The AMRRP Board is happy to announce, that once again, AMRRP is able to return a $10 million dividend to P&C Members!
This is really incredible. Last year we gave back $10 million, and the year before that, $5 million. If you have been with AMRRP for the last 3 years you probably have received the equivalent of year or more worth of premium back! What makes this especially remarkable is that the industry in general is struggling with property, auto and workers’ compensation rate increases. One advantage to AMRRP is we only have claims among the Members; we are not being hit by claims in states that struggle with fires and floods, etc.
P&C Members may apply their dividend as a credit to the next renewal, or receive it via check. If for some reason we don’t hear back from a member as to their preference we will default to a credit.
Another major factor for this success is the AMRRP Board’s continued investment into risk management. Most importantly, the majority of Members are proactively taking advantage of programs. When I started here in 2001, we had three risk management programs – today we have 18. The more that Members use TriageNow for WC, HRSentry to update policies and procedures, Safe Personnel for training, etc. the better the loss experience has become. We could not achieve these results without the cooperation and great effort of our members!
I hope this great news helps with the struggle we are all going through.
Take care, be safe and let me know if you have any questions.