CIRMA's strong leadership has enabled it to build a financial strong, secure organization. As CIRMA begins its 37th year of operation, we continue to grow in financial strength. Our Members' Equity has grown to over $115 million, and surpasses our premiums of $96 million. Members' Equity, also known as surplus, provides insurance organizations a source of contingency funds for unexpected market losses or higher than anticipated reserve development. It an important indicator of an insurer's financial strength.
Reinsurance Program. Our members' financial security is further enhanced by CIRMA's strong reinsurance program. CIRMA's reinsurers are some of the world's largest, most experienced, and all are with A.M. Best category A-rated carriers. Their financial strength and high limits spreads risk across the industry to protect CIRMA's members from catastrophic events.
Stability. CIRMA's financial strength has enabled it to provide our member long-term rate stability. For 2017-18, our aggregate rate need is a -2.1% for the Workers' Compensation pool and -1.1% for the Liability-auto-Property pool.
Connecticut Interlocal Risk Management Agency900 Chapel Street * New Haven, CT 06510 * Ph: (203) 946-3700 * Fax: (203) 773-6971
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