The Cumberland Times-News reports that Garrett County government  is paying a lower liability insurance premium this fiscal year through a partnership with the Local Government Insurance Trust (LGIT).  With the annual premium is down by 18 percent from the last fiscal year, resulting in a savings of  $98,639 for the county.

The Local Government Insurance Trust, the county’s liability insurer, offers longevity and loss control credits toward the annual premium. The trust also offered for the first time a $1 million limit for excess liability at no additional charge. This saved the county $8,000 on the annual premium.

LGIT is a non-profit association authorized by state law, wholly-owned and managed by its local government members. The Trust’s main purpose is to provide joint self-insurance programs or “pools” for towns, cities and counties in the State of Maryland. The concept is simple: rather than paying premiums to buy insurance from an insurance company, local governments contribute those premiums into a jointly-owned fund. The money in that fund is used to pay for the members’ claims, losses, and expenses.