Forsyth County recently received a dividend from the Association County Commissioners Georgia-Interlocal Risk Management Agency.
According to a news release, the $33,036 will be applied in the form of a credit toward the county’s property and liability premium for the 2011-12 policy year.
The county received a share of the $1.75 million dividend declared by the ACCG–IRMA Board of Trustees.
The group is a nonprofit Georgia county government-owned insurance fund providing property and liability insurance coverage to members since 1987, according to the release.
Charlie Newtown of McDuffie County, chairman of the board of trustees, said in a statement that the dividend was the largest in the program’s history.
"This program provides an outstanding service to counties and authorities throughout the state and allows us to cost-effectively manage our insurance needs," he said.
Any insurance premiums not used to pay claims and operating expenses, as well as any investment income earned on the premium while it is held to pay claims, belongs to the member county governments.
The dividend is made possible because of favorable results in the investment of premium dollars held in reserve to play claims, as well as successful management efforts on the part of Forsyth in promoting safety and implementing loss control techniques.