Caribou Public Works receives $2,029

14 years ago

CARIBOU — Municipal officials of the Caribou Utilities District were pleased to announce Monday that the district has received a $2,029 dividend check from the Maine Municipal Association (MMA) as a result of its good loss experience and loss prevention programs.

 

MMA offers three self-funded pools for municipal and quasi-public entities in Maine: the Workers Compensation Fund formed in 1978, the Property and Casualty Pool formed in 1987 and the Unemployment Compensation Fund formed in 1978.

The programs are overseen by governing boards of elected and appointed municipal officials. Each year the boards review the programs’ loss experience to determine if dividends may be paid. According to Patricia Kablitz, director of risk management services for MMA , “more than 75 percent of program participants receive dividends each year for their good risk management practices and loss experience.”

This year the Workers Compensation Fund has distributed almost $600,000 in dividends to participants and the Property and Casualty Pool has paid dividends of nearly $400,000 for total payments of nearly $1 million provided directly to MMA members.

Since 1979, the three programs have returned close to $13 million in dividends to participating members. Addition information regarding the MMA Risk Management Services programs can be obtained by calling 1-800-590-5583 or visiting www.memun.org.