At its Annual Meeting on November 20, SCMIRF announced $1 million in participation credits to be shared by the SCMIRF membership. The participation credits are available to members who have been in the program since January 1, 2006 and have renewed their coverage with SCMIRF effective January 1, 2009. The credits represent additional savings to quoted premium contributions for 2009 and will apply as an offset to the semi-annual bills due in January and July 2009.
In addition, the renewals included a 2 percent multi-program discount for those municipalities who are members of both SCMIT and SCMIRF. The multi-program discount recognizes the efficiencies of providing the entire insurance package for a member. In addition, it is an expression of appreciation for being loyal supporters of both SCMIT and SCMIRF. The multi-program discount generated over $550,000 in savings for those entities that are members of both programs.