To the Members of AMIC:
A Message from the Chair
AMIC welcomes its third President, Mr. Sean Duke, following the retirement of the former President, Mr. Steve Wells. The AMIC Board is looking forward to the future under Mr. Duke’s leadership and feel he will be a great asset to our organization and bring value to the services we provide our members.
Looking forward, while continuing to fulfil its primary objective, the AMIC Board has its eye on the horizon and is looking to create additional programs or services that will help its member cities and towns, not just survive, but thrive through the next millennium.
Overall, AMIC’s membership, continues to hold steady with 589 insureds, including 392 municipalities, 81 utility boards, 41 solid waste/water authorities, 54 associations and 21 transit authorities. AMIC’s current market share exceeds 95 percent.
I am pleased to report, that in 2022, AMIC will pay a 5 percent dividend for capitalized members. This equates to approximately $17,700,000 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.
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.
The SkidCar system, which was implemented in 2001, has been very successful with over 21,700 police officers, fire fighters and employees trained to date. The Firearms Training System (FATS), which provides state of the art “decision making” training to our police officers, has trained more than 9,200 police officers from departments throughout the state.
We have just completed 21 years with all services in-house. This improvement has allowed AMIC to increase its quality of services, while reducing expenses by more than $40,000,000 over the last 21 years. To put it simply, that is $40,000,000 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, 2021, on a statutory basis, assets were $147,251,173 and net worth was $72,367,367. Net earned premiums are $37,320,837, a slight increase from 2020. Total gross premiums written now exceed $52,000,000.
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.
Mayor Charles H. Murphy, Chair