Frenchville receives dividend for loss prevention

6 months ago

Municipal officials are pleased to announce that the Town of Frenchville has received a $1,860 dividend check from the Maine Municipal Association because of its good performance and loss prevention programs. 

The Maine Municipal Association offers three self-funded pools for municipal and quasi- public entities in Maine: The Workers Compensation Fund formed in 1978, the Property & 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. At its May meeting, the board approved another dividend distribution. Actual allocation and eligibility are based on the individual member’s own loss experience. Michelle Pelletier, Director of Risk Management Services for MMA, said more than 82% of program participants received a dividend this year for their good risk management practices and favorable loss experience. 

This year the Workers Compensation Fund has distributed almost $725,000 in dividends to participants and the Property and Casualty Pool has paid dividends of nearly $600,000, for total payments of just over $1.3 million returned directly to MMA members. Maine Municipal Association has been paying dividends since 1997, the two programs have returned over $27 million to participating members. For more information about any of the MMA Risk Management Services programs, including online training programs and other services, check the offerings on their website at www.memun.org and click on the Risk Management Services link, or call 1-800-590-5583.