About LARM

LARM is a public agency formed through the use of an interlocal agreement and, as such, it is an extension of each member. LARM is required to operate in accordance with state statute and to comply with the rules regulating the operation of a public agency. The Intergovernmental Risk Management Act (IRMA) very clearly states that pools created under IRMA are not considered insurance companies. IRMA recognizes the unique legal status of pools and creates regulations specifically for them. IRMA allows the Director of the Nebraska Department of Insurance to adopt and promulgate rules and regulations related to maintaining reserves, payment of dividends, payment of claims and changes to the structure of the Pool.


LARM is administered by the League of Nebraska Municipalities (LNM). LNM provides legal assistance, coordination of legislative efforts and information/education. LNM is responsible for contracting with and overseeing all service providers including the pool manager, risk management staff, property/liability and workers’ compensation claims specialists, loss control consultants, accountants, actuaries, investment managers and financial auditors. LARM operates under the direction of the board of directors made up of elected and appointed officials that are elected by the LARM membership.