New York Municipal Insurance Reciprocal

What New York Municipal Insurance Reciprocal does

New York Municipal Insurance Reciprocal (NYMIR) is a private, member-owned reciprocal insurance company founded in 1993 by three statewide municipal associations — NYAOT, NYSAC, and NYCOM — to address an insurance crisis confronting New York's local governments. Operating under Article 61 of the New York State Insurance Law and governed by a 13-member Board of Governors elected by subscribers, NYMIR provides specialized property and casualty insurance coverage to more than 1,000 of New York's 1,600 general purpose local governments, making it the largest municipal P&C underwriter in the state. The company holds an A.M. Best A- (Excellent) financial strength rating reaffirmed in April 2025 with a stable outlook and very strong balance sheet assessment, and maintains a policyholder surplus of nearly $90 million with no capital contributions required from members and no assessments to date.

NYMIR's product portfolio centers on eight core coverage lines: General Liability, Property, Auto Liability, Equipment Breakdown, Crime & Fidelity, Cyber Liability, Public Officials Liability, and Law Enforcement Liability. Surrounding the core coverages is an integrated stack of value-added services including the LEARN Online University platform (powered by NEOGOV with 400+ courses), risk management and loss control consulting, free triennial property appraisals through HCA Asset Management, cybersecurity support (eRiskHub, SecurityScorecard vulnerability scans, Abira Security), dedicated New York-based claims handling, and a sample policies and manuals library. The technology stack is largely vendor-built rather than proprietary, with no internal software product development evident.

The business operates on a reciprocal insurance model: municipal policyholders simultaneously function as partial owners with voice in coverages, claims, and pricing through the elected Board. Revenue is generated via quote-based annual premiums determined through underwriting. Distribution combines county-level designated service representatives (specialist brokers), direct Member Services support out of Albany, and member referrals/advocacy from the three sponsoring associations. Wright Public Entity serves as program manager handling day-to-day operations including underwriting, marketing, member services, risk management, and claims handling. NYMIR does not publicly disclose financial figures including premium revenue or surplus composition.

Name

New York Municipal Insurance Reciprocal

Legal name

New York Municipal Insurance Reciprocal

Website

https://nymir.org

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

New York Municipal Insurance Reciprocal (NYMIR) is a member-owned reciprocal insurance company founded in 1993 that provides property, liability, and cyber insurance exclusively to New York State municipal governments, serving more than 1,000 of the state's 1,600 local governments as the largest municipal P&C underwriter in New York.

Ownership category

akta.pro rank

Product category

Municipal Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Commercial General Liability (CGL) (FSAJADAA)

akta.pro secondary industries

Excess Casualty (Lead/Umbrella/XS) (FSAJAGAA), Umbrella & Excess Liability (Fleet/Transportation) (TLABANAG)

Keywords

• Municipal property insurance
• Public liability coverage
• Risk management services
• Reciprocal insurance company
• Government loss control

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property and Liability Insurance Premiums: NYMIR generates revenue through property and liability insurance premiums from member municipalities. As a reciprocal insurer, subscribers pay premiums and become partial owners of the program.
2. Value-Added Services: Property appraisal, cybersecurity support, training, risk management counseling, and sample policies provided at no additional cost to policyholders as part of membership benefits.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

NYMIR is a member-owned reciprocal insurance company that underwrites property and casualty insurance exclusively for New York State municipal governments. Its core offerings include General Liability, Property, Auto Liability, Equipment Breakdown, Crime, Cyber Liability, Public Officials Liability, and Law Enforcement Liability coverage, paired with value-added risk management, training, claims handling, and cybersecurity support services for over 1,000 member municipalities.

Product overview

New York Municipal Insurance Reciprocal (NYMIR) operates as a member-owned reciprocal insurance company providing a comprehensive suite of property and liability insurance coverages exclusively for New York municipal governments. The core product portfolio centers on specialized insurance coverage including General Liability, Property, Auto Liability, Cyber Liability, Public Officials Liability, and Law Enforcement Liability. Supporting the insurance offerings are value-added services including the LEARN Online University platform for training, Risk Management & Loss Control services, a Property Appraisal Program through HCA Asset Management, Cybersecurity Support Services, and Claims Management. NYMIR serves as a one-stop risk management partner for municipalities, combining insurance protection with prevention resources and training.

Differentiator

Problem solved

Functional benefit

Products and services

• Property and Liability Insurance Coverages Comprehensive insurance coverage package tailored for New York municipal governments, including General Liability, Property, Auto Liability & Physical Damage, Equipment Breakdown, Crime & Fidelity, Cyber Liability, Public Officials Liability, and Law Enforcement Liability.
• Cyber Liability Insurance Specialized cyber insurance coverage for New York municipalities providing protection against data breaches, ransomware attacks, social engineering, and network security incidents, including breach response and regulatory fines coverage.
• Risk Management & Loss Control Services Proactive support services including on-site consultations, risk assessments, customized recommendations for operations and facilities, and ongoing guidance from experienced loss control professionals to reduce risk and prevent losses.
• LEARN Online University Online learning management platform powered by NEOGOV, providing municipal employees 24/7 access to over 400 courses, risk management resources, policy templates, webinars, and certification tracking at no additional cost to members.
• Property Appraisal Program Free professional property appraisal service delivered triennially to subscribers through HCA Asset Management, covering municipal properties valued at $100,000 or more to keep insurance coverage current.
• Cybersecurity Support Services Comprehensive cybersecurity value-added services for members with NYMIR cyber coverage, including vulnerability scans, cyber risk assessments, simulated tabletop exercises, awareness training, incident response planning, and access to an in-house cyber expert.
• Claims Management Services New York-based claims handling providing prompt processing of covered claims, dedicated claims team support, litigation support, and strong defense of claims and lawsuits for municipal members.

