During Tuesday’s Fairfield City Council session, the council decided to continue their insurance with Risk Management .
According to city officials, the city is in a min/max program. According to Mayor Moore, the minimum/maximum policy is a policy where the insurance company establishes a minimum amount of claims allowed as well as a maximum amount of claims allowed against the policy.
According to Mayor Gary Moore, the quote for the city’s policy for the year will be around $207,908.72. That amount was for paid in full, but Moore stated the company gave additional payment options.
Another quote was for an 11-month prorated policy form another insurance company. In the meeting, it was announced the quote was for $279,000. The full premium on that policy was $305,170.
Mayor Moore recommended paying the year in full and staying with Risk Management. The council approved the ordinance unanimously.