Easton, Redding, and Region 9 received a $3908 member equity distribution from Connecticut Interlocal Risk Management Agency. CIRMA distributes any surplus following the closing of its fiscal year to its members rather than to its shareholders.
Since 2010, more than $44 million have been returned to its members. This year, there was a $2 million distribution.
“The decision to return equity to our members is not merely a symbolic gesture; it reflects a fundamental commitment to shared prosperity and social responsibility,” according to David Demchak, ARM, CIRMA president and CEO.
“We recognize the interconnectedness of our success with the prosperity of the communities they operate within,” he said. “By reinvesting in the community, CIRMA further reinforces our commitment to our members. Profitability and social impact are not mutually exclusive but rather complementary objectives.”
April Martin, vice president of marketing and communications, said “CIRMA values members over profit margins.”
CIRMA is a Connecticut risk management agency focused on working with school districts, municipalities and emergency services. It creates a risk pool for its members and returns any surplus back to the members. It was created in 1980 as more commercial insurance companies refused to cover municipal organizations.
