States' insured member entities actually own the insurance company.
As owners, States' insured member entities have a real voice in the Company's operations through the election of the Board of Trustees, the ability to volunteer to serve on States' boards and committees, and attendance at an annual Meeting of the Members.
States' policy language was developed by public entity risk managers, attorneys and insurance professionals. Because insured members are the owners of the insurance company, States acts as their insurance "partner" which is particularly important when claims arise.
States is highly regulated by the State of Vermont, the Company's state of domicile, and files quarterly financial reports with the 44 other states in which States is registered to conduct business.
States' strong financial position is supported by the world's largest reinsurance companies.
As a Risk Retention Group, States must be owned by the entities it insures and therefore provides specialized coverage only to public entities. States is dedicated solely to the public entity sector for the long-term.
States members experience extensive interaction with their public entity peers at meetings, through a proprietary e-mail program, and a variety of other communication dedicated to States members.
States member insureds share in the financial success of the company without potential assessment liability because States is not assessable like most state pools.