Municipal officials announced that the Caribou Utilities District received a $795 dividend check from the Maine Municipal Association as a result of its good loss experience 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. Each year the boards review the programs’ loss experience to determine if dividends may be paid. Patricia Kablitz, Director of Risk Management Services for MMA, said more than 78 percent of program participants received a dividend this year for their good risk management practices and loss experience.
This year the Workers Compensation Fund has distributed almost $650,000 in dividends to participants and the Property & Casualty Pool has paid dividends of nearly $550,000 for total payments of over $1.1 million provided directly to MMA members.
Since 1997, the three programs have returned over $15 million in dividends to participating members.
