MRM began operations as a Safety Group program that utilized an insurer to issue policies to the members. At the end of the policy period, the insurer issued a single dividend payable to MRM who would then pay dividends to its members, based on the individual experience of each member.
This continued for 11 years, paying back millions of dollars to the members.
Members of the MRM workers compensation Safety Group program approached the organization about the possibility of a companion program for General Liability, Auto Liability, Auto Physical Damage and Property coverage.
The separate and fully-insured Municipal Risk Property & Liability Program (MRPC) began operations. Like the workers’ compensation program of that era, the MRPC program was fully insured using an insurance company.
Also the same: the insurance carrier would pay dividends to MRPC, who in turn distributed those dividends to the program members based on individual loss experience.