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Letter from the chairman

 

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To the Members of AMIC:
A Message from the Chairman

In 2017, AMIC took a significant and groundbreaking step to further strengthen its mission of “Insuring the Future of Local Government”. Not only does AMIC continue to protect its member cities and towns, AMIC has now invested in the “future” of all Alabama municipalities by partnering with Cumberland School of Law to create a Municipal Law Chair that will ensure graduates are ready and able to address legal issues affecting Alabama’s municipalities.

The Stephen Everett Wells Chair in Municipal Law has three specific tenets: to teach law school students the basics of municipal law every semester; to train municipal and defense attorneys, as well as judges, on current municipal legal issues through educational seminars; and to provide judges with legal guidance on municipal issues through published scholarly articles.

The long-term goal of this academic chair is to create a better understanding of municipal statutes, which will result in more reasonable legal results. Or – more simply stated – to save taxpayer dollars.

Membership
Overall, AMIC’s membership, continues to hold steady with 577 insureds, including 389 municipalities, 78 utility boards, 41 solid waste/water authorities, 49 associations and 20 transit authorities. AMIC’s current market share exceeds 95 percent.

Dividends
I am pleased to report, that in 2018, AMIC will pay a 3 percent dividend for capitalized members. This equates to approximately $13,100,000 in dividend credits AMIC has returned to its participating capitalized members since 1998.
Dividends will be paid to all participating members renewing with AMIC. This is made possible because of the tremendous support from our members.

Loss Control
AMIC’s Loss Control Department will continue to combine its Loss Control resources with the MWCF. This team approach has allowed both programs to provide 10 dedicated staff members to focus on all aspects of our members’ operations, which translates into more services and programs at a much-reduced cost.

Training
The SkidCar system, which was implemented in 2001, has been very successful with over 18,400 police officers, fire fighters and employees trained to date. The Fire Arms Training System (FATS), which provides state of the art “decision making” training to our police officers, has trained more than 8,100 police officers from departments throughout the state.

Financials
As AMIC celebrates its 29 th year of service, we have just completed 17 years with all services in-house. This improvement has allowed AMIC to increase its quality of services, while reducing expenses by more than $38,000,000 over the last 17 years. To put it simply, that is $38,000,000 you get to use to improve your city or town. AMIC continues to monitor its costs and is working hard to keep its expenses and your insurance costs down. On December 31, 2017, on a statutory basis, assets were $122,637,717 and net worth was $54,955,239. Net premiums are $33,926,992, a slight increase from 2016. Total gross premiums written now exceed $42,000,000.

Conclusion
In closing, let me say it is a distinct pleasure to bring this excellent report to you. Membership continues to hold steady; member surplus is strong; and AMIC looks forward to Insuring the Future of Your Local Government.

 

The Honorable Billy Joe Driver

Chairman, AMIC Board of Directors