Virginia Risk Sharing Association

What Virginia Risk Sharing Association does

Virginia Risk Sharing Association (VRSA), founded in 1980 and headquartered at 11243 Nuckols Road in Glen Allen, Virginia, is the first and self-described most financially sound group self-insurance pool in the Commonwealth of Virginia. It operates as a member-owned, member-governed organization serving Virginia local public entities, with members drawn from four explicit vertical segments: cities, counties, and towns (primary); water and wastewater authorities; school divisions; and other public authorities.

VRSA's product portfolio spans the core public-entity insurance lines: workers' compensation (with a plus module and value-added services including CompCare On-Call 24/7 nurse triage, First-Fill Prescription Program access through 1,500+ Virginia pharmacies, telemedicine via Concerta, and LightDuty Pathway return-to-work programming), property (including boiler and machinery, crime, miscellaneous equipment, and GatherGuard temporary-event coverages), automobile liability and physical damage, general liability, public officials liability, law enforcement liability, cyber liability (the first such offering from a Virginia pool, with a dedicated cyber defense attorney), and school board legal liability. The underlying technology is a member-facing insurance pool platform delivering coverage administration, claims management, indemnity payment dashboards via app.vrsa.us, and the VRSA Online University training environment.

Revenue is generated through annual member contributions/premiums structured as subscription-style recurring payments, with rates calibrated for stability rather than profit maximization and adjusted annually based on member risk profiles and pool performance. Distribution is direct: assigned member teams, in-house claims handling, payroll audits (via Wilkinson Insurance Services), HR/public safety/local government/communications consulting bundled with select coverages, and joint programming with the Virginia Municipal League (VML) and the Virginia Department of Criminal Justice Services (DCJS). The organization employs 51-100 staff, recognizes over 100 members on its Gold Star List for timely workers' compensation reporting, reports an average 85 percent claim acceptance rate, and has distributed more than $3.5 million in Risk Management Grants over the past decade.

Name

Virginia Risk Sharing Association

Legal name

The Virginia Risk Sharing Association

Website

https://vrsa.us

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

51–100 employees

Short description

Virginia Risk Sharing Association is the first member-owned group self-insurance pool in Virginia, providing workers' compensation, property, automobile, liability, cyber, and school board coverages, alongside risk management and consulting services, to Virginia cities, counties, towns, water authorities, and schools.

Ownership category

akta.pro rank

Product category

Government Insurance Pool

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Other Insurance Funds (525190), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Nonprofit / Social Services BOP (FSAJAFAM)

akta.pro secondary industry

Real Estate / Lessors Risk BOP (FSAJAFAI)

Keywords

• Public entity insurance
• Self-insurance pool
• Workers compensation coverage
• Property liability insurance
• Risk management services

Headquarters

HQ city

Glen Allen

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premium Contributions: VRSA generates revenue through member contributions/premiums paid by Virginia local public entities for coverage. As a member-owned organization, rates are designed for stability rather than profit maximization.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels10 records

Core offering

Virginia Risk Sharing Association (VRSA) is a member-owned group self-insurance pool that provides property, liability, automobile, workers' compensation, cyber, and other insurance coverages to Virginia local public entities. In addition to coverage, VRSA delivers risk management, human resources, public safety, and consulting services — including communications and local government consulting — to help members mitigate risk and operate safely.

Product overview

Virginia Risk Sharing Association (VRSA) is a member-owned group self-insurance pool providing a comprehensive portfolio of insurance coverages and risk management services to Virginia's local public entities. The core offerings include Workers' Compensation, Property, Automobile, General Liability, Public Officials Liability, Law Enforcement Liability, Cyber Liability, and School Board Legal Liability coverage. Supporting services include HR Consulting, Local Government Consulting, Communications Consulting, Public Safety Services, Risk Services, and the VRSA Online University training platform. Additional specialized offerings include Workers' Compensation Plus, Crime Coverage, Boiler and Machinery Coverage, Student Accident Coverage, GatherGuard temporary event insurance, and programs like CompCare On-Call and LightDuty Pathway for claims management. The organization positions itself as the first and most financially sound group self-insurance pool in Virginia, offering the broadest protections with an 85% average claim acceptance rate.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Coverage Statutory workers' compensation coverage for employees of member Virginia local public entities.
• Property Coverage Property insurance protecting member public entities' physical assets against covered losses.
• Boiler and Machinery Coverage Coverage for boiler and machinery breakdowns at member facilities.
• Miscellaneous Equipment Coverage Coverage for miscellaneous equipment items owned or used by member public entities.
• Crime Coverage Crime and fidelity coverage for member public entities.
• Automobile Liability Coverage Liability coverage for vehicles owned or operated by member entities.
• Automobile Physical Damage Coverage Physical damage coverage for member-owned vehicles.
• No-Fault Property Damage Coverage No-fault property damage coverage related to automobile incidents for members.
• Garage and Garagekeepers Coverage Coverage for garage operations and garagekeepers exposures at member entities.
• General Liability Coverage General liability insurance protecting members against third-party bodily injury and property damage claims.
• Public Officials Liability Coverage Liability coverage protecting public officials of member entities from claims arising in their official capacity.
• Law Enforcement Liability Coverage Liability coverage tailored to law enforcement operations of member entities.
• School Board Legal Liability Coverage Legal liability coverage for school board members and education-related exposures of member school entities.
• Cyber Liability Coverage Cyber liability coverage addressing cyber risks faced by member public entities.
• Student Accident Coverage Accident coverage for students at member school entities.
• Security Risk Management Services Security risk management consulting services for member public entities.
• GatherGuard Specialized offering designed to address gatherings and event-related risk exposures for members.
• HR Services Human resources consulting and support services for member public entities, including HR Director and HR Advantage offerings.
• Risk Services Risk services consulting and training for member public entities.
• Public Safety Services Public safety consulting and program support for member public entities.
• Local Government Consulting Services Local government consulting services supporting member public entities in operations and administration.
• Communications Consulting Services Communications consulting services for member public entities.

