Title
Adopt Joint City Council/Municipal Improvement District Resolution Approving Amendments to the Joint Powers Agreement and Bylaws of the Redwood Empire Municipal Insurance Fund (REMIF) and Approving the Joint Powers Agreement and Bylaws for California Intergovernmental Risk Authority (CIRA)
Summary
The Redwood Empire Municipal Insurance Fund (REMIF) is a public entity pool representing 15 small to medium sized cities/towns. It was formed in 1976 with a mission to provide workers’ compensation coverage in response to increasing and unaffordable commercial rates. Fort Bragg joined REMIF on December 31, 1978. Coverage was expanded in the mid-1980s to include liability coverage and other services. Other lines of coverage have been added since that time.
The Public Agency Risk Sharing Authority of California (PARSAC) is a public entity pool representing 34 small to medium sized cities/towns and one fire district. It was formed in 1986 with a mission to provide liability coverage in response to the insurance crisis that eliminated commercial coverage for cities. Coverage was expanded in 1990 to include workers’ compensation coverage and other services. Other lines of coverage have been added since that time.
PARSAC and REMIF provide a pooled liability program, pooled workers’ compensation program, and coverage for group purchased property, Board of Directors public officials’ errors and omissions, auto physical damage, special events, fidelity bonds, cyber liability, and other ancillary benefits. REMIF also has a pooled medical/health program.
Given the similarities between the two agencies, REMIF and PARSAC explored a strategic partnership, which ultimately led to a proposed merger between the two organizations. Rather than one pool merging into the other, the Board of Directors for the pools directed the creation of a new pool (called the California Intergovernmental Risk Authority or CIRA). There will be great benefits in sharing resources, sharing expe...
Click here for full text