OTARMA History
The Ohio Township Association Risk Management Authority (OTARMA) is a local government risk-sharing pool which was formed in 1987 for the primary purpose of providing townships throughout the State of Ohio with an alternative to traditional insurance.
Historically, the property and casualty insurance industry has been unable to provide the consistency of pricing and coverage needed by townships and other public entities. The national insurance crisis of the late 1980s, in which public entities were unable to purchase insurance at any cost, initiated the formation of group self-insurance pools in which members agreed to share the cost of their claims and related expenses. The transition from insurance to pooling has been so successful that there are over 400 public entity pools currently operating in the United States of America.
OTARMA has enjoyed remarkable growth since its inception and currently has nearly 1,000 Members. In addition to comprehensive property and casualty coverage, OTARMA Members enjoy personalized loss control services including free access to a national library of risk management videos as well as many other unique and innovative, industry leading features and benefits.
The financial strength and management quality of OTARMA is reflected in the analysis performed by Demotech, Inc., an independent rating service, who have awarded OTARMA their highest rating of AAA since the program's beginning. This rating is based on Financial Stability, Loss Reserves, Administration and Overall Performance.