Associated Risk Managers (ARM) Of Illinois Announces PSIC's First Dividend Distribution

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Associated Risk Managers (ARM) of Illinois is pleased to announce that the Prairie State Insurance Cooperative (PSIC) has presented its first dividend distribution at its Annual Members’ Meeting, just four years after the program’s inception. The school districts that were inaugural members of PSIC will share in the $32,407 distribution from the 2006/2007 Plan Year.

The PSIC started as a small charter and has become the fastest growing school cooperative in the Midwest . . .

Associated Risk Managers (ARM) of Illinois is pleased to announce that the Prairie State Insurance Cooperative (PSIC) has presented its first dividend distribution at its Annual Members’ Meeting, just four years after the program’s inception. The school districts that were inaugural members of PSIC will share in the $32,407 distribution from the 2006/2007 Plan Year.

An estimated 70 people attended the 2010 Annual Members’ Meeting, with 52 school districts represented. Since PSIC was founded in July 2006, its membership has grown from 17 charter schools to 80, with expectations of topping 100 member schools by July 2010.

The PSIC is just one of many tools available to ARM Partners to help expand their business and revenue potential. Robert Pegg, Marketing Director of ARM of Illinois, is pleased with the popularity and the administration of the PSIC program. “We had such a good experience in our first year,” says Pegg. “We have no open claims from that first year, and we do expect to do additional distributions from that first plan year. “

“The PSIC started as a small charter and has become the fastest growing school cooperative in the Midwest,” says Pegg. “Working with Arthur J. Gallagher Risk Management Services’ Public Entity team and Gallagher Bassett Services, Inc., we are able to market, administer, and conduct loss control services, and pay claims seamlessly.”

The PSIC and ARM of Illinois will visit the district board meeting of each charter member for the presentation of the dividends during the month of June.

About Prairie State Insurance Cooperative:
The Prairie State Insurance Cooperative (PSIC) is a protected, "non-assessable", self-insurance risk management program that gives districts long-term stability in premiums, as well as broader coverage and increased limits. The flexible program is designed to meet the needs of eligible individual member school districts in the following categories – K-8, 9-12, K-12, Special Education Districts and Intergovernmental Units.

About ARM:
ARM is the nation's foremost independent agency network, representing over 200 independent member organizations in 22 states that collectively generate $4 billion annually in premium volume. For more information on ARM affiliation, contact Scott Spangler, ARM Partners, Two Pierce Place, 20th Floor, Itasca, IL 60143-3141. Phone: 630-285-4324. http://www.armiweb.com
Strong as Many. Powerful as One.

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