The VLCT Property and Casualty Intermunicipal Fund (PACIF) Board of Directors has approved steps for 2027 that reinforce its commitment to delivering stability and value for members. The board consists entirely of Vermont local officials who understand municipalities’ unique insurance needs. As we close out 2026 and welcome 2027, these decisions reflect the value that members expect from their trusted, member-driven risk-sharing pool:
- Approved $200,000 to continue funding PACIF Grants
- Approved returning $2.25 million of member equity (surplus) as credits toward members' 2027 contributions
- Set PACIF rates for 2027 with a decrease of 2.5% across all lines of coverage. Specifically, the workers' compensation rate will decrease 2.7%, the liability rate will increase 1.2%, and the property rate is decreasing 5.5%
In addition to the rate changes noted above, given the substantial cost of replacing fire and ambulance apparatus, members have increasingly been expressing interest in coverage on an Agreed Value for their apparatus but have found it cost prohibitive. We are pleased to note that the Agreed Value rate for Firefighting and Ambulance trucks will be decreasing by 64% in 2027. Members who are interested in this should reach out to underwriting staff for a quote on their specific needs.
Members will receive their 2027 invoices in early December, with some experiencing lower contributions and others seeing higher contributions for 2027. Each invoice reflects not only the rates noted above but also the member’s claim history and any changes in exposures (such as higher estimated payroll or a building value increase). Contribution credit calculations take into account the member's claim experience in a specific set of past years.
Thanks to your membership, PACIF can continue offering rate stability and a return of member equity. Your loyalty and commitment to risk management make this possible. Thank you for being outstanding ambassadors!