As a result of the tight insurance market for public entities in the mid 1980's, a group of cities and counties in southwest Florida made an extensive study into the feasibility of establishing a public entity pool for property, casualty and workers' coverage. As a result of the study, Public Risk Management of Florida (formerly Southwest Florida Intergovernmental Risk Management Association [SFIRMA]) was established on October 1, 1987, with eight members. Since that time, the Public Risk Management of Florida (PRM) has grown to over 50 members.

PRM is organized under an Interlocal Agreement with each member having a Board Member and Alternate Member on the PRM Board of Directors. PRM is self-governed by its members with each member having an equal vote. ALL decisions are made by the Board of Directors.

The PRM By-Laws do include an initial two-year commitment and a one-year notice thereafter. Only new members are subject to this initial two-year commitment. This provision has added coverage availability and rate stability to the association.

The Board of Directors must approve all new members. PRM is careful in the selection of new members, which adds to stability of the pool. PRM's territory is limited geographically, which enables PRM to provide the best services and coverage available.

PRM has a full-time Executive Director and eight employees to provide dedicated service. In addition to assisting members in claims handling, PRM offers complete risk management and loss prevention services. PRM provides on-site loss prevention services, including assisting members in setting up Safety Committees and Drug Free Workplace programs. PRM provides various seminars for its members throughout the year.

Excess Reinsurance, Technical Support, Marketing, and Underwriting services are provided by World Risk Management, LLC.

Claims service provided by Gallagher Bassett Services, who provides claims services to over 150 public entities in Florida, and thousands on the national level. Included in the claims service is managed care for Workers' Compensation.

Objectives

Major objectives of the group are as follows:

1. Lower Costs
2. Enhanced Coverage
3. Outstanding Claim and Loss Control Services
4. Stability
5. Self Governed by Members
6. Professional and Timely Service

Today, PRM maintains those same objectives, meeting each of them with every new policy term. We believe that PRM's continued success and prosperity is largely attributable to the benefits received by its members.