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HDH Group Announces the Financial Performance
of MRM Trusts |
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| HERSHEY, PA – September 8, 2008 – The HDH Group, a nationally recognized leader in the risk management and employee benefit insurance intermediary markets and Pittsburgh’s largest privately-held commercial insurance brokerage firm, is the exclusive broker for the Municipal Risk Management (MRM) Workers’ Compensation and Property & Liability Trusts. HDH today announced the MRM Trusts’ 2008 dividends while attending the Pennsylvania Municipal Authorities Association’s 66th Annual Conference being held at the Hershey Convention in Hershey, Pennsylvania, an event that attracted many of the Authorities that received the record dividends recently distributed by MRM. |
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| The MRM Workers’ Compensation and Property & Liability Trusts are non-profit self-insurance pools with more than 350 members from 41 counties across Pennsylvania. Earlier this year, MRM distributed the 2008 dividends to the members of each Trust. MRM paid a dividend of $3,733,871 to the Workers’ Compensation Trust members. A total of $47,759,950 in dividends has been paid to the members of this Trust since 1996. The first-ever dividend for the newly formed Property & Liability Trust was distributed in the amount of $1,040,678. Both MRM Trusts are endorsed by the Pennsylvania Municipal Authorities Association and Pennsylvania State Association of Township Supervisors, two of the Commonwealth’s leading municipal associations. |
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| “The MRM Trusts are outstanding, statutory-created municipal insurance pools developed exclusively for Pennsylvania municipalities,” said Matt Mathews, Trust Administrator for Municipal Risk Management. “State law authorizes members to pool their resources to cost-effectively meet their workers’ compensation and property and liability insurance requirements; but it’s the dividend aspect that makes these Trusts particularly attractive. MRM, in partnership with HDH, has consistently delivered dividends to the Trusts’ members. As the exclusive broker and administrator for the MRM Trusts, HDH combines more than two decades of municipal insurance experience with a hands-on approach to developing relationships with the members’ municipal staff and officials in order to resolve any workers’ compensation or municipal property and liability issues the members might have. Few other entities have developed the level of expertise in managing and solving the volume and breadth of municipal insurance matters in Pennsylvania that the HDH and MRM staff have developed.” |
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| The MRM Trusts provide a wide range of member benefits, including loss control services, claims handling, and exposure analysis, in addition to Municipal Insurance products that are necessary and specific to Pennsylvania municipalities and authorities. HDH and MRM have established relationships with Crawford & Company, Hileman & Associates, and Optimus Risk, to deliver personal and friendly value-added services to the members of the MRM Trusts. For more information on the MRM Trusts, contact Jack Onodi of the HDH Group at 412-391-7300, extension 1192. |
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About Municipal Risk Management
The Municipal Risk Management (MRM) Workers Compensation and Property & Liability Trusts are non-profit organizations created to provide safe and credible alternative risk management options exclusively to local governments in Pennsylvania. The MRM Trusts are governed by a Board of Trustees, which is elected by the members. As non-profit organizations approved by the Internal Revenue Service (IRS), the funds of the MRM Trusts belong to the member municipalities and excess funds are returned directly to the members in the form of dividends. Pursuant to IRS mandates, upon dissolution of either Trust, the MRM pool must distribute all remaining funds to the municipal members of the Trust. |
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| The MRM Workers Compensation Pooled Trust has been one of the most successful programs for municipal governments and authorities in Pennsylvania. It is regulated by the Self-Insurance Division of the Bureau of Workers Compensation, which requires the pool to annually file independent actuarial reports and independent audits for dividends and for rate making, all pursuant to Act 44 of 1993 as amended. The newly formed MRM Property & Liability Trust is authorized by the Pennsylvania Intergovernmental Cooperation Act and the Pennsylvania Political Subdivisions Tort Claims Act. |
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About HDH Group
The HDH Group is an employee-owned professional services firm offering a proactive, consultative approach to risk management, employee benefits, surety, and insurance brokerage. HDH combines specialized industry and insurance expertise with an extensive national and international reach to help clients successfully manage their total cost of risk, both today and tomorrow. |
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| A nationally recognized leader in the risk management and employee benefit insurance intermediary markets, HDH delivers business solutions that improve clients’ bottom-line performance. As an owner in Assurex Global, the largest global network of independent insurance brokers with over 500 offices across 6 continents, HDH provides customized insurance programs that meet specific regional or local needs nearly anywhere in the world. HDH works with clients across a wide range of industries, including transportation, healthcare, construction, manufacturing, information technology, financial services, public sector, and others. For more information about the HDH Group, visit www.hdhgroup.com, or call 800-434-7760. |
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| Trademark Notice: HDH ProAction™ Passport is a trademark of the HDH Group, Inc. All other products or company names are used for identification purposes only. |
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