Webster defines strength as the quality or state of being strong and a capacity for exertion or endurance. Strength is one of the core qualities of the California JPIA, as evidenced by its rock solid protection programs, professional staff, best-in-class vendors, and its firm capital position. In 2015 the Authority’s net assets totaled over $100 million. The Authority’s portfolio is conservatively invested in accordance with its adopted investment policy and in compliance with state law.
The financial success of any risk pool hinges largely upon its reserving practices. The Authority uses a broad base of dynamic information to establish central reserve estimates for individual claims, actuarial reserves, contingency reserves for catastrophic losses and adverse claim development, as well as special reserves for a wide range of financial risks and hazards within the operating environment. The Authority’s financial strength comes from its members; literally in the form of contributions and deposits, but also from sound policies and good governance, with a long-term strategic focus. This approach has resulted in an excellent track record of member satisfaction in providing valuable coverage programs and services to local government agencies throughout California for over 35 years.