Quantifiable outcome

• 85% average claim acceptance rate
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Virginia Municipal League (VML)coreStrategic or Co-development PartnerVRSA partners with VML to host educational events for local government officials including General Assembly preparation sessions and risk mitigation training. The partnership provides joint programming on topics important to Virginia municipalities.
• Virginia Department of Criminal Justice Services (DCJS)minorStrategic or Co-development PartnerVRSA supports the annual Virginia School Safety Training Forum organized by DCJS, providing content and expertise for school safety training for Hampton Roads area schools and beyond.
• DriveSmart VirginiaminorStrategic or Co-development PartnerVRSA supports DriveSmart Virginia auto safety initiative. Over the last ten years, VRSA has incurred more than $65 million in automobile claims and continues to support driver safety programs.
• ConcertacoreTechnology or IntegrationVRSA partners with Concerta for telemedicine services, providing virtual consultation with healthcare providers at time of injury for workers' compensation cases.
• Wilkinson Insurance ServicesminorImplementation/ SI/ Consulting PartnerConducts payroll audits for VRSA members purchasing workers' compensation coverage, performing physical, electronic, telephone, or mail audits.
• HR ExecSupportminorImplementation/ SI/ Consulting PartnerEmployment and labor law support service (formerly EPL Assist) provided at no additional cost to VRSA members purchasing Public Officials' Liability Coverage.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• VML Insurance Programs: VML Insurance Programs is the insurance and risk management affiliate of the Virginia Municipal League, historically intertwined with VRSA (the VRSA website references VMLIP branding). It offers comparable public-entity insurance programs in Virginia to cities, counties, towns, and schools, making it the closest direct peer.
• Georgia Interlocal Risk Management Agency (GIRMA): GIRMA is a Georgia-based group self-insurance pool for local public entities providing property, liability, auto, and workers' compensation coverage. It is structurally and operationally analogous to VRSA as a state-level municipal risk pool.
• Tennessee Municipal League Risk Management Pool: TML Risk Management Pool provides pooled property, casualty, and workers' compensation coverage to Tennessee municipalities and public entities, operating on a similar member-owned mutual model targeting a single state's local government market.
• Michigan Municipal Risk Management Authority (MMRMA): MMRMA is a member-owned self-insurance pool providing liability and property coverage to Michigan municipalities, with risk management services and member grants analogous to VRSA's offerings.
• North Carolina League of Municipalities Insurance Trust: NCLM Insurance Trust provides pooled coverage and risk management services to North Carolina cities and towns, sharing the state-municipal-league-affiliated mutual pool structure that VRSA represents in Virginia.
• Ohio Municipal League Joint Insurance Pool: The OML Joint Insurance Pool is a member-owned self-insurance pool offering property, liability, and workers' compensation coverage to Ohio municipalities, with risk management consulting bundled for members in a model parallel to VRSA.
• Kentucky League of Cities Insurance Services: KLC Insurance Services operates pooled risk coverage programs for Kentucky cities and local public entities, sharing VRSA's municipal-league-affiliated, member-owned service model in an adjacent state.
• Public Risk Management Associates (PRMA): PRMA is a national insurance pool focused on public entities, providing property, liability, and workers' compensation coverage with risk management services. It represents a scaled, multi-state analog to VRSA's single-state pool model.

Broad incumbents

• Travelers: Travelers is a major national commercial property & casualty insurer with significant public-sector business, offering workers' compensation, property, auto, liability, and cyber coverage. It competes with VRSA for larger or non-pooled public entity risks.
• Liberty Mutual Insurance: Liberty Mutual is a top national P&C carrier with public entity and workers' compensation offerings, serving as a broad incumbent competitor to VRSA for municipalities, schools, and authorities that opt for traditional commercial carriers.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/vrsa_us
• YouTubeyoutube.com/user/VMLInsurancePrograms
• Facebookfacebook.com/VRSA.US
• LinkedInlinkedin.com/company/vrsa.

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virginia Risk Sharing Association