SAN FRANCISCO–(BUSINESS WIRE)– Alteris Insurance Services Inc. (Alteris), in partnership with the California Association of Mutual Water Companies (CalMutuals) and American Association of Water Distribution & Management, announced today that Alteris will serve as Insurance Administrator for the newly formed CalMutuals Joint Powers Insurance Authority (JPIA) working with nonprofit water systems in California.
CalMutuals JPIA was recently established as a result of California’s legislature passing AB 656 in September 2015. This legislation was initiated by CalMutuals and supported by Alteris as well as other independent insurance brokers, Valley (Central) Ag Water Coalition, California Firefighters’ Association, and dozens of mutual water companies. It allows mutual water companies the opportunity to form and participate in a JPIA for purposes of insurance and supporting services. CalMutuals JPIA provides customized insurance solutions to mutual water companies domiciled in California whose operations comprise the development, transportation, management, storage, treatment or distribution of water.
“This recently enacted legislation, which we supported, creates product stability, responsive insurance coverage, and attractive pricing for mutual water companies throughout California,” said Alteris Insurance Services president, Paul Fuller. “We greatly appreciate the collaborative interaction between CalMutuals, its members, and our broker partners. This alignment is a true win-win for mutual water companies and provides industry-leading insurance and related benefits while reaffirming the integral role and advocacy of the independent agency system.”
Adjacent entities – such as water districts, sewer districts, conservation districts, and community services districts – are also eligible and now well positioned to secure insurance coverage through CalMutuals JPIA.
Serving as Insurance Administrator, Alteris will oversee member services in the areas of underwriting, claims, risk management and control, legal and regulatory compliance, and continuing education.
“A critical component of this legislation that we sponsored is to provide nonprofit water systems customized technical resources and augmented advisory assistance,” said CalMutuals JPIA Board of Directors president, Jim Byerrum. “CalMutuals selected Alteris as the JPIA Insurance Administrator because of their unique expertise within the public water system space, particularly through their extensive experience with mutual water companies. Equally important, Alteris does not compete with independent insurance agents and brokers. This alignment maximizes advocacy for our members.”
Byerrum notes, “CalMutuals is an association built exclusively for the advancement of mutual water companies and other small water systems throughout California, and this exciting new endeavor will further advance those companies and systems by providing them with quality insurance products at affordable prices and providing them with much needed technical assistance.”
CalMutuals JPIA will begin enrolling members in February.
Alteris Insurance Services, Inc. (Alteris) is a member of Argo Group International Holdings, Ltd. (NASDAQ: AGII), and operates as a full-service Managing General Agency providing a broad spectrum of products and services to brokers and clients throughout the United States. Alteris Insurance Services provides program modeling, underwriting administration, capital management, policy-system solutions, claim services, risk consultation, and reinsurance placement. Each of its specialty practices are supported by an integrated team of underwriting, claims, risk control, actuarial, and administrative support professionals. Targeted industry segments include water-related entities, emergency service organizations, wineries, breweries, forest products, and landscape contractors. For more information, visit www.alterisus.com.
About Argo Group
Argo Group International Holdings, Ltd. (NASDAQ: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Through its operating subsidiaries, Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group’s worldwide insurance subsidiaries are rated ‘A’ (Excellent) by A.M. Best with a stable outlook and its U.S. insurance subsidiaries are rated ‘A-’ (Strong) by Standard & Poor’s with a stable outlook. For more information, visit www.argolimited.com or follow us on LinkedIn (http://ow.ly/Oe6fK) and on Twitter at @Argo_Group.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125006109/en/
Argo Group International Holdings, Ltd.
Rebecca Kelley, 210-321-8547
Source: Argo Group International Holdings, Ltd.