance needs of Georgia County Governments. This marks the fourteenth consecutive year that ACCG-IRMA has returned a dividend. It will be returned in the form of a premium credit to members that have participated in the program since the October 1, 2006 – 2007 policy period. Total dividends returned to the membership since 1997 total $25.3 million dollars.

The dividend is intended to benefit the long-term participants of the insurance program.  For 2016-17, the members that have participated in the ACCG-IRMA program since 2006 will receive a dividend that will reduce their premium by an average of almost 10 percent.

In addition to the dividend announcement, Property & Casualty Insurance Programs Director David Uhlman announced that the membership would see an overall increase of less than 1 percent in their 2016-17 premiums. That nominal increase is a result of members’ growth because the overall rates decreased. Uhlman said that each member is rated individually based on their exposures and claims history, so some members will see larger increases while others will see decreases in net premium.

ACCG-IRMA was established in 1987 and currently has 163 members, comprised of Georgia counties and authorities. ACCG-IRMA’s assets are currently $118.6 million.  According to Charlie Newton, McDuffie County Chairman and Chairman of the ACCG-IRMA Board of Trustees, the $2.75 million dividend is the largest in the program’s 29-year history.

For information on ACCG-IRMA, please contact Ben Pittarelli or Joe Dan Thompson at (404) 522-5022.