OTARMA
When townships struggled to secure insurance with traditional carriers, the Ohio Township Association worked to form OTARMA, the Ohio Township Association Risk Management Authority.
About OTARMA
When OTARMA was formed, the 1980s were a time when liability insurance coverage for public entities was virtually unattainable from the traditional insurance marketplace. Public entities throughout the United States joined together to form group self-insurance pools. A self-insurance pool is a not-for-profit association of members joined together for the purpose of sharing losses and spreading risks. Unlike most self-insurance pools, OTARMA is a non-assessable pool program.
Because of the structure of OTARMA, the membership is insulated from the factors that have historically caused the extreme variances in traditional insurance company pricing and coverage availability. OTARMA provides coverage for only one class or risk - townships, and in one geographical area - Ohio. This translates into more predictable claims payment patterns and therefore the ability of OTARMA to provide stable pricing and broad coverage.
Coverages offered by OTARMA may include:
General Liability
Automobile Liability
Automobile Physical Damage
Public Officials Liability
Property and Inland Marine
Law Enforcement Liability
Fidelity and Crime
Employment Practices Liability
Cyber Breach and Liability
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Property & Liability Insurance for Townships
OTARMA is a governmental risk-sharing pool whose members consist solely of Ohio townships. OTARMA was originally formed in 1987 with the assistance of the Ohio Township Association for the primary purpose of providing Ohio townships with an alternative to traditional property and casualty insurance. OTARMA is endorsed by the OTA Service Corp. and provides broad coverage, outstanding service, risk management programs, and stable pricing for Ohio townships of all sizes to properly protect their assets.