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Pooling Helps Buyers Cope With Budget Cuts

With public entities getting hit by whopping budget cuts while coping with increased liability and added pressure to procure needed coverages, large pooling groups are becoming more and more important for risk managers, one expert in the field contends.

By Caroline McDonald | Updated on May 31, 2009

With public entities getting hit by whopping budget cuts while coping with increased liability and added pressure to procure needed coverages, large pooling groups are becoming more and more important for risk managers, one expert in the field contends.

“I would say in the state of California that most, if not all public entities are in a pool of some form or another, whether it be for their property or liability, workers’ comp, or even their benefits to some degree, and most if not all have a self-funded component,” said Graham Grice, general manager with Keenan & Associates–an insurance brokerage in Torrance, Calif., that manages most of the state’s education pools.

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