One of the cornerstones of NIRMA is its financial strength and stability. In fact, an independent risk management consulting firm has said NIRMA is one of the most financially secure governmental pooling programs it has ever examined and ranks among the nation’s leaders in operating practices and financial stability.
Our management practices are quite simple. Follow sound, conservative business principles, always be mindful of current market trends and conditions, and keep abreast of potential pitfalls that could impact the pool and our members.
To ensure the financial stability and integrity of the program, the NIRMA Board of Directors has established that a Member Fund Balance – the equity owned by our members – be maintained at a level of not less than $10 million. The Member Fund Balance has consistently exceeded that level.
Another important feature is our clearly-defined investment policy which ensures the program’s assets remain safe, provides sufficient liquidity to meet cash flow needs and pay claims in a timely manner, and seeks an appropriate rate of return on investments.