Press Release Insurance Accepted

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Press Release Insurance Accepted Powered By Docstoc
					         Burlington County Joint Insurance Fund Welcomes New Member


Marlton, NJ, Jan. 10, 2011 - The Borough of Pemberton accepted an offer of
membership from the Burlington County Municipal Joint Insurance Fund (BURLCO JIF)
effective January 1, 2011. The municipality realized savings of nearly 15% ($19,799)
over their expiring insurance premiums and an expansion of coverage and services in
many areas, including risk and claims management, loss control, and safety training.
The Burlington County Municipal Joint Insurance Fund (BURLCOJIF) serves as a
mechanism for municipalities to realize cost savings by pooling money with other local
municipalities to control risk costs and to purchase property, liability, and workers
compensation insurance coverage at a volume discount. Joint Insurance Funds are an
outstanding example of the effectiveness of inter-local municipal cooperation and clearly
demonstrate the taxpayer savings that can be realized as a result of shared-services
arrangements throughout the State of New Jersey.
The BURLCOJIF celebrates its 20th Anniversary in 2011. The BURLCOJIF commenced
operations on January 1, 1991 with ten municipalities, including: the City of Beverly,
Cinnaminson Township, Delanco Township, Delran Township, Florence Township,
Hainesport Township, Riverside Township, Borough of Riverton, Shamong Township
and Springfield Township. These municipalities made the courageous decision to leave
the standard insurance market and its exorbitant costs behind, and join together to
insure themselves for property, auto, liability and workers compensation risks.
Over the past 20 years, the JIF has flourished, with a present membership of 23
municipalities and an operating budget for 2011 of $6,362,194, of which 88% pays for
member benefits and services. What is most impressive is the outstanding financial
management of the JIF. While many organizations are encountering double-digit rate
increases, the JIF experienced a budgetary increase for 2011 of only .02% ($1,208) over
2010. The BURLCOJIF prides itself on its outstanding financial and fiscal management,
especially in these uncertain economic times.
The results speak volumes about the effectiveness of the Joint Insurance Fund.
During 20 years of operation, municipalities participating in the BURLCOJIF have saved
millions of dollars in premiums and have received surplus distributions of over $4.4
million. “These surplus distributions would have been insurance company profits, instead
they are local taxpayer’s savings” explained Michael Mansdoerfer, Mayor of Lumberton
Township and Chairperson of the BURLCOJIF Finance Committee.
Steve Walsh, Executive Vice President of EJA/Capacity Insurance of Bordentown, and
Risk Management Consultant to the Borough of Pemberton, worked closely with the
Borough on their application to the BURLCOJIF. Walsh, who works with many
municipalities in Burlington County as a Risk Management Consultant, values the level
of service and caliber of programs available to members of the BURLCOJIF. “The JIF
not only serves as a way for towns to realize cost savings, but also as a means of
obtaining outstanding services and risk management programs that would otherwise be
unavailable from a traditional insurance company,” stated Walsh.
Currently, the BURLCOJIF boasts an unparalleled record of financial success, member
services, and coverage stability. Over 370 municipalities in New Jersey are members of
a JIF. “The BURLCOJIF is always looking to grow and add to our membership. There
are many Burlington County municipalities that have a great opportunity awaiting them




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by exploring membership with the BURLCOJIF,” explained Kathy Burger, Medford
Township Clerk, CFO, and Chair of the BURLCOJIF Strategic Planning Committee.
The BURLCOJIF offers member municipalities many value-added services in addition to
insurance coverage. The JIF arrangement gives municipalities a firsthand role in
overseeing claims and lawsuits. According to Donna Ryan, Westampton Township
Administrator and 2011 Chair of the BURLCOJIF, municipalities had virtually no
involvement in the administration of claims with their former insurers. Now the
municipalities work with their Fund Commissioners, Claims Coordinators, and Risk
Managers in managing claims. “It is the mission of the BURLCOJIF to offer a
comprehensive approach to risk management, safety, and claims management
programs, while achieving a cost savings that is often unrealized in the standard
insurance marketplace,” stated Ryan.
Due to reductions in claim frequency and severity, JIF members now have greater
control over their premiums. This is the result of a unique safety culture adopted by the
members and fostered by the rigorous safety and maintenance programs developed by
the BURLCOJIF safety professionals.
Paul J. Miola of Arthur J. Gallagher Risk Management Services, Inc. based in Marlton,
and Executive Director of the BURLCOJIF, credits the success of the program to the
active involvement of municipalities in implementing JIF safety and risk management
programs. “We’re not afraid to take cases to court when one of our members has been
wrongly sued,” said Miola. “On the other hand, when one of our employees is injured,
we take quick action to get high-quality medical care and return the injured worker to a
productive life as soon as possible. Every accident is reviewed so we can learn from our
mistakes and avoid recurring incidents.”
Current Members of the BURLCO JIF are:
                    Bass River                                  Medford
                    Beverly                                     Mt. Laurel
                    Bordentown City                             North Hanover
                    Bordentown Township                         Pemberton Borough
                    Chesterfield                                Riverside
                    Delanco                                     Shamong
                    Delran                                      Southampton
                    Edgewater park                              Springfield
                    Florence                                    Tabernacle
                    Hainesport                                  Westampton
                    Lumberton                                   Wrightstown
                    Mansfield

More information on the BURLCO JIF can be found on the JIF website:
http://www.burlcojif.org.

For the BURLCOJIF please contact:
Jaclynne Parsons, Marketing Representative
Arthur J. Gallagher Risk Management Services, Inc., Marlton, NJ
(856) 446-9141
jaclynne_parsons@ajg.com




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