At the recent Beresford City Council meeting, the South Dakota Public Assurance Alliance (SDPAA) highlighted its commitment to local governments, emphasizing its role in providing essential risk management services. The organization, which covers 75% of municipalities in South Dakota, aims to support cities, counties, and other public entities by offering affordable insurance options that have become increasingly vital in a challenging insurance market.
The SDPAA, established in the late 1980s, was created in response to a hardening insurance market that left many public entities struggling to find adequate coverage. Today, it boasts over 500 members, including 64 of the 66 counties in South Dakota, and serves a diverse range of municipalities, from the smallest towns to the largest cities like Sioux Falls.
During the meeting, the executive director of SDPAA shared insights into the organization’s operations, stating, “Our members are our stakeholders, so everything we do is for our members.” This member-focused approach ensures that even the smallest municipalities receive the attention and resources they need, often more than larger entities that may have access to specialized legal and administrative support.
The SDPAA also discussed its governance structure, which includes an 11-member board of directors representing various local government interests. This board is tasked with maintaining the financial health of the pool and ensuring that it meets the needs of its members. The executive director noted the importance of local partnerships, particularly with First National Bank of Sioux Falls, which assists in managing investment strategies.
As the SDPAA continues to grow and adapt, it remains dedicated to providing valuable services to South Dakota's local governments, reinforcing its mission to protect public assets and enhance community resilience. The organization encourages municipalities to reach out and engage with their neighbors to learn more about the benefits of membership and the quality of service provided.