In Government
Intergovernmental risk pools (IRPs) operate under the same general principle, except that they are made up of public entities, such as government agencies. Thus, IRPs provide alternative risk financing and transfer mechanisms to their members, through which particular types of risk are underwritten with contributions (premiums), with losses and expenses shared in agreed ratios. In other words, Intergovernmental Risk Pools are a cooperative group of governmental entities joining together to finance an exposure, liability or risk.
Intergovernmental risk pools may include, but are not limited to, authorities, joint power authorities, associations, agencies, trusts, and other risk pools.
Read more about this topic: Risk Pool
Famous quotes containing the word government:
“The United States Constitution has proved itself the most marvelously elastic compilation of rules of government ever written.”
—Franklin D. Roosevelt (1882–1945)
“The government does not concern me much, and I shall bestow the fewest possible thoughts on it. It is not many moments that I live under a government, even in this world. If a man is thought- free, fancy-free, imagination-free ... unwise rulers or reformers cannot fatally interrupt him.”
—Henry David Thoreau (1817–1862)