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AMRRP Board of Trustees Approves $3M Member Dividend
The Arizona Municipal Risk Retention Pool (AMRRP) is returning $3 million to its property/casualty Members after the AMRRP Board of Trustees declared a dividend
in that amount at its meeting on May 20, 2011.
With membership that includes 74 of Arizona's 91 incorporated municipalities as well as the League of Arizona Cities and Towns, the AMRRP is the only
League-sponsored property/casualty and workers' compensation insurance program.
This dividend represents a portion of surplus funds in excess of amounts needed for payment of the AMRRP's current and estimated future liabilities. The $3
million will be distributed among AMRRP member municipalities that are property/casualty pool members as of July 15, 2011.
According to Rudy Rodriguez, President of the AMRRP Board of Trustees, "the AMRRP Board wanted to return as many premium dollars to our member cities and towns as
possible during these tough economic times without sacrificing the Pool's continued strong financial position. The $3 million dividend will either go out as
checks or be applied as premium credits by July 15."
The AMRRP has made a dividend distribution from its policyholder surplus for its property/casualty members every year for the past 15 years reflecting a total
return of $34,328,670 to its members. |
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League of Arizona Cities and Towns
1820 W. Washington St.
Phoenix, AZ 85007
Phone: 602-258-5786
Fax: 602-253-3874
http://www.azleague.org
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