Quantifiable outcome

• NYMIR has been saving subscribers millions of dollars for over 30 years by not contributing to the NY State Guaranty Fund
• +2 more outcomes

Named customers10 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Wright Public EntitycoreImplementation/ SI/ Consulting Partner · 1 January 1993Wright Public Entity serves as NYMIR's program manager since inception. They bring decades of experience serving New York's local governments and manage day-to-day operations including underwriting, marketing, member services, risk management, and claims handling through their team including President Susan O'Rorke, VP of Underwriting Rob Rowe, VP of Marketing Karen Buckley, VP of Risk Management David Bloodgood, VP of Liability Claims Lisa Weber, VP of Property Claims Mike Coffey, and Client Services Manager Patricia Sacino.
• Great American Insurance GroupcoreStrategic or Co-development PartnerCarrier partner providing financially strong backing for NYMIR's cyber insurance program. Their claims team works in coordination with NYMIR to provide expert breach response, legal counsel, and breach coaches. AM Best A++ rated carrier.
• NBT Insurance AgencyminorChannel Partner/ Reseller/ DistributorInsurance broker partner that worked with NYMIR to present a return of capitalization check to the Village of Cazenovia at the Annual Local Government Conference.
• New York Association of Towns (NYAOT)coreStrategic or Co-development PartnerOne of three founding statewide municipal associations that established NYMIR in 1993. Continues to shape the program through advocacy, legal guidance, and training. Executive Director Christopher A. Koetzle represents NYAOT.
• New York State Association of Counties (NYSAC)coreStrategic or Co-development PartnerOne of three founding statewide municipal associations that established NYMIR in 1993. Serves as Attorney-in-Fact with important financial and legal responsibilities. Executive Director Stephen J. Acquario represents NYSAC.
• New York Conference of Mayors (NYCOM)coreStrategic or Co-development PartnerOne of three founding statewide municipal associations that established NYMIR in 1993. Continues to advocate for NYMIR members. Executive Director Barbara J. VanEpps represents NYCOM.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Michigan Municipal Risk Management Authority (MMRMA): State-level municipal liability and property risk-sharing pool for Michigan local governments. Closely comparable to NYMIR in operating model (member-owned pool underwriting municipal exposures) and target market (state's local government units).
• New York Schools Insurance Reciprocal (NYSIR): New York-domiciled reciprocal insurance exchange providing property and liability coverage to school districts. Comparable to NYMIR in structure (reciprocal, member-owned), geography (New York), and customer type (public-sector entities), though focused on schools rather than municipal governments.
• Trident Public Risk Solutions: Specialty public entity insurance program administrator offering property, casualty, and cyber coverage to municipalities, schools, and other public entities. Comparable to NYMIR in underwriting public-sector risk, though operates as a managing general agent/program administrator rather than a carrier-reciprocal.
• Garden State Municipal Joint Insurance Fund: New Jersey municipal joint insurance fund providing property, liability, and workers' comp coverage to member municipalities. Direct peer to NYMIR in serving public-sector local governments through a pooled/risk-sharing structure, though organized as a JIF rather than a reciprocal.

Broad incumbents

• The Hartford (Public Sector / Schools): Large national insurer with a dedicated public entity and schools practice providing property, liability, auto, and workers' comp to municipalities. Comparable to NYMIR in core product set and customer type but operates as a public-stock commercial carrier across multiple states.
• Glatfelter Insurance Group: Specialty insurance manager focused on public entities, schools, and religious organizations, offering property, casualty, and risk management services. Comparable to NYMIR in public-sector focus and integrated risk management approach, though operates as a managing general agent serving multiple states.
• Great American Insurance Group (Public Entity Division): Diversified specialty P&C carrier that already backs NYMIR's cyber program and writes public-entity commercial coverage nationally. Comparable in product scope and customer type, though operates as a commercial carrier rather than a reciprocal; functions as both partner and indirect competitor.
• Travelers (Public Sector): Major national P&C carrier with a public-sector division offering property, general liability, auto, and law enforcement liability to municipalities and counties. Comparable in product breadth and target customer, though commercially owned and operating across the U.S.

Others

• Public Risk Management Association (PRIMA): Industry association for public-sector risk managers. Comparable to NYMIR only at the ecosystem level—PRIMA supports the same municipal risk-manager customers through training and benchmarking, but does not underwrite coverage.

Emerging players

• Chesterfield Insurance Group / Municipal Insurance Partners: Specialty municipal insurance program offering excess liability and property coverage to public entities. Comparable in municipal niche focus but smaller scale and narrower product line than NYMIR's full-stack reciprocal offering.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/NYMIR-268751749958611
• LinkedInlinkedin.com/company/nymir
• Instagraminstagram.com/nymirny
• Xx.com/nymirnewyork

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 New York Municipal Insurance Reciprocal