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| HDH Group Announces 2009 MRM Trusts Dividends |
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| PITTSBURGH, PA – April 6, 2009 – The HDH Group, a nationally recognized leader in the risk management and employee benefit insurance intermediary markets and exclusive broker for the Municipal Risk Management (MRM) Workers’ Compensation and Property & Liability Trusts, today announced the 2009 dividends for the MRM Trusts. In total, the two trusts paid $3,911,109 in dividends this year to their municipal members. Disbursements were made during the annual meeting of the MRM Trusts held at the Seven Springs Mountain Resort. The 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 Workers’ Compensation and Property & Liability Trusts are self-insurance pools developed exclusively for Pennsylvania municipalities and authorities, with more than 350 members from over 40 counties across Pennsylvania. The MRM Workers’ Compensation Trust paid a 2009 dividend of $3,039,907 to its members. Since 1996 it has paid its municipal members a total of $50,799,857 in annual dividends. MRM also distributed the second dividend for its new Property & Liability Trust in the amount of $871,512, bringing the total dividend amount paid to members of this Trust to $1,912,190. |
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| “State law authorizes Pennsylvania municipalities and authorities to pool their resources to cost-effectively meet their workers’ compensation and property and liability insurance requirements, which is just part of what the MRM Trusts provide,” said Matt Mathews, Trust Administrator for Municipal Risk Management. “What makes these Trusts particularly attractive is that they also pay dividends to their members that substantially reduce a municipality’s net-net cost of its premiums. In light of our current economic environment, these savings and dividend payments are more important than ever for our members.” |
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| According to Jack Cahalan, Township Manager for Lower Saucon Township, “We have been members of the MRM Trusts for quite a few years and have always received excellent insurance advice and fast claim service from the Trusts and our Broker. In addition, we have consistently received annual dividends that have significantly reduced the Township’s insurance costs.” |
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| The MRM Trusts provide a wide-range of member benefits that are administered by the HDH Group, which has been providing risk management solutions to Pennsylvania governmental entities for over 25 years. Benefits and services delivered to members of the MRM Trusts include loss control services, claims handling and exposure analysis, in addition to Municipal Insurance products that are necessary and specific to Pennsylvania municipalities and authorities. 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 were created to provide safe and credible alternative risk management options to local governments in Pennsylvania. The MRM Trusts are governed by a Board of Trustees, elected by the members. As the MRM Trusts are non-profit organizations, organized pursuant to state statute, 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 mandate, 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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