Pools are a great risk management solution for government entities. As a LARM member, you already know this so I’m preaching to the choir. In case anyone asks, though, it’s estimated there are over 500 public entity pools in the U.S. providing coverage for approximately 75,000 of the estimated 91,000 governmental entities.
Members of pools have found their premiums are less, their service is better and they have more control over their risk management funds with a pool.
LARM started in 1995 with only 13 brave members who dipped their toes in the relatively new concept of pooling resources to self-insure rather than pay exorbitant fees to private insurance companies that may drop you after a large claim.
More cities and other governmental entities around the state found that LARM was a great risk management solution and by 2000 there were 36 LARM members. By 2015 there were 130. As of the first of January, 2018, we are at 166 members with more communities looking to join LARM.
Some of you have been directly responsible for the addition of LARM members as you have spread the word of the great service and lower premiums paid by LARM members. We thank you for that. For LARM to grow, it takes members to share how LARM has helped them whether it be through LARM safety newsletters, assistance with claims or accurate appraisals. Call or email Diane Becker with your stories of how LARM has assisted you so she can put them out there on Facebook or the website.
Keep promoting LARM to your neighboring communities. Refer them to our website www.larmpool.org for how to get in touch with Clint Simmons or Nate Fox, our LARM agents. Cint or Nate or any member of the LARM staff would love to sit down and talk about the benefits of belonging to LARM.
It’s going to be a great year – thanks to our members, Board members and LARM staff who are dedicated to the growth and success of LARM.