Guilford Gets $95K From CT Interlocal Risk Management Agency

GUILFORD, CT —Guilford First Selectman Matthew Hoey and town human resources director Mitchell Goldblatt were presented with a $94,890 check Tuesday by Fiona Porto of the Connecticut Interlocal Risk Management Agency.

The funds represent Guilford’s prorated share of CIRMA’s latest $5 million Members’ Equity Distribution. This distribution is a reduction in Guilford’s insurance costs for fiscal year 2021-22.

“CIRMA continues to provide the town with exceptional products, service and advice in managing our various risk management categories," Hoey said in a news release. "This Member Equity Distribution is greatly appreciated and the management team is to be congratulated on creating the efficiencies which lead to these distributions.”

The town and the Board of Education received a total of $601,756 in distributed Members’ Equity over the past 10 years, described as "one of the many unique benefits of CIRMA membership."

“The strength of our balance sheet is undeniable, and despite unprecedented market conditions, CIRMA continues to see consistent, top-tier financial results across the board,” CIRMA president and CEO said. "Our overall financial strength routinely exceeds expectations as we continue to strike a perfect balance between risk and reward. CIRMA’S deliberate execution of our financial and operational strategies continues to drive our ability to distribute equity back to our members."

CIRMA operates both Worker’s Compensation and Liability-Automobile-Property risk sharing pools for Guilford and many other Connecticut towns.