08/01/11
A Small Beginning Becomes Success Story
IPARKS Celebrates 20 Years

IPARKS is proudly celebrating its 20th anniversary! For me, this anniversary is a time to look back at the good times and look forward as we fulfill our goals together. I hate to sound cliché, but it is simply amazing how quickly two decades have passed. Without question, this has been a remarkable achievement and terrific success story. It is well worth celebrating, but it is also good to remember that it was not easy to build this specialty, park and recreation pooling arrangement.

Starting from scratch in 1991 and equipped with the Illinois Association of Park Districts' (IAPD) formal endorsement, IPARKS was formed. We knew our future success required specialization and strict attention to the unique needs of Illinois Parks and Recreation Agencies. We were committed to go beyond traditional coverage terms and conditions. Our strengths then, and now, are as follows:

• Non-profit organization
• Low overhead
• Investment income retention
• Tax-exempt status
• Stable, competitive pricing
• IAPD endorsement
• Homogenous membership
• Non-assessable
• AAA Demotech Financial Stability Rating (FSR)
• Specialized loss control and risk management services
• Interactive web site for IPARKS Members
• No annual aggregate, all casualty lines
• General Liability coverage including special events, volunteers, athletic participants, sexual abuse and misconduct, moral obligation to pay, liquor law liability
• Public Officials Errors and or Omissions
• Employment Practices Liability
• Commercial Property
• Commercial Auto

In the early 1990's, membership numbers did not materialize as fast as we projected. The commercial/conventional marketplace still provided a viable option for the larger parks and recreation agencies. Insurance companies, TITAN, PENCO, Zurich and Crum & Forester, all offered some variation of parks and recreation, property and casualty/professional lines policies. However, traditional coverage options were not available for smaller park districts. Despite the strong competition, IPARKS continued to campaign and eventually, reaped rewards.

IPARKS is not just another insurance program; it is an IAPD Membership benefit inviting participants to become partners, as well as customers. Over time, IPARKS Membership numbers and annual contributions started to swell. IPARKS outgrew its new and unproven identity defying competitors' descriptions.

In 2001, we observed the withdrawal of a major market, PENCO/Hartford. IPARKS became a leading choice for Illinois Park District and Recreation Agencies. TITAN was absorbed by USF&G, later purchased by The St. Paul and eventually merged with The Travelers. Change was truly constant.

Through the years, many unique, specialty coverage enhancements emerged. Stable pricing coupled with quality loss control and risk management ensured IPARKS' success story. Today, IPARKS boasts a membership of 164 Parks and Recreation Members. Our program maturity has allowed for a solid financial status, along with strong reinsurance partners, and a liquidity ratio of almost five to one. Demotech, Inc., continues to award our specialty pool with the highest independent financial stability rating available, AAA.

In closing, I wish to thank and congratulate all of you for playing a role in setting IPARKS' success story in motion.