JMAPP - JLT (Municipal Asset Protection Plan) Discretionary Trust Arrangement

About

In Australia, Local Government Mutual Schemes/Discretionary Trusts have a proven record of delivering sustainably low contributions even in the face of adverse claims outcomes. Such is the benefit of insulation provided by the size of membership. Purchasing power allows the Schemes/Discretionary Trusts access to broad protection and competitive prices.

The trust which comprises over 60 Victorian Local Government Corporations is designed for property damage type claims.

The benefits of JMAPP include:

• Claims are paid on a discretionary basis 
• Competitive and stable pricing 
• Security and long-term stability 
• Equity and rebates through discretionary trust structure 
• Stable and trusted excess of loss insurance partners that have stood the test of time 
• Return of surplus rebates and interest disbursements to members, meaning profits go to members, not insurers 
• Sector-specific member services 

History

Since its inception in 1998, JMAPP has continued to grow and operate successfully. JMAPP has consistently demonstrated that it can deliver financial benefits to its Members and achieve its objective of ensuring protection through stable contributions, cost containment and spread of risk.

The fund was developed at the time when individual Councils with poor claims records were being heavily penalised and many had difficulty obtaining protection. With Councils operating within a limited revenue stream, large claim payments were becoming increasingly difficult to budget for.

The ongoing support from Members is reflective of Local Government joining together to achieve results for the benefit of the communities for which they serve.

Claims

Claims management is a crucial and key element of our service. JLT has unrivalled experience to ensure the most beneficial claim settlement is achieved. We can use the discretionary benefit to pay claims in the best interest of our members .Our claims are managed locally from end-to-end by skilled and experienced personnel with significant expertise in public sector claims, who work staunchly in our members best interest at all times.

JMAPP Advisory Committee

The JMAPP Advisory Committee represents the various state regions of participating Council Members.

The role of the Committee is to advocate for the Scheme and its members, and helps ensure the Scheme delivers viable and protective strategies aimed at reducing the contribution costs and risks associated with local government assets.

JLT Public Sector strongly supports continuous improvement in Local Government through sponsorship of LG Professionals. The events and activities JLT Public Sector sponsors assists council employees to build sector wide skills and knowledge, ultimately improving the risk profile of councils.

It is important to remind all members that JMAPP is a discretionary trust arrangement which is not insurance. This is due to one component of the arrangement involving the trustee’s absolute discretion as to whether to pay claims and how much to pay over and above the mutual wording. The Discretionary Trust Arrangement is authorised and classified by ASIC as a managed investment scheme and mutual risk product. It is neither authorised under, nor subject to, the Insurance Act 1973 (Cth) nor is it regulated by the Australian Prudential Regulation Authority (“APRA”).

LCPA: 25/438