Wright Risk Management has created some of the most innovative, ground-breaking and successful risk financing vehicles in the United States. Following are examples of our achievements in this area:

New York Schools Insurance Reciprocal www.nysir.org
New York Municipal Insurance Reciprocal www.nymir.org

WRM created two client-owned Property & Casualty reciprocal insurance companies and have managed them for over a decade, taking both from unrated and unranked companies to A.M. Best top rated (Excellent) companies. Our clients partake fully in the benefits of a customized alternative risk-financing program; that is, broader coverage, better service, stable premiums and extensive risk management services.

The Municipal Interlocal Risk Management Agency (MIRMA)
Property, Auto, Liability (PAL) program.

In 2003 WRM and the Board of Directors of the Municipal Interlocal Risk Management Agency (MIRMA) to create a Property and Casualty (PAL) program for the public sector in Connecticut. This program was an extension of the existing MIRMA program, which wrote Workers’ Compensation coverage only. The MIRMA PAL program, utilizing local Connecticut agencies, makes available the traditional P&C coverages to municipalities and schools throughout the state in a manner customized to serve and support the needs of Connecticut public entites.

PXC, Inc. - Captive Insurance Program

In collaboration with WRM, effective December 31, 2003, PXC, Inc. was licensed in New York State to operate as a pure multi-line property and casualty captive insurance company for a nationwide payroll service company and its corporate affiliates. Since then, WRM continues to serve as Risk Management Consultant to this company as well as Captive Manager for PXC, Inc.. We provide services and expertise in underwriting and reinsurance, risk management, safety and loss control, claims management and administration, statutory reporting, insurance department filings, regulatory compliance, and additional risk support services. A pure or single-parent captive is a wholly owned subsidiary of the parent company that insurers the risk of its owners and related subsidiaries.