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 Property and Liability Insurance Trust 

The Interlocal Risk Financing Fund of North Carolina (IRFFNC) has approximately 380 participant entities. It provides a package of coverage specifically designed for NCLM members. Property coverage is provided for traditional items such as buildings, equipment, vehicles and fine arts. Unique public exposures, such as police dogs, can be covered at the member's option. Liability coverage ranges from general liability and auto to optional coverages such as police professional, public officials and employment practices.

The League's trust was created to allow municipalities not large enough to self-insure individually like larger cities do the ability to collectively enjoy the benefits of being self-insured while avoiding the volatility that occurs if not done collectively.

For more information, call 800-228-0986 and ask for Field Services.

 

How the Property and Liability Insurance Trust Began

The Property & Liability Insurance Trust began with 200 participant entities in 1986 on the heels of the liability insurance crisis of the mid 1980s. The League's workers' compensation trust was created to allow municipalities not large enough to self-insure individually like larger cities do the ability to collectively enjoy the benefits of being self-insured while avoiding the volatility that occurs if not done collectively.

Coverage

Real and Personal Property including Equipment Breakdown
Municipal Equipment (inland marine)
Auto Liability and Physical Damage
General Liability
Public Officials Liability
Employment Practices Liability
Police Professional Liability
Crime
Public Official Bonds (through Travelers)

Organization

The NCLM Board of Directors appoints the 14 members of the RMS Board of Trustees. The Trustees establish overall policy, set rates and approve special services. In addition, the Board retains professional consultants in the fields of investment management, actuarial study and financial audit.

The trustees rely upon consulting actuaries to determine rate levels and reserves to pay future losses. The pool is reinsured for catastrophic claims. The professional staff of the League handles underwriting, claims, risk management and loss control consulting services, safety grants – all at the David E. Reynolds Building in Raleigh.

For more information or to become a member

Only NCLM members are eligible to participate in the property and liability insurance pool. To apply for membership in the League or to participate in the property and liability pool, call 800-228-0986 and ask for Field Services, write Membership Services, 308 W. Jones St., Raleigh, NC 27603 or email Bob Haynes.