PRESQUE ISLE, Maine – Municipal officials are pleased to announce that the City of Presque Isle has received a dividend check in the amount of $5,823 because of its good performance and loss prevention programs.
Maine Municipal Association offers three self-funded pools for municipal and quasi-public entities in Maine: the Unemployment Compensation Fund formed in 1978, the Workers Compensation Fund also formed in 1978, and the Property & Casualty Pool formed in 1987.
The programs are overseen by governing boards consisting of elected and appointed municipal officials. Actual allocation and eligibility of dividends are based on the member’s own loss experience. Michelle Pelletier, director of risk management services for MMA, said more than 82 percent 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 & 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 with the two programs returning over $27 million to participating members. For more information on Maine Municipal’s Risk Management Services programs including online training programs and other services, please visit www.memun.org and click on the Risk Management Services link, or call 1-800-590-5583.
