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    Wednesday, April 24, 2024

    Stonington's insurer gives town check for $43,321 in equity distribution

    Stonington -- The Connecticut Interlocal Risk Management Agency, the town’s insurer, recently gave the town a check for $43,231, its prorated share of CIRMA’s $5 million members equity distribution for 2017.

    “This year’s Members’ Equity Distribution was the result of excellent operational performance, financial strength, and of the success of our members’ risk management efforts,” said David Demchak, CIRMA’s president and CEO, in a statement announcing the distribution.

    Barbara Henry, the chairman of CIRMA’s Board of Directors, said the organization “has achieved its mission of delivering rate stability in support of our members’ need for budget stability.”

    The 2017 distribution is the sixth and largest distribution made during the seven years of the program. CIRMA has distributed $19.7 million to its municipalities, public schools, and local public agencies who are its members.

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