When traditional insurance coverage was no longer working for public entities in the Delaware Valley, a new model gave them a way to stay on budget while keeping employees healthy and happy. The Delaware Valley Trusts are not tired commercial insurers run by brokers and agents for profit. They are innovative risk-sharing pools, formed to address a need for long-term, comprehensive, and affordable coverage and to share financial benefits earned through membership.
Offering Quality, Affordability, and Stability since 1989
Faced with rising premiums in the early 1980s, several of our member public entities began to purchase group commercial insurance that leveraged economies of scale and lowered costs. Those costs grew increasingly volatile, however, and municipal managers turned to the idea of a risk-sharing pool that would be owned and managed by its members. Our Property & Liability Trust was formed in 1989 with 18 chartered members. The Workers’ Compensation Trust was established soon after in 1992, and the Health Trust followed in 1999.
Today, the Delaware Valley Trusts have far exceeded the expectations of our visionary founding members. We offer:
- A sole focus on public entities: We know what you need to thrive because we’ve been successfully serving public entities – and only public entities – for almost three decades.
- A lower expense ratio than commercial carriers: By keeping operating costs low, we can dedicate more of each member’s premium dollar toward paying claims and providing coverage.
- No broker or agent commissions: We’ve eliminated unnecessary middlemen whose commissions can increase premiums by as much as 15%.
- An emphasis on building and maintaining surplus: Expert Trust management has created a financial cushion to absorb higher than expected claims costs and reduce reliance on reinsurers and excess insurers.
- Investment income generation: We don’t just build and maintain surplus. We return it to members through our Rate Stabilization Fund, multi-trust discounts, cash dividends, and grants.
- Exceptional loss control and claims service: Experienced Trust managers and staff know how to craft programming that addresses the unique risks faced by public entities and how to mitigate the financial impact of any loss. Manageable caseloads mean that adjusters can consistently provide the attentive and proactive member service that is a Delaware Valley Trusts hallmark.