Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance Contract Review topic
No spam. Unsubscribe anytime.
Kent County Insurance Authority reviews MMRMA membership, requests details on $1.5M retention fund
Summary
At the Jan. 28 meeting, the Authority discussed a 10-year cost comparison for membership in MMRMA, noting a $1.5 million retention fund and a 60–90 day notice requirement to leave; board members asked staff to gather more information on whether retention funds would be returned and on next steps.
Jeff Dood presented a 10-year cost-comparison of the Authority's membership in the Municipal Risk Management Authority (MMRMA) and highlighted several factors the board would need to resolve before considering a withdrawal. Dood said the MMRMA holds a $1.5 million retention fund and that the organization requires a 60- to 90-day notice period to leave. He told the board it was unclear whether those retention funds would be returned to members or how long a return would take and requested more information.
Board member Al Vanderberg reported on the work group’s review of claims and litigation and said the group has also discussed a framework the Authority could use if it decides to leave MMRMA, signaling that staff and the work group will undertake further analysis on potential transitions and claims-handling responsibilities.
No formal motion to leave MMRMA was recorded in the transcript. The discussion centered on information gathering—cost history, retention-fund mechanics and timelines, and potential operational changes if the Authority sought to self-administer claims or pursue alternative coverage.
Next steps recorded in the meeting notes call for the work group and staff to obtain additional information about the retention fund, timing for any return of funds, and the logistics of separating from MMRMA so the board can consider options at a future meeting.
