Members of the League of Minnesota Cities Insurance Trust property/casualty program will share in a $2.7 million dividend this year, bringing the total amount of returned dividends since 1987 to $330 million. Members will receive their share in mid-December.
The dividend amount is largely determined based on members’ claim experience, and the amount of contingency margin—or cushion—the Trust needs to retain in its fund balances in case future claims exceed projections. This year’s amount reflects changing claim patterns and the Trust’s commitment to providing members with rate stability.
The Trust remains committed to working with our members to minimize claims, keeping premium rates stable, and returning unneeded funds to members when possible. To help achieve this, the Trust offers a wide variety of voluntary risk management programs. These programs, along with members’ individual efforts, can help to avoid or lessen liability and injuries, meaning lower premiums and potential dividends for all Trust members.