HomeMy WebLinkAboutMMIA 2001 Program DividendMontana Municipal Insurance Authority .
MEMORANDUM JAN f26 2001 D
I
TO: MMIA Workers' Compensation Program Members
LAUREL
FROM: Tim Magee, Chair C 1TY OF
Alec Hansen, General Manager
Bob Worthington, Chief Executive Officer
DATE: January 18, 2001
RE: 2001 PROGRAM DIVIDEND
In 1986, under authority of the Montana Interlocal Cooperation Act, Montana cities and towns
joined forces to form the Montana Municipal Insurance Authority (MMIA). For fifteen years the
MMIA has served the insurance needs of our member cities and towns. We are pleased to
again share our success of the Workers' Compensation Program with its members.
During the past fifteen years we have seen significant shifts in the workers' compensation,
liability and property insurance markets. Each has experienced shortages and surpluses. The
MMIA has provided Montana cities and towns continuous access to insurance coverage in the
face of these market pressures. The foresight of the MMIA creators, some fifteen years ago,
has produced benefits including (1) substantial reductions in premium costs, (2) increased
policy coverages, and (3) development of a support organization dedicated to assisting its
membership.
At the 2000 MMIA Annual Meeting, Board Chair Tim Magee announced a $2 million dividend.
The attached check is your municipality's share of that dividend which is being distributed to
members of the MMIA Workers' Compensation Program. These payments were approved by
your Board of Directors in accordance with the Program Agreement that allows for the
allocation of unencumbered fund balances to the membership. This dividend is made with the
appreciation of the MMIA staff and Directors for all that each of you have done to adopt
effective risk management practices and work with your employees to promote safety.
This is the fifth distribution for the MMIA Workers' Compensation Program.
1. January 2001, $2 million c y
2. February 2000, $1.25 million
3. January 1999, $1.75 million
4. January 1998, $1 million
5. November 1996, $983,305 L tiYt
This Program belongs to you, the members of the MMIA. Your commitment and diligence have
made it work, allowing us to return nearly $7 million over the past five years.
Congratulations and thanks for your continued support.
?G 1<i v' r?
Tim Magee, Chair , Alec Hansen, General Manager
Bob Worthington, Chief Executive Officer
\\Pdc_server\c\OSice flles\BWorthington\Bob\Workere Comp0ividendLt2001.doc
P.O. Box 6669, Helena, Montana 59604-6669 (406) 443-0907 In MT: 1-800-635-3089 Fax (406) 449-7440