Posted: Tuesday, July 31st 2012 at 9:19am
ACCG Property and Liability Board approves $2M dividend to counties
By Ken Stanford Staff
ATLANTA - The Association County Commissioners of Georgia Property and Liability Board of Trustees, which oversees the member-owned property and liability insurance pool for the association, recently voted to return a dividend in the amount of $2 million in the form of a premium credit. This marks the tenth consecutive year that the program has returned a dividend, which is intended to benefit the long-term participants of the insurance program.
Several counties in the immediate Gainesville area are among the beneficiaries this year.
The $2 million dividend is the largest in the program’s history. The dividend will be returned in the form of premium credit to members that have participated in the program since 2003. Total dividends returned to the membership since 1997 total $15.6 million.
The ACCG Property and Liability Insurance Program is a non-profit, member-owned property and liability insurance pool designed to meet the insurance needs of Georgia county governments. The program was established in 1987 and currently has 153 members, comprised of Georgia’s counties and authorities. The assets of the program currently exceed $103 million.
A couple of counties in the Gainesville area, however, don’t participate in the ACCG-Interlocal Risk Management Agency (IRMA) program but do participate in the ACCG-Group Self-Insurance Workers’ Compensation Fund (GSIWCF), according to Ben Pittarelli, Manager of Marketing and Field Services, ACCG Insurance Programs.
"I included the total amount of dividends those counties have received since they joined the ACCG-GSIWCF to show historical results," Pittarelli said. "We’re very proud of our insurance programs and what we’ve been able to accomplish with our counties here in Georgia. Both the IRMA and GSIWCF are extremely successful and have helped to save county governments millions of dollars over the years. Between the two funds, we’ve returned over $60 million in dividends back to the counties through premium credits."
Pittarelli provided this information on Hall County and the counties adjacent to it:
Hall - Not in the ACCG-Interlocal Risk Management Agency (IRMA) but does participate in the ACCG-Group Self-Insurance Workers’ Compensation Fund (GSIWCF) $947,694 total in dividends through 2012.
Gwinnett - Does not participate.
Barrow - Doesn’t participate in IRMA, participates in the ACCG-GSIWCF, $488,641 total in dividends through 2012.
Jackson-$56,512 in IRMA dividend for 2012.
Banks-$19,710 in IRMA dividend for 2012.
Habersham-$36,068 in IRMA dividend for 2012.
White-$24,290 in IRMA dividend for 2012.
Lumpkin-$27,076 in IRMA dividend for 2012.
Dawson-$21,765 in IRMA dividend for 2012.
Forsyth-$48,646 in IRMA dividend for 2012.
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