IS THE TML RISK MANAGEMENT POOL AN INSURANCE COMPANY?
No. The Tennessee Municipal League Risk Management Pool is a non-profit, risk sharing organization of Tennessee municipalities and local public agencies – not an insurance company. A pool is a cooperative arrangement that works in many ways like a traditional insurer. Participating members pay a contribution (premium), receive coverage, and make claims against that coverage. Members, banding together to pool their risks, gain several advantages over traditional insurance. For example, premiums are determined using rates based on municipal loss experience only, loss control programs are specifically tailored to the needs of municipalities, and claims are settled with consideration for prior municipal court cases and awards.
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- IS THE TML RISK MANAGEMENT POOL AN INSURANCE COMPANY?
