MIIA Rewards was developed to help reduce municipal and pool loss experience, educate members on issues of topical interest, and establish prevention and maintenance best practices.
This past year, MIIA awarded over 2.4 million of premium credits collectively to the MIIA membership through the FY20 Rewards Program, resulting in an 18 year total of 38.2 million.
The concept is simple: develop innovative programs in these areas and make it financially worthwhile for our members to implement them. This way they will have the tools and the know-how to effectively handle situations that impact their loss experience.
In short, you can earn premium credits towards your next policy year by participating in MIIA Rewards programs.
The FY21 Rewards Program is now available. As a result of the increase in the frequency and severity of property loss in the MIIA pool in FY19 and FY20, FY21 Rewards primary focus will continue to be property loss prevention while also addressing other municipal loss areas.
Each year the Rewards guidelines and criteria are developed based on the pool loss experience and member feedback.
MIIA Rewards continues to evolve thanks to member participation and feedback. The MIIA staff welcomes all inquiries and looks forward to answering any questions you may have. Please feel free to call us to discuss your particular needs.