Demotech, Inc. Affirms the Financial Stability Ratings® assigned to Public Entity Pools

COLUMBUS, Ohio, Feb. 15, 2016 /PRNewswire/ -- Demotech, Inc. recently affirmed the Financial Stability Ratings^® (FSRs) assigned to seven self-funded public entity pools.  Demotech reviews and rates more than 415 insurers, writing every line of Property & Casualty insurance in the US, District of Columbia, and Puerto Rico. Self-funded public entity pools are one of the many clienteles served by Demotech.

American Public Entity Excess Pool (APEEP)

American Public Entity Excess Pool (APEEP) was established in 1987 to provide the advantages of pooling on a casualty reinsurance basis.  In 1997, APEEP expanded its scope to provide those same pooling advantages on property reinsurance.  Both programs provide broad coverage to meet the unique needs of public entities and serve as a layer of insulation from the cycles of the commercial reinsurance marketplace.  The result is a stable, cost-effective risk-financing mechanism for APEEP members, which currently consist of five public entity risk pools, IPARKS, ICAP, OTARMA, PIRMA, and PEP.

Illinois Parks Association Risk Services (IPARKS)

Illinois Parks Association Risk Services (IPARKS) is a local government risk pool that offers comprehensive liability and property coverage specially tailored to address the wide variety of recreational programs offered by Illinois park districts and recreation agencies and provides an alternative to traditional insurance programs.  IPARKS differs from traditional insurers in that IPARKS is owned by its members and serves only its members' interests.

Illinois Public Risk Fund (The Fund)

The Illinois Public Risk Fund (The Fund) is an Illinois general nonprofit corporation whose charter was issued on January 3, 1986.  The Fund was established and operates to protect its members against liability or loss in the areas of worker's compensation and related employer's liability under Illinois law.  The Fund has approximately 700 members, all of which are public agencies, local public entities, school districts, or other local governmental bodies existing under Illinois law.  The Fund is not an insurance company subject to state regulation, because it is organized and qualifies as an intergovernmental risk management association or a joint self-insurance pool within the meaning of the Illinois Worker's Compensation Act and the Illinois Intergovernmental Cooperation Act.

The Fund essentially functions as a mutual company where its members have joined together by contract to establish a cooperative program of risk management and loss coverage for governmental operations.  The Fund's members may participate in the return of surplus contributions or dividends based upon the experience of the Fund and the individual members.  Returns of net assets or dividends and other related programs are determined by the board. 

The Iowa Communities Assurance Pool (ICAP)

The Iowa Communities Assurance Pool (ICAP) is a local government risk pool that offers comprehensive liability and property coverage specially tailored to meet the needs of Iowa public entities and provides an alternative to traditional insurance.  ICAP differs from traditional insurance programs in that ICAP is owned by its members and serves only its members' interests.

Ohio Township Association Risk Management Authority (OTARMA)

Ohio Township Association Risk Management Authority (OTARMA) is a local government risk pool that offers comprehensive liability and property coverages specifically tailored to meet the needs of townships throughout the state of Ohio and provides an alternative to traditional insurance.  OTARMA differs from traditional insurance programs in that OTARMA is owned by its members and serves only its members' interests.

Pennsylvania Intergovernmental Risk Management Association (PIRMA)

Pennsylvania Intergovernmental Risk Management Association (PIRMA) is a local government risk pool that offers comprehensive liability and property coverages specially tailored to meet the needs of governmental entities throughout the Commonwealth of Pennsylvania and provides an alternative to traditional insurance.  PIRMA differs from traditional insurance programs in that PIRMA is owned by its members and serves only its members' interests.

Public Entities Pool of Ohio (PEP)

Public Entities Pool of Ohio (PEP) is a local government risk pool that offers comprehensive liability and property coverages specially tailored to meet the needs of political subdivisions throughout the state of Ohio and provides an alternative to traditional insurance.  PEP differs from traditional insurance programs in that PEP is owned by its members and serves only its members' interests.

Demotech, Inc.

Demotech, Inc. is a financial analysis firm located in Columbus, Ohio.  Since 1985, Demotech has been serving the insurance industry by providing actuarial consulting as well as accurate and proven Financial Stability Ratings^® for Property & Casualty insurers, Title underwriters, and public entity pools. FSRs are a leading indicator of the financial stability of an insurer, as the rating process provides an objective baseline and insight into the financial stability of an insurer. Demotech levels the playing field by offering FSRs to insurers and public entity pools of all sizes.

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SOURCE Demotech, Inc.

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