Demotech Inc. has affirmed the “AAA” Financial Stability Rating (FSR) assigned to Pennsylvania Intergovernmental Risk Management Association (PIRMA), a self-funded public entity pool.
Demotech said PIRMA is a local government risk pool that offers comprehensive liability and property coverages specially tailored to meet the needs of governmental entities throughout the Commonwealth of Pennsylvania and provides an alternative to traditional insurance.
PIRMA differs from traditional insurance programs in that PIRMA is owned by its members and serves only its members’ interests. York Risk Pooling Services Inc. is PIRMA’s administrator and public accounting firm Plante Moran is its auditor. PIRMA’s FSR was initially assigned in 1987.
Demotech is a financial analysis firm based in Columbus, Ohio. Since 1985, Demotech has been serving the insurance industry by providing actuarial consulting as well as FSRs for property/casualty insurers, title underwriters and public entity pools.
Demotech reviews and rates more than 415 insurers, writing every line of P/C insurance in the U.S. and Puerto Rico. Self-funded public entity pools are one of the many clienteles served by Demotech.