13 Jun 08:25Hotnews / insurance

Latest News - County Receives Insurance Dividend

Stephens county has received $19, 046 from the board of trustees of the affiliation county commissioners of georgia interlocal hazard control business enterprise.

This is the county's proportion of a $three.25 million dividend declared with the aid of the board of trustees.

The money could be carried out in the shape of a credit score closer to the county's belongings and legal responsibility contribution for the 2022-2023 policy years.

The accg-irma is a non-profit, member-owned insurance fund that is controlled through a board of trustees who constitute participating participants.

Georgia law authorizes counties to shape non-earnings coverage finances which operate much like mutual coverage agencies.

This fund lets in participants to buy coverage coverage at rates that are commonly higher than what they might negotiate on their very own.

It's far an green approach of financing insurable risks which in the long run reduces coverage prices for taking part u . S . Governments and advantages the taxpayers.

Participants also get hold of substantial loss control and protection services to assist mitigate claims.

Any contributions closing after paying real claims and operating fees, in addition to any funding earnings earned at the top class at the same time as it's miles held to pay claims, belong to the member county governments.

The dividends are viable because of favorable consequences in those regions as well as the a success and devoted management efforts at the a part of the county in promoting protection and imposing loss manipulate strategies.

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