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.
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Famous quotes containing the word government:
“We know now that Government by organized money is just as dangerous as Government by organized mob.... [The organized moneyed people] are unanimous in their hate for me and I welcome their hatred.... I should like to have it said of my second administration that these forces met their master.”
—Franklin D. Roosevelt (1882–1945)
“The republican is the only form of government which is not eternally at open or secret war with the rights of mankind.”
—Thomas Jefferson (1743–1826)