The Tennessee Risk Management Trust (TNRMT) has a long standing history of providing excellent customer service, broad coverages that fit the needs of Tennessee’s public entities, an experienced claims & loss control staff, and sound financial and administrative practices. Our large membership and continued success over the years is a testament to our high value to Tennessee’ public entities, and their respect as a trusted partner.
Why Choose TNRMT
The membership of TNRMT are not simply members, they are owners of the Trust. Each member nominates and elects the Board of Trustees that govern TNRMT. The Board of Trustees is tasked with the responsibility of determining the overall direction of TNRMT, appointing an administrator, verifying that financial audits are performed regularly and accordingly, and ensuring that our practices continue to strengthen the Trust.
Financially speaking, TNRMT has always operated in a financially sound manner. Each year, we have an independent audit and an independent actuarial analysis of our program performed each year. In doing so, we have achieved recognition as a financially sound, and professionally managed organization. The annual audit and analysis also ensure that our operating principles are on target and that our administrative practices continue to strengthen the member owned Trust.
Our underwriting practices are unique in that our rates and premiums are not influenced by differing types of losses that occur across differing sectors in differing cost areas, as is the case with traditional first-dollar insurance products. Coverage rates developed by TNRMT are influenced by losses occurring only in Tennessee schools or governmental entities, and only suits that arise from those losses which are settled in Tennessee Courts. Therefore, our rates and premiums are ultimately determined by our membership’s loss experience, a membership that comprises of only public entities in Tennessee. In addition, because TNRMT is a “pool”, TNRMT is not bound by and does not use the NCCI Workers’ Compensation experience modification rating. Again, our member’s loss experience is the ultimate factor in determining rates and premiums, not differing types of losses that occur across differing sectors in differing cost areas.
We realize that insurance is perhaps the only commodity that you purchase and hope to never truly need. Nonetheless, our membership has relied on the strength and service of the Trust over our long history time and time again. Let our strength, expertise, leadership, and dedication work for you in your time of need.