From The Iowa County magazine August 2019 issue

Why ICAP?

The Iowa Communities Assurance Pool (ICAP) provides property and casualty coverage, as well as comprehensive risk management services, to nearly 800 Iowa public entities. The diverse membership of the Pool includes Iowa cities, counties, townships, 28E organizations, emergency management agencies, empowerment boards, county fairs, transit authorities, and more.

ICAP is headquartered in Iowa and has representatives located throughout the state. We partner exclusively with local insurance agents, and work tirelessly to build and maintain our relationships with them.

Have questions or want to learn more about membership in the Pool? Find out more at www.icapiowa.org or contact Kasi Koehler, ICAP Marketing and Local Adminstration, via 1.800.383.0116 or kasi@icapiowa.com.

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When we received word ISAC would be featuring this article in its August magazine, we toiled with where to start.

Should we write about the fact ICAP is member-owned? Maybe we should discuss the many resources ICAP affords its members, or how those services have evolved over the years? What about the IT Risk Control Assessment we offer? The service is in high demand, which makes it a great offering to highlight.

We decided not to go with it, though. Instead, we decided to use this article to highlight what really makes ICAP different – what makes us, as a pool, stand apart from all the rest.

Ultimately, we decided to use this article to discuss you – the ICAP membership. It is our partnership with you that makes ICAP so unique.

Did you know 75 out of Iowa’s 99 counties count themselves as members of the Pool?

That’s 75 counties alone. That number does not include the hundreds of other county boards, commissions, and organizations that are included in the ICAP membership.

Significant, right? We think so, and we know it is significant for a reason. You see, ICAP did not start out having 75 counties as members. In fact, when the Pool was formed in 1986, it did not name a single county amongst its membership. The first county to sign on for membership in the Pool was Adair County, who joined ICAP in 1987. Over the years, other counties followed suit.

Some joined for cost saving benefits, because they needed pricing relief from the hardened insurance market (ICAP’s rates are stable, and do not fluctuate in the way traditional insurers’ do). Some joined for the risk control services ICAP affords, because they required assistance improving their loss ratios. Some joined because they knew other counties were onto a good thing, and they wanted to join in member ownership. And some joined simply because they wanted more. Whatever the reason, 75 Iowa counties have joined ICAP over the years.

Even more impressive is the fact, in all those years, only one county has ever left the Pool – and it came back. Let us repeat: since ICAP’s inception nearly 35 years ago, only one county has withdrawn its membership from the Pool, and it elected to come back. The county rejoined ICAP last year.

Here is a bit of insight as to why:

• ICAP offers rate stability. No highs, no lows – in nearly 35 years of service, ICAP’s liability rates have never changed.

• ICAP continuously looks for ways to provide value to our members. Over the last few months alone, ICAP has enhanced a number of services and added new offerings to the Pool’s repertoire.

• ICAP members have ownership. In fact, they have more than that. We are a member-owned and operated Pool that is governed by a seven-member Board of Directors, which utilizes a Member Advisory Committee to further its reach and understanding of various entities’ needs. Our members have a voice!

• ICAP gives back to the membership. All members are eligible to receive annual funding from The ICAP Grant and eligible, fully vested members receive annual member credit returns, which are derived from investment income. In addition, all member entities are now eligible to receive funding from the Law Enforcement Policies and Training Grant.

• ICAP’s big on education. ICAP members can receive unlimited access to countless online training materials, sample policies and procedures, breach resources, and more – free-of-charge. From the Public Entity University (PEU) to the Cyber eRisk Hub to the Law Enforcement Portal and more – we have resources that benefit every entity in the state. If online resources aren’t your thing, we also host a number of member and agent events each year, including the ICAP Educational Summit and the ICAP Agent Seminar.

• ICAP is local. The Pool is literally of, for, and by Iowans, which means we are here for you. We live and work in communities throughout the state. We have boots on the ground, eyes in the community, and ears open to feedback. We are here for you.

And, ICAP considers ourselves fortunate to know our members are here for us.

There’s an old Aristotle saying, “the whole is greater than the sum of all its parts.” This is true for most things in life, and certainly it is true of ICAP. Our members – nearly 800 of them – have banded together to be part of a Pool that is strong, stable, and well-structured. Together, we have helped the Pool evolve into a solution that will benefit Iowans and our entities for decades yet to come.