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Frequently Asked Questions

Select from categories below:

1. Questions Regarding Public Entity Risk Pooling

2. Questions About IPARKS

3. Questions For IPARKS Members

 

Questions Regarding Public Entity Risk Pooling

Q. What is a Risk Pool?
A. Pools are not-for-profit, member-driven public organizations that were created to reduce and stabilize long-term insurance costs and ensure access to coverage and service needed to sustain key local government functions.

Participating public entities are co-owners of the pool, and pools are governed by elected member boards. The goal of a risk pool is to contain and stabilize long-term costs while reducing risks and increasing safety.
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Q. What are the benefits of a Risk Pool?
A. When two or more public entities share risk, aggregate costs are less than the sum of the individual participating entities' costs. All members' contributions to a risk pool help pay claims for any one member’s claims. When pool members share knowledge and information, they learn to reduce the risk associated with their primary purpose - providing critical public services.

Nationally, pools save taxpayers billions of dollars. Several factors create savings:
  • Unlike commercial insurers, pools add no profit margin (typically at least 10-15 percent) to rates;
  • Pools spend less than commercial insurers on administration and middlemen;
  • Pools are often exempt from the taxes that commercial insurers pay; and,
  • Most importantly, pools emphasize helping members avoid and reduce losses.

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Q. Do many public entities participate in Risk Pools?
A. There are more than 90,000 public entities in the United States. The Association of Governmental Risk Pools (AGRiP) estimates that at least 80 percent of them participate in one or more pools.
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Questions About IPARKS

Q. What is IPARKS?
A. Founded in 1991 pursuant to the Illinois Intergovernmental Cooperation Act, the Illinois Parks Association Risk Services (IPARKS) is a local government risk-sharing pool that exists for the primary purpose of providing park districts in the state of Illinois with an alternative to traditional insurance.  IPARKS is fully endorsed by the Illinois Association of Park Districts (IAPD), a nonprofit service, research and educational organization that serves park districts, forest preserves, conservation districts, river conservation districts, municipal park and recreation districts, and special recreation agencies in the state of Illinois.  IPARKS differs philosophically from traditional insurance programs in that IPARKS is owned by its members and serves only its members’ interests.
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Q. How many park districts and forest preserves are members of IPARKS?
A. More than 170 Illinois park districts, forest preserves, concervation districts, river conservancy districts and specialized recreation agencies participate in IPARKS -- more than any other insurance or pooling arrangement programs in the state of Illinois.
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Q. Can I work with my local insurance agent to participate in IPARKS?
A. Yes. Many IPARKS Members work with their local agents while others work with IPARKS directly.
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Q. Is IPARKS available to both large and small districts?
A. Yes. IPARKS has a wide variety of members, from one of the largest park districts in Illinois to the very smallest of districts.  IPARKS provides expanded coverages and services to all of its members.
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Q. Are risk management services available to IPARKS members?
A. Yes. IPARKS has risk management professionals to assist members in loss control for their member park districts, along with an extensive Resource eLibrary and relevant human resources webinars.
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Q. What is a Financial Stability Rating®?
A. Demotech, Inc. is a Columbus, Ohio financial analysis firm with over 25 years of experience in providing independent opinions on the financial stability of government risk pools.  Financial Stability Ratings® (FSRs) are a leading indicator of the financial stability of a company.  FSRs are based upon a series of quantitative ratios and considerations using statutory financial data and insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC).  For 20 consecutive years, Demotech, Inc. has awarded the Illinois Parks Association Risk Services with a Financial Stability Rating® of AAA (Unsurpassed), its highest rating.
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Questions For IPARKS Members

Q. What is the iGrant?
A.
In 2015, the IPARKS Board of Directors implemented a new loss control and risk management initiative entitled iGrant.  The iGrant program permits all IPARKS members to apply for grant money to fund or partially fund their property and liability loss control or risk management efforts.
 
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Q. What is the amount of the iGrant?
A. Members may apply for up to $500 in grant money annually.
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Q. What items qualify for the iGrant?
A. Examples of items that would qualify for the iGrant include (but are not limited to):  playground surface materials; safety signage; safety cones or other hazard warning items; fire extinguishers; and, Automated External Defibrillators.
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Q. How do I file a claim?
A. To file a claim, please click on the File a Claim icon on the right hand side of the screen or click the link below.  There you will find Claim Reporting Instructions that will guide you through the claim submission process as well as the forms to be submitted for the various types of claims.

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Q. How do I add a vehicle?
A. To add a vehicle, click on the Coverage Information and Updates icon to the right or the link below, and log in using your user name and password.  Then click on the Endorsement icon to make a mid-term change to the policy.

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Q. How do I request a certificate of coverage (other than for a vehicle)?
A. To request a certificate of coverage (other than for a vehicle), please email Wendy French at wfrench@bfgroup.com.
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Q. How do I request a certificate of coverage for a vehicle?
A. To obtain a copy of a certificate of coverage for a vehicle, click on the Coverage Information and Updates icon to the right or the link below and log in using your user name and password.  Under Member Policies, click View Reports List.  Available certificates will be listed there.

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Q. How do I request a quote?
A. To request a quote, please email Wendy French at wfrench@bfgroup.com, or click on Contact Us and a representative will respond to your inquiry.